Individuals are gaining basic knowledge of accounting concepts, taxation, payroll rules, and the vital disciplines of Economics through the Business Accounting and Taxation course. The BAT Business Accounting and Taxation course was heavily contested. Individuals and businesses have gradually realized the need of filing taxes and preserving records. Business accounting and tax processes and practices have evolved over time, making it a far more sophisticated and precise activity. A BAT education can provide you with the necessary information and skills to manage a business that spans various divisions such as sales, accounting, and taxation. To fully comprehend what this course entails, you must first familiarize yourself with the fundamentals of business accounting and taxation. First, let’s understand BAT, and then we will explore Business Accounting and Taxation Courses in Trivandrum.
What is BAT?
The BAT course primarily teaches the framework of financial accounting and a company’s financial status. It also goes through the tax system, which requires a firm, organization, or individual to pay the government a portion of their revenue or income as a fee for development projects.
Accounting is used to determine how profitable a company is. To track their financial status, all firms, regardless of size, must keep an accounting register. It also supports interested parties in making decisions depending on the company’s progress. Unlike accounting, which covers all aspects of a company’s operations, taxation concentrates on developing ways to assist firms to finish their tax returns more quickly.
You may be thinking, “What is business accounting?” whether you’re the happy owner of a new startup or in your 10th year working your way up the corporate ladder. The process of acquiring and evaluating financial data on business activity, recording transactions, and preparing financial statements is known as business accounting.
Accounting is essential in business for a multitude of reasons. Keeping track of all of your assets, liabilities, inventory, and other data can help you attract investors, safeguard your assets from theft, and uncover new opportunities to expand your business. Bookkeeping, preparing and filing tax returns, and creating financial reports are the main responsibilities of small business accounting.
Business accounting allows you to better manage your finances and make more educated business decisions. To save money, many small business owners do their own accounting in the beginning. If you’re in the same scenario, it’s critical that you understand the fundamentals of business accounting.
Taxes in India
In India, there are two sorts of taxes: direct and indirect taxes levied by the state and national governments.
- Direct Taxes
- Indirect Taxes
In India, direct taxes are levied on your income, while indirect taxes are levied on operating expenses. Individual, HUF, or company is responsible to deposit direct tax on time in India. Whereas indirect taxes are majorly collected by the businesses and corporate for product services and services offered. Hence, these entities are liable to deposit indirect taxes.
What Is Direct Tax?
Corporations and individuals are subject to direct taxes. These taxes cannot be passed on to anybody else. The most important sort of Direct tax for individual taxpayers is the income tax. Each assessment year, this tax is imposed (1st April to 31st March). If your annual income exceeds the minimum exemption limit, you must pay income tax, according to the Income Tax Act of 1961.
A range of statutes and regulations provide tax benefits. It is critical that you grasp the income tax bracket before we discuss tax benefits. Half of the government revenue comes from direct taxes in India. The following are the different forms of direct taxes currently applicable in India:
- Personal Income Tax
- Tax on Capital Gains
- Corporate Income Tax
Except for capital gains and profits from business and profession, income tax applies to any income earned by an individual or a HUF. The applicable slab rates for the Assessment Year are used to calculate income tax.
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Does More Tax Come Under Direct Tax?
Individuals in India have a broad range of incomes. As a result, it is critical to impose a tax on you based on your earnings. The income and age of an individual determine the Tax bracket. The central government makes changes in income-tax slabs every year during the Budget Session.
1. Capital Gains Tax
The tax levy on the earnings of an investment that is paid when it is sold is called capital gain tax. When we get returns or profits after selling stock or other taxable investment assets, the capital gains are referred to as “realized.” There are two categories of capital gain:
Short-Term Capital Gains Tax
The returns or profit earned from the transaction of property is defined as a capital gain. Let’s understand what is short-term capital gain tax? The government levied a tax on profits generated from the sale of an asset held for a government-defined short period is called STCG or Short Term Capital.
The short-term period differs for various assets; for example, for immovable property such as buildings, land, and property, the holding period was reduced from 36 months or less to 24 months to estimate it as “short term.”
Long-Term Capital Gains Tax
Long-term capital gains are investments that provide profits over a period of time of one to five years. Long-term capital gains, or LTCG, are returns earned over a longer period of time. People invest in order to get better returns, which may be used as a secondary source of income.
There are items that generate returns over a short period of time, but only a few investments are suitable as long-term investments, and these investments are classified as long-term capital gains. Long-term capital gains are possible with mutual funds, government bonds, and equities.
The following are some examples of long-term capital gains investments:
· Property Sale
· Sale of Agricultural Land
· Investments in mutual fund
Applicable Tax on Long Term Capital Gains
Long-term capital gains are taxed at a rate of 20%, plus additional cess and surcharges, such as the education cess if they apply. In order to alleviate the burden of high taxes, the government has given some exclusion in certain instances. When a profit qualifies for one of these exemptions, its tax may be reduced from 20% to merely 10%.
2. Corporate Tax
The corporate tax is imposed on firms and entities that file returns as a corporation. This is likewise a flat charge based on the firm’s turnover.
Indirect Taxes in India?
Indirect taxes have been the most consistent and largest revenue source for the government in India. Multiple indirect taxes have existed in India’s tax system, some of which are still in use:
- Service Tax,
- Indian Excise Duty,
- Value Added Tax (VAT),
- Customs Duty,
- Securities Transaction Tax (STT),
- Stamp Duty
- Entertainment Tax
In India, the Goods and Services Tax, or GST, is a consolidation of a complicated web of indirect taxes. In India, there are three levels of taxation: the Centre, the State, and the Local Authority or Municipalities. The following indirect taxes could apply to goods and services in India prior to the introduction of GST in the Indian taxation system:
- a) Excise Taxes
- b) Tax on Entertainment
- C)Value Added Tax (VAT) (VAT, State)
- d) Octroi
- f) Service Charges
- f) Sales Tax on the Whole (collected by State)
- g) Purchase Tax
- h) Entrance Fee (State)
- I) Excise Tax (State)
Suppliers and manufacturers, as well as government agencies, faced several disadvantages and disputes as a result of these interconnected and frequently overlapping levies.
Benefits and Scope of BAT Courses in Trivandrum
A BAT course seeks to familiarize you with the essentials of the three core components of Commerce, namely Business, Accounting, and Taxation, whether you wish to pursue a career in Accounting, Finance, or Taxation. Let’s look at the advantages of taking a Business Accounting and Taxation courses in Trivandrum.
- After earning a bachelor’s degree in commerce or a similar profession, one of the greatest short-term certification programs is Business Accounting and Taxation.
- The BAT course teaches students about accounting technological approaches such as System Application Product (SAP), with the goal of preparing them to compete with certified MBAs and CAs.
- The BAT training program was created in response to the growing demand for accountants in India. As a result, the program prepares commerce graduates to work in the domains of accounting and taxation.
- Multinational corporations and prestigious Indian organizations are among the employers of Business Accounting and Taxation degree graduates.
- Because it covers more than accounting and includes financial reporting and auditing, the course program opens several options for students.
- QuickBooks, MIS Reporting, ERP software, auditing, SAP, payrolls, and GST are all included in business, accounting, and taxes courses.
- Business Accounting and Taxation degree graduates can earn from 2-8 lakh depending on their caliber.
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Who Can Apply for BAT Courses in Trivandrum?
This course can be used by recent graduates to kick start their career in business accounting, and business. Those who are already employed in the business sector can opt for BAT Course in order to improve their job prospects. It’s a great career opportunity for those who have an interest in commerce or economics.
JOB Roles for BAT Course Professionals.
- Manager Accounting & Taxation
- Accounting Administrator
- Tax Assistant
- Tax Manager
- Senior Accountant
- Junior Accountant
- Auditing Assistant
- TAX Reviewer
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Institute Offering Business Accounting and Taxation courses in Trivandrum
Before we explore institutes providing Business Accounting and Taxation courses in Trivandrum. Let’s know something about the city.
The Evergreen City of India
The current city of Thiruvanthapuram was once known as Trivandrum. With calm beaches, winding backwaters, verdant palm-fringed shoreline, and the Western Ghats, the city is a combination of beauty and nature. Trivandrum is a major educational and research center, including institutes in space science, information technology, physical science, biotechnology, engineering, and medicine. Trivandrum has three universities: two state universities and one deemed university.
Trivandrum, the capital of Kerala, India’s state with the highest literacy rate, offers some of the best commercial accounting and tax courses. Following institute offering Business Accounting and Taxation courses in Trivandrum
Rank# 1. BAT Courses in Trivandrum
1. IIM Skills
IIM Skills is regarded as one of the most popular online education platforms. They offer professional courses that are designed to equip students with real application-based knowledge. They began their adventure in 2015 with the goal of preparing each student to ace an interview and land a solid job. They help their students for the rest of their lives.
Course: Business Accounting & Taxation Course
Duration: 4 months
BAT Course Syllabus:
- Business Accounting
- Tally ERP and Tally Prime
- Advance accounting in Tally
- Basics of GST
- GST in Tally
- GST Filling
- TDS in tally
- TDS Filing
- The tax collected at the source/
- tax deducted at source e-filing
- Tally and payroll
- Basics of Income-tax
- Income tax with Tally
- E-filing of income tax
- Advance Excel
- MIS reporting
Benefits of doing Business Accounting and Taxation Courses in Trivandrum with IIM Skills:
- IIM Skills offers 120 hours of lectures and 60 hours of live training to their students. This enables students to have a well-developed knowledge base as well as the necessary practical skills to be productive in their workplace.
- They give placement support and guidance in order to find work in a company that values your abilities.
- Internship opportunities would is available to all students.
- You will gain a thorough understanding of the tools that are used in the accounting process through assignments.
- Students will receive a certificate of completion once they qualify for the exams. Also internship certificate at the end of the internship.
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Rank# 2. BAT Courses in Trivandrum
EduPristine offers Business Accounting and Taxation courses in Trivandrum which are practical training oriented. The course equips students to confront real-world accounting and finance difficulties. Expert individuals that understand the sector and how it works to provide training to students. They place a greater emphasis on the practical side so that each student is industry-ready.
Course: Post Graduate Program in Business Accounting and Taxation
Duration: 5 months
- Basics of accounting
- Accounting in Tally
- GST and Tally
- Income tax
- Tally and Income tax
- Excel and MIS
- Financial statement finalization
- Soft skills
Mode: Online session + practical training
Benefits of doing Business Accounting and Taxation Courses in Trivandrum with Edupristine :
- You will be working on live projects to apply your skills directly
- Students will receive placement support.
- Students will be prepared and trained for interviews through mock questions and communication skills
Rank# 3. BAT Courses in Trivandrum
3. APG Learning
The institute is well-known for its high-quality online education. The course follows a practical approach. As a result, these Business Accounting and Taxation Courses in Trivandrum combine practical and theoretical understanding. Students are prepared and molded in such a way that they can be very productive at work. Course in Business accounting and taxation course
Duration: 3 months
- Industrial accounting
- Direct taxation
- Goods and service tax
- Business and Computer applications
Benefits of doing these Business Accounting and Taxation Courses in Trivandrum with APG Learning:
- Students will receive tally certificates after clearing the tally examination.
- You will gain practical first-hand experience using Excel and Tally in your daily life.
- Every idea will be thoroughly presented, not only in theory but also in practice.
- Concepts such as payroll and GST will be methodically explained.
- Expert professionals will guide and train each pupil.
Rank# 4. BAT Courses in Trivandrum
Finprov institute is having 38 years of experience in the field of education. They are a well-known institute that offers dedicated skill-based education to individuals interested in careers in finance and accounting. Their classes are solely focused on finance and accounting. Professional and experienced chartered accountants have created the courses. Finprov is one of the institutes providing Business Accounting and Taxation courses in Trivandrum.
Course: PG Diploma in Business accounting and taxation course
Duration: 1 year
- Tally Prime
- GST practical
- Corporate law
- Income tax
- MS Excel
- Language and professional skills
- Quickbooks online
- SAP FICO
- Introduction to auditing
Benefits of doing these Business Accounting and Taxation Courses in Trivandrum with Finprov:
- Upon completion of the course, students will receive certificates. Internship possibilities will be provided to all the students.
- The instructors in charge of both courses are well-versed with subjects and experienced professionals.
- No Cost EMI option is available for those who can’t pay in one stretch
FAQs for Business Accounting and Taxation courses in Trivandrum
Q1. Can somebody do BAT courses in Trivandrum via online mode?
Yes. The majority of Trivandrum’s corporate accounting and taxes courses are available online. These BAT courses in Trivandrum are available even if you are working full-time. Lectures can be scheduled at any time and on any day. As a result, depending on your preferences, you can pick between online and classroom modes.
Q2. What is the standard duration for BTA courses in Trivandrum?
A BAT course takes between 3 to 6 months to complete on average. If the course is a diploma program, it may take longer.
Q3. How would BAT Courses in Trivandrum help me?
BAT course provides students with an understanding of technical accounting systems such as System Application Product (SAP) and strives to train them on par with qualified CAs and MBAs.
Q4. Scope of BAT Course?
The scope of BAT is Vast ERP software, MIS reporting, SAP, QuickBooks, audits, learning about payroll, Goods and Services Tax, and so on are some of the essential parts of a business, accounting, and taxes course. In India, the pay for a BAT course ranges from 2-8 lakhs INR.
Q5. Can I do BAT after the 12th?
NO. Only Graduates can take the PGP-BAT course. The PGP-BAT course is open to all graduates. Because it covers accounting and taxation in-depth, this course is easier for students with a business background. For the PGP BAT, a graduate degree in B.Com, BBI, or BAF is required.
We live in a world that is quite competitive. To survive and succeed in this world, you should have the necessary abilities to obtain a solid job. Professional job-oriented programs fill in the gaps that a traditional degree would leave, allowing you to reach the level of skill required to pass an interview. For a newcomer, the practical training provided by such professional courses is extremely beneficial. You’ll learn a variety of technical words that are commonly used in the industrial workplace.
Students benefit from the tasks and projects that they must accomplish during their term. They will be able to use their knowledge in real-life circumstances. Your ability to use your knowledge in the workplace will benefit you. While the prospect of a job may be daunting at first, the Business Accounting and Taxation Courses in Trivandrum will help you find a better job. Everyone needs to begin somewhere, so why not with this fantastic course? This course will not only improve your knowledge but also your self-esteem.