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Have you ever wondered who are the richest kind of lawyers? Yes, guessing right from the title, it is taxation lawyers. Taxation law is a niche that has the highest money and myths around it. Lakshmikumaran and Sridharan, ELP, NDA and several other leading firms of today started as a tax law firms only! Even A of AZB is Ajay Bahl, who started out in tax.
When the market is flooded with M&A and investment lawyers, there is a very limited supply of tax lawyers because of its complexity and hard work & the commitment it demands. One can even have an international practice in taxation. Every case of taxation is unique, making it one of the most interesting niches to work in.
Also, given that tax law matters are usually complex and there is a very limited supply of good tax lawyers, pay grade of tax lawyers is usually a notch above lawyers who practice other laws.
I have not studied accounting and commerce in college, can I still consider taxation as my career? What can I do to make up for it?
As taxation law demands ultimates expertise and mistakes are unaffordable so what will be the struggles for young lawyers? What can be done to boost growth at the initial stages of career?
ow to decide in which area of tax to step-in? What are the factors to consider and how to weigh them as per one’s skill-set?
Is doing CA a mandate in order to build a successful tax law practice? How can one make up for it?
India implements taxation amendments fastest in the world and moreover, we are the second most complex tax jurisdiction, so how to make a system to keep yourself abreast with updates and with their applications?
If you are interested in tax law, you will really have to look far beyond the curriculum of law colleges to learn this. The most traditional method is to apprentice in a tax law firm or with a tax lawyer for years, *at no salary* or a relatively low salary until you can be useful, but is there any way to circumvent it?
Corporate taxation is thriving and it is extremely lucrative for young lawyers. But what are the skills required to get a job in top companies like Tata, Reliance, Mahindra or even in international corporate giants like Amazon, Apple, Skillsoft, etc?
Who are the top employers of tax lawyers? How much one gets paid there?
If I one doesn’t want to do litigation, is it a good idea to still pursue tax law? How is tax litigation different from other kinds of litigations?
What kind of quantitative aptitude is required to be a good tax lawyer?
These and many other questions will be answered and myths will be debunked by our experts, These and many other questions will be answered and myths will be debunked by our experts.
Rohit Arora, Advocate: Delhi High Court, Taxation and Commercial litigation
I am an army girl! In a barbie world! Keeper of 5 dogs. On a diet for now. Sometimes I might make punctuation mistakes, but I make up for it by bringing in a crore or two extra. What's more important, a misplaced comma, or a well-placed crore?