M.Com Accounting and Taxation: Fees, Eligibility, Jobs & Salary

Edited By Gokul GS | Updated on April 9, 2024
  • Duration
    2 years

What is M.Com Accounting and Taxation

Master of Commerce (M.Com.) in Accounting and Taxation is a postgraduate degree programme for two-years at all universities and colleges in India that focuses on advanced knowledge and skills in accounting and taxation. During the course students will learn financial management and solving tax issues to help businesses and people with their tax problems. The curriculum makes focus on using accounting software along with other tools to help students get better at analysing and reporting financial data. The main subjects focused on in the course are like, finance, accounting, tax system, financial accounting, business communication,... Read More

M.Com Accounting and Taxation Eligibility

Eligibility Criteria Details
Educational Qualification Bachelor’s degree in Commerce (B.Com) or a related field like BBA, BBM, BBS, with a minimum percentage (usually 50% for general category and 45% for reserved categories) from a recognized university.
Entrance Exams Some colleges/universities may require scores from entrance exams like CAT, MAT, XAT, or university-specific tests.
Age Limit Generally, there is no age limit, but some institutions may have their own age criteria.
Reservation Policy As per government norms, there may be reservations or quotas for SC/ST/OBC candidates, physically disabled candidates, and other minority groups.

M.Com Accounting and Taxation Entrance Exams

Typically, colleges in India select students for admission to their Master of Commerce in Accounting and Taxation programs based on their academic performance, without the need for an entrance exam. However, many reputable colleges may still require applicants to complete an entrance exam. The main objective of these entrance exams is to assess a candidate's problem-solving, aptitude, critical reasoning, and communication/ language skills. Here is the list of entrance exams conducted by some colleges and universities:

National Level Exams

NET (National Eligibility Test), CUCET (Central Universities Common Entrance Test).
State Level Exams

Maharashtra SET (State Eligibility Test), TSSET (Telangana State Eligibility Test).
University level Exams

Delhi University M.Com Entrance Exam, Mumbai University M.Com Entrance Exam, Bangalore University M.Com Entrance Exam.

M.Com Accounting and Taxation Fee Structure

The fee structure for Master of Commerce in Accounting and Taxation programs in India can vary based on factors such as the type of institution or university, location, and facilities offered. Government colleges generally have lower tuition fees compared to private colleges. Depending on the institution, the total expenses for a Master of Commerce in Accounting and Taxation program can range from INR 12,000 to INR 4 lakh.

Courses after M.Com Accounting and Taxation

Students who have completed a M.Com in Accounting and Taxation programme in India can choose from a variety of courses to further their education. Here is a list of some of the popular courses available in India after M.Com in Accounting and Taxation:
MBA

MBA in Accounting for Decision Making, MBA in Auditing and Assurance Services, MBA in Financial Management, MBA in Managerial Accounting, MBA in Taxation, MBA in Business Law, MBA in Business Ethics, MBA in Strategic Management.
Ph.D

Ph.D. in Advanced Accounting Theory, Ph.D. in Auditing, Ph.D. in Corporate Finance, Ph.D. in Financial Accounting, Ph.D. in International Accounting, Ph.D. in Taxation, Ph.D. in Research Methodology.
DBA

DBA in Accounting Research, DBA in Auditing and Assurance Services, DBA in Corporate Finance, DBA in Financial Accounting, DBA in International Accounting, DBA in Taxation, DBA in Business Strategy, DBA in Leadership and Organizational Behavior, DBA in Doctoral Seminar.

Career Opportunities after M.Com Accounting and Taxation

Role Name Responsibility Job Type Annual Salary (INR)
Chief Financial Officer (CFO) Overseeing financial operations, developing financial strategies Public 20–50 lakhs
Director of Finance Leading financial planning, budgeting, managing financial risks Public 20–50 lakhs
Financial Controller Managing financial activities, preparing financial statements Public 10–20 lakhs
Senior Tax Consultant Providing tax planning and advisory services, tax research Public 7–15 lakhs
Financial Controller Overseeing financial operations, managing financial reporting Private 8–20 lakhs
Corporate Treasurer Managing cash flow, overseeing banking relationships Private 8–20 lakhs
Audit Manager Planning and managing audit engagements, reviewing financial statements Private 6–15 lakhs
Risk Manager Identifying and evaluating financial risks, developing strategies Private 6–15 lakhs
Financial Reporting Manager Managing financial reporting processes, preparing financial statements Private 6–15 lakhs
Accounts Manager Overseeing financial operations, managing budgets Public 6–12 lakhs

M.Com Accounting and Taxation Scope, Salary & Employers

Master of Commerce (M.Com) in Accounting and Taxation is a widely recognized postgraduate program in India that provides numerous opportunities in both the private and public sectors. Here is a summary of the scope, salary, and employers associated with the M.Com in Accounting and Taxation course in India:

  • Scope: An M.Com. degree in Accounting and Taxation opens up opportunities in finance, accounting, taxation, and auditing. The programme gives you advanced knowledge and skills for better job opportunities and career growth. M.Com. graduates in Accounting and Taxation can find jobs in banking, finance, insurance, consulting, corporate finance, taxation, government, and education.
  • Salary: The salary of M.Com. graduates in Accounting and Taxation can vary based on experience, job, industry, and location. Here are salary ranges: Entry-level positions pay INR 3-6 lakhs per year. Mid-level positions pay INR 6–10 lakh per year. Senior-level positions pay INR 10 lakh or more per year. Figures can vary based on individual circumstances.
  • Employers: Top accounting firms like Deloitte, PricewaterhouseCoopers (PwC), Ernst & Young (EY), and KPMG hire M.Com. graduates for auditing, taxation, and advisory roles. Banks and financial institutions like HDFC Bank, ICICI Bank, Axis Bank, and Bajaj Finance hire M.Com. graduates for finance and accounting roles.

Required Skills for M.Com Accounting and Taxation

To excel in their careers after completing the Master of Commerce in Accounting and Taxation programme, students must possess a combination of hard and soft skills. Here are some of the essential skills required for M.Com in Accounting and Taxation students:

  • Effective communication and interpersonal skills.
  • Good understanding of finance and accounting principles to make informed decisions regarding budgeting, investment, and profitability.
  • Entrepreneurial mindset.
  • Leadership skills to lead teams, manage projects, and make critical decisions.
  • Time management and organisational skills.

FAQ (Frequently Asked Questions)

Are there any scholarships available for M.Com in Accounting and Taxation students?

Yes, universities offer scholarships based on merit, financial need, or specific criteria. Contact universities or check government scholarship schemes for more information.

Can I pursue M.Com in Accounting and Taxation through distance learning?

Yes, some universities offer online courses for an M.Com. in Accounting and Taxation. IGNOU is an institution.

Can I pursue M.Com in Accounting and Taxation after completing a non-commerce bachelor's degree?

Some universities accept non-commerce candidates for an M.Com. in Accounting and Taxation. Eligibility criteria may vary.

Is practical training a part of the M.Com in Accounting and Taxation curriculum?

Universities offer practical training like internships or projects for accounting and taxation experience.

What is the difference between M.Com in Accounting and M.Com in Accounting and Taxation?

An M.Com. in Accounting focuses on advanced accounting concepts, financial analysis, and reporting. An M.Com. in Accounting and Taxation covers taxation subjects like income tax laws, corporate taxation, international taxation, and tax planning.

What is the difference between a career in taxation and auditing?

A job in taxation involves working with tax laws, compliance, planning, and giving tax advice to people and businesses. Auditing careers focus on examining financial statements, ensuring accounting standards compliance, and providing independent opinions on financial record accuracy.
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