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Online tax consultancy

Purabi Nayak (Student) (26 Points)

01 May 2023

I have completed M. Com. I have done 3years of Articleship in a CA firm. I have knowledge of income tax filing and gst filling. Can i practice as tax consultant with these qualifications?

What are other requirements to open a sole proprietor ship tax consultancy business?

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2 Replies

NARENDRA (ACCOUNTS MANAGER) (2166 Points)
Replied 02 May 2023

The Only requirement is thorough knowledge & nothing.........you can do it............ ..........

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Reckelton James (Accountant) (30 Points)
Replied 24 February 2025

Yes, with an M.Com degree and 3 years of articleship experience in a CA firm, along with your knowledge of income tax filing and GST filing, you are well-qualified to practice as a tax consultant.

To open a sole proprietorship tax consultancy business, here are some essential steps and requirements:

Business Registration:
- Register your business name under a sole proprietorship.
- Get a GST registration if your annual turnover exceeds the prescribed limit.
Professional Certifications (Optional but Recommended):
- While not mandatory, obtaining certifications like a Tax Return Preparer (TRP) certificate or becoming a Registered Income Tax Practitioner under Section 288 of the Income Tax Act can add credibility.
PAN and Bank Account:
- Get a PAN card for your business and open a current bank account in the business name.
Professional Tax Registration (if applicable in your state).
Infrastructure Setup:
- Set up a dedicated office space, even if it’s a home office.
Software and Tools:
- Invest in reliable tax filing and accounting software.
Networking and Marketing:
- Build connections with clients and promote your services online and offline.
Compliance Knowledge:
- Stay updated with changes in tax laws, GST updates, and compliance requirements.