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1) what is the career progression in tax, if any? and how do I go about it?
2) is there a chance of stepping into commercial laws - like a basket of tax, ibc, securities etc?
3) what are the points on my cv I should focus to get there w this?
Now here’s the real deal. For lawyers, tax practice is competitive and challenging mostly because of lack of exposure to this area. The tough completion faced from CAs and finance professionals only adds to a lawyer’s worries. If you are a lawyer and doing taxes for 10 years and more, then you have faced the toughest completion that a lawyer in India faces professionally and most likely you have excelled at it. Those talking about the demise of IDT practice are the ones who have wilted in the face of tough competition from CAs and finance professionals and have decided to lay the blame elsewhere. This gives them a convenient escape.
Remember that no other legal practice, be it M&A or B&F or GC, faces the level of competition that a tax lawyer faces. Out here, you shine if you beat not just your fellow lawyer, but also your fellow CAs and finance guys. So stop laying the blame elsewhere and look within.
Only compliance remains but it's a fish market place where even account writing shops compete. Then comes CAs. An ambitious lawyer should not waste his energy in this.
Dedication, perseverance & all is fine for rodomontade (sorry Tharoor) but it doesn't bring money.
Everything else is ma$turbation..
I left tax practice in 2022.
Total PQE 9 yrs
However, I'm way too scared to start from scratch.
Since you're a law student and not a CA, I would suggest that you don't start at a Big 4 firm, where they are likely to put a bunch of compliance work on you, depending on the team. Look for firms that specialise in indirect tax laws for internships and for starting off your career. This will allow you to get some good training in the first couple of years. You can think of progressing to bigger firms after that, and they will be eager to hire you due to your speciality. That will also help with pay progression, so don't worry too much about that (unless you have major financial difficulties, in which case, you may have to consider your options).
I'm not sure where you'll get to practise in IDT, IBC and securities laws, but you may find litigation lawyers who do this kind of work and make your mark there.
As for the resume part, you can add a few certificate courses, webinars, etc. on tax laws, and any tax internship experience will be helpful. (Please make sure to enjoy law school as long as you are there, though, because work will be extremely challenging after you get out!)
It's a very competitive field, tbh. Especially because, except for firms specialising in tax, bigger firms have smaller tax teams. But if you do enjoy the work and put in the week to get good at it, you can excel. Please keep in mind, though, that I've seen a lot of people joining tax teams just to realise it's not for them (especially because it's a pretty niche area), and that might happen for you too. And that's okay too. The important thing is to figure out what you like and what you're good at, and go after it. :)
P.S. A lot of firms have offices in Bangalore, and I know a bunch of tax lawyers working out of these offices. Your locale doesn't have to change for you to be able to choose your fav area of law.