Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: VAT Audit :: empanelment :: VAT RATES :: articles on VAT and GST in India :: TDS :: form 3cd :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« News Headlines »
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year
 How To File Income Tax Return (ITR) Online For FY2016-17? Last Date July 31
 Last date for filing income tax return approaches: What is Form 26AS? How it can help you claim refunds

Free professional help for filing returns next year
November, 07th 2006

Self-employed individuals, women, senior citizens and Hindu undivided families (HUFs) whose income-tax returns do not have to be audited will be able to use tax return preparers for filing their returns free of cost from next year. 
 
According to the Tax Return Preparers Scheme, unveiled by Finance Minister P Chidambaram today, 5,000 graduates with degrees in commerce, law, economics, mathematics, statistics or management would be trained to prepare tax returns. The scheme was announced in this years Budget. 
 
These individuals will be selected from 100 centres in 84 cities across the country and certified by the second week of February next year. 
 
The finance ministry is launching a publicity campaign for the scheme from tomorrow. Ministry officials said they planned to make the facility available free of cost to the self-employed, small businessmen, salaried employees, senior citizens and women with income of up to Rs 3 lakh per year. We want to make the scheme more popular, which is why it may be extended to all individuals and HUFs whose returns do not have to be audited, an official said. 
 
He added the scheme was expected to reduce the cost of compliance for small taxpayers. Bigger taxpayers would have to pay Rs 250 per return. 
 
The preparers would be paid 3 per cent of the tax collected for the first years return of a new tax payer, 2 per cent for the second year and 1 per cent for the third year, Chidambaram said. 
 
The return preparers will be selected through an examination and trained for nine days with the help of NIIT, which will be paid Rs 5 crore. 
 
Chidambaram said a fee of Rs 100 would be charged from each applicant along with a deposit of Rs 1,000, which would be returned after successful completion of training. The amount was being charged to ensure that only serious candidates applied, he said. 
 
Each preparer will, on completion of training, be given a certificate and an identity card bearing an identification number, which will be used to monitor their performance. Quality alerts would be sent and certificates cancelled if the performance was not up to the mark, officials said. 
 
Officials said the revenue department would prepare a database of preparers, which would be posted on the website of the income-tax department. 

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions