Latest Expert Exchange Queries
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 :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: TDS :: Central Excise rule to resale the machines to a new company :: list of goods taxed at 4% :: VAT RATES :: due date for vat payment :: ACCOUNTING STANDARD :: empanelment :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit
 
 
News Headlines »
 Make your inventory and invoicing software GST Ready from Binarysoft
 Filing income-tax returns gets simpler for salaried persons
 Ten rules you must follow while filing income tax returns
 Reforming the income tax tribunal
 How the new system might impact consumers and businesses
 10 ways you get benefited from filing your tax return
 Returns under CGST Act,2017 with Rules
 Ten facts to know about filing income tax return this year
 The Ten Commandments of Tax Filing
 How to claim income tax refund
 How to time your buys to have best of two tax regimes

Tax preparers scheme no threat to CAs
December, 26th 2006

The finance ministry has defended its pet project to train educated youths as tax return preparers (TRPs), saying it did not infringe on the rights of the chartered accountants or other tax professionals.

The TRP scheme has been introduced only with a view to help in preparing and filing returns by small and marginal individuals and HUF tax-payers for more tax compliance, as per the affidavit filed by the ministry in Delhi High Court.

This was stated in a reply to a PIL challenging the scheme introduced by the ministry to assist tax-payers in filing their returns. The petitioner, a chartered accountant, had sought directions from the court to the ministry to stop the scheme.

The Delhi High Court, on November 20, had issued notices to the finance ministry and the director general of income tax. The affidavit submitted that the scheme was as per the provisions of Section 139B of Income Tax Act. There was no challenge to this Section and no public interest was involved, it said and argued that the PIL should be rejected.

The ministrys document said that none of the statutory functions of chartered accountants have been affected by the launch of the TRP scheme as preparing and filing of IT returns was not a statutory function of CAs alone.

Section 139(1) of the IT Act casts a liability or onus on an assessee to prepare and furnish IT returns by himself or he can get it prepared and filed through any other person, including a professional like CA, advocate or IT practitioner. Therefore, the assertion that only CAs were authorised to prepare and file IT returns was incorrect, it said. The affidavit, further, said a committee appointed by CBDT had submitted that 80 lakh taxpayers stopped filing returns, and many more may not file their returns. Hence, a simpler mechanism needed to be evolved which could help these individuals in filing returns, it said.

As per the scheme, graduates in commerce, law, economics, mathematics and statistics will be trained as tax return preparers by the I-T department in collaboration with NIIT in a nine-day training programme. About 5,000 TRPs were to be trained on a pilot basis from this financial year at 100 centres across 80 cities. Earlier, the petitioner had contended that the scheme encroached on the jurisdiction of chartered accountants, and claimed they alone were eligible to prepare tax returns.

The TRP scheme envisaged a mere nine-day training to graduates, who would practice as CAs in filing returns with the income tax department, thereby giving a go-by to the canon and law in its true spirit, the petitioner had argued. Terming the very scheme contrary to the provisions of Chartered Accountants Act, the petitioner had contended that its implementation would render CAs jobless.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

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