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: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: VAT Audit :: VAT RATES :: TDS :: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: ACCOUNTING STANDARD
 
 
News Headlines »
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits
 Want to save tax? Here are 6 best investment options for you
 Income Tax department activates e-filing facility for all ITRs
 All the income-tax return forms for the current assessment year are available online

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