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 Good news, find Tax Return Preparers soon at a place near you; 5 things to know

I-T returns wont tax so much
May, 24th 2007

Do you find filing of income-tax returns worrisome? Now, you no longer need to bother aboutit. The income-tax department has readied a force of 3,737 young graduates who will help you file your returns without leaving the comfort of your home.

It is an attempt by the income-tax department to deliver the services to its constituents right at their doorstep, either at no cost or at a very marginal cost, finance minister P Chidambaram said at a convocation ceremony held for these young graduates or Tax Return Preparers (TRPs)

These TRPs have been trained by IT education company NIIT in partnership with the income department. The course content for the training was provided by Taxmann.

The department will be able to not only generate employment through this unique initiative, but also increase the number of assessees under its umbrella. TRPs, which help the department in getting a new assessee to file a return, will be incentivised. They will get commission mission from the department to assist a new tax payers in filing returns for three years. They could also charge up to Rs 250 as service fee from old assessees.

The government would also assist them in taking loans from banks to buy computers for their work, he said adding that the department would also launch an advertising campaign to popularise the scheme.

Mr Chidambaram hoped that other institutions like insurance and banks would employ TRPs to sell their products. The tax preparer scheme

was announced in Budget 2006-07, with several motives, including increasing taxes.

The minister said TRPs who will be extended arm of the Central Board of Direct Taxes should be able to deter people from evading taxes and increase compliance. He asserted that tax return forms in India were among the simplest in the world and it was a myth to say that these were outdated and complex. Referring to new tax forms, Mr

Chidambaram said ITR-1, meant for individual tax payers, was among the simplest tax returns form and simpler than previous Saral form. He said the new income tax code will be out before the year end.

 
 
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