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: empanelment :: VAT RATES :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: ACCOUNTING STANDARDS :: VAT Audit :: Central Excise rule to resale the machines to a new company :: form 3cd :: list of goods taxed at 4% :: due date for vat payment :: ACCOUNTING STANDARD
 
 
« News Headlines »
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns

I-T's going to be easier with TRPs
May, 24th 2007

Do you get a headache trying to fill your income-tax return form? Dont fret. The I-T department has readied a force of 3,737 young graduates, who will help you file returns without having to leave your home.

It is an attempt by the income-tax department to deliver services to its constituents right at their doorstep, at no or marginal cost, finance minister P Chidambaram said at a convocation ceremony for these graduates or tax return preparers (TRPs).

The TRPs have been trained by NIIT in partnership with the I-T department. The course content for the training was provided by Taxmann. The department will not only be able to generate employment through this unique initiative, but also increase the number of assessees.

TRPs, who would help the department get new assessees to file returns, will be incentivised. They will get commission from the department to help new taxpayers file 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, the FM said, adding the department would launch an advertising campaign to popularise the scheme.

Mr Chidambaram hoped other institutions, such as insurance companies 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 an extended arm of the Central Board of Direct Taxes, should be able to deter people from evading taxes and increase compliance.

Mr Chidambaram asserted that tax return forms in India were among the simplest in the world and it was incorrect to say these were outdated and complex. Referring to the new tax forms, he said ITR-1, meant for individual tax payers, was among the simplest tax return forms and easier than the previous Saral form. He said the new income-tax code will be out before the end of this year.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

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