The Central Government, on Friday notified the amended Tax Return Preparer Scheme, 2006 which seeks to assist small and marginal taxpayers in preparing and filing their tax returns by creating a legion of ‘Tax Return Preparers’ (TRPs).
The scheme was introduced by the income tax department in the year 2006-07. Applications for the TRP trainings are advertized in the leading newspapers by the Tax Department, on a periodic basis.
As per the amended scheme, an individual, who holds a bachelor degree from a recognised Indian University or institution, or has passed the intermediate level examination conducted by the Institute of Chartered Accountants of India or the Institute of Company Secretaries of India or the Institute of Certified Management Accountants of India, shall be eligible to act as Tax Return Preparer.
The amendment further stipulates the amount of disbursement for any eligible person in relation to an eligible year. The amount shall not exceed,- (a) five thousand rupees in case of First Eligible Assessment Year; (b) three thousand rupees in case of Second Eligible Assessment Year; and (c) two thousand rupees in case of Third Eligible Assessment Year.
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