Competitive Exams: Current Affairs 2012: Tax Return Preparer Scheme

  • It is an initiative of the Income Tax Department to help small and marginal tax payers in filing of their Income Tax Returns. This Scheme is applicable to individual and Hindu Undivided Family (HUF) tax payers who can take assistance of Tax Return Preparer (TRP) in preparation and filing of their Income Tax Returns.

  • The TRPs are self employed graduates who are trained by the Income Tax Department for filing of Income Tax Returns as well as quarterly TDS statements.

  • The TRPs are authorized to collect nominal charges of Rs. 250 or less from the tax payers for preparing their Income Tax Returns. The Department also pays incentive to the TRPs for preparing of returns of tax payers which is a percentage of the total tax paid as per the returns prepared by the TRP subject to a maximum of Rs. 1000.

  • In order to make the Income Tax Return filing experience even more convenient, the Income Tax

Department has started two more taxpayer friendly initiatives ‘Register for Home Visit’ and' Online Tax

HelP'Nowa taxpayer can take help of trained professionals either online or at their homes.

Courtesy: The Hindu