Tax Return Preparers will be trained by March next year :FM

New Delhi, Dec 1 (UNI) In an effort to encourage small and medium tax payers to file their Income tax returns, the Centre proposes to build up a trained team of Tax Return Preparers (TRPs) to help them.

Finance Minister P Chidambaram said here today that the TRPs would assist individuals and Hindu Undivided Families (HUFs) to prepare and furnish their return of income.

However, the returns of income involving complexity such as those involving statutory audit would not be prepared by the TRPs, he told the Lok Sabha, in written replies.

Mr Chidamabaram said the scheme proposed to achieve the twin objectives of reducing the cost of compliance for small and medium tax-payers, thereby encouraging them to comply with tax laws and also to provide self-employment opportunities to unemployed graduates all over the country.

He said the Tax return Preparers Scheme involves selection of unemployed graduates, imparting training to them, conducting post-training examinations before certifying them as TRPs. Training would involve classroom training, self study and web-based training.

As a pilot scheme, 5,000 TRPs would be trained before March next year.

Mr Chidambaram said NIIT has been selected as the agency for selection of candidates and imparting of training to the TRPs.

He said minimum qualification for undergoing training as Tax Return Preparers is a graduation degree in commerce, law, economics, mathematics, statistics, or business management and administration.

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