Minister honours first TRP batch

Bangalore, May 23 (UNI) In line with Centre's initiative to improve tax administration and tax payer services, the first batch of Tax Return Preparers (TRP) graduated today and were honoured by Union Minister of State for Revenue S S Palanimanikam.

Speaking at the convocation ceremony, the Minister said TRP scheme, announced by the Union Government last year, was not just a tax payer service but was significant for several reasons.

''This scheme is designed for small and marginal tax payers, a single largest class of tax payers, who cannot and should not be required to look towards high cost tax consultants for preparing their returns of income,'' he said.

In all 3,737 unemployed graduates, forming the first batch, who successfully completed the training programme for TRPs conducted by NIIT were given away certificates. These candidates would be paid three per cent of the tax amount or Rs 1,000, whichever was less, for every new tax payer they bring in by the Income Tax Department.

Later they could charge a maximum of Rs 250 per tax payer for filing their returns. The service would be available across 80 cities in the country.

Mr Palanimanickam said the department had made arrangements for continuous update of the knowledge and skills of the TRPs. The scheme would offer a self employment opportunity to young and enterprising graduates.

In its first year of the TRP scheme, the department had targetted to train 5,000 TRPs but in view of the encouraging response, the government would train a larger number of preparers in the current year. The scheme would also be extended to service tax and small saving schemes, he said.

Meanwhile, the Minister said the self financing colleges in the country had failed to properly submit the details of their income.

''I studied the income pattern of these colleges and it was disturbing to see that they had not kept proper accounts for the huge amount of funds they had collected from the parents. They blamed it on their Chartered Accountants saying that they were new to the trade. It is their own problem and they will have to face consequences,'' he said.

UNI