Q I have completed Maths (Hons) but am unable to find a suitable job. I would be very grateful if you could give me some details regarding a new scheme being launched by the government for tax return preparers.
— Varun Makkar
A Filing Income Tax returns can be a nightmare for most people. To facilitate matters, the government has recently launched a scheme to train a batch of professional tax return preparers (TRP) to help small and medium tax payers prepare their tax returns. This has opened a window of opportunity for self- employment for unemployed / under employed youth.
The Income Tax Department plans to provide training spread over nine days for TRPs in collaboration with the NIIT. A 15-day self-study programme will precede the actual training session to smooth out the rough edges and prepare the candidate for training.
However, as a TRP you will not be allowed to charge a fee from individuals whose income is below a specified amount (the exact figure will be determined shortly). From the rest of the tax assesses, a trained TRPs can charge up to Rs 250 per tax return. The government will pitch in by paying 3 per cent of the tax collected from new assesses in the first year as remuneration to the TRPs. In the second and third year, the remuneration will be two per cent and one per cent, respectively.
The eligibility criterion for undergoing training is a bachelor’s degree in Commerce / Law / Economics / Maths / Statistics or Management. The scheme will be launched in 100 centres spread across 80 cities. The government is fairly optimistic about this scheme and if all goes according to plan, the 5000 trained TRPs will receive their certification by February, 2007.
Tags: commerce law, degree in commerce, exact figure, filing income tax returns, hons, income tax returns, law economics, NIIT, nine days, one per cent, professional tax, rough edges, rs 250, self employment, self study, suitable job, tax payers, tax return preparers, trps, window of opportunity
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MBA program returns to SOU
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More : mailtribune.com
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