FM Introduces New Profession Of Tax Return Preparers

Hyderabad: Introducing a new profession of tax return preparers, an initiative declared by Union finance minister P Chidambaram in his last budget, is hoped to trigger the income tax (I-T) compliance among small and marginal income sections, besides giving a feedback on their income patterns. About 3,000 qualified tax return preparers are going to be produced via the National Institute of Information Technology (NIIT), the nodal agency to train and issue certificates as tax return preparers. The creation of professional tax return preparers outside the department will remove the fears normally seen among the small income individuals about I-T, besides helping them to file returns. The government is targeting to further simplify the procedures to make tax compliance a normal practice among all sections of society.