9911796707
TMI BlogTax Return Preparer Scheme notified from Dec 1, 2006X X X X Extracts X X X X X X X X Extracts X X X X ..... h whom an agreement has been entered into by the Board or the Resource Centre authorising it to act as Partner Organisation under this Scheme; (e) "Resource Centre" means the Directorate of Income Tax constituted by the Board to act as the Resource Centre under this Scheme; (f) "Tax Return Preparer" means any individual who has been issued a "Tax Return Preparer Certificate" and a "unique identification number" under clause (viii) of paragraph 4 of this Scheme by the Partner Organisation to carry on the profession of preparing the returns of income in accordance with the provisions of this Scheme: Provided that a person being a person- (i) referred to in clause (ii) or clause (iii) or clause (iv) of sub-section (2) of section 288; or (ii) who is in employment and income from which is chargeable to income-tax under the head "salaries"shall not be entitled to act as "Tax Return Preparer" (g) Words and expressions used herein but not defined and defined in the Act shall have the meanings respectively assigned to them in the Act. Educational qualification for Tax Return Preparers. 3. Any individual who holds a graduation degree from a recognized Indian University in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come under section 139 of the Act for any assessment year after getting it prepared through a Tax Return Preparer: Provided that the return of income for an assessment year shall not be prepared and furnished through a Tax Return Preparer, if- (i) an eligible person is carrying out business or profession during the previous year relevant to such assessment year and accounts of the business or profession for that previous year are required to be audited under section 44AB of the Act or under any other law for the time being in force; or (ii) eligible person is not resident in India during the previous year relevant to such assessment year: Provided further that an eligible person shall not furnish a revised return of income under sub- section (5) of section 139 of the Act for any assessment year through a Tax Return Preparer unless he has furnished the original return of income for that assessment year through such or any other Tax Return Preparer: Provided also that a return of income which is required to be furnished in response to a notice under clause (i) of sub-section (1) of section 142 or section 148 or section 153A of the Act shall not be prepared and furnished thr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the fee charged and received by him under sub-paragraph (2) of paragraph 9 of this Scheme; (vii) furnish a statement of particulars mentioned in item (vi) for every month on or before the seventh day of the immediately following month to the Resource Centre. Selection and responsibilities of the Partner Organisation. 8. (1) The Board shall select a Partner Organisation to partner with the Resource Centre in the smooth implementation of the Scheme. (2) The Partner Organisation shall function under the overall guidance and control of the Resource Centre and follow the instructions issued to it by the Resource Centre from time to time about implementation of the scheme. (3) The Partner Organisation shall be responsible to carry out the activities which it is required to carry out under paragraph 4 of this Scheme. (4) The Partner Organisation shall maintain the profile of the Tax Return Preparers during their training and monitor their performance as Tax Return Preparers. (5) The Partner Organisation shall be responsible for disbursement of incentives to the Tax Return Preparers under the Scheme. (6) The Partner Organisation shall perform its functions to the satisf ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es not exceed two hundred and fifty rupees, the Tax Return Preparer shall charge from the eligible person for that eligible assessment year a fee of the amount by which the amount of two hundred and fifty rupees exceeds the amount disbursable under sub-paragraph (1). (3) The disbursement due to a Tax Return Preparer under sub-paragraph (1) shall be made after processing the return under sub-section (1) of section 143. (4) The Board may alter or omit the provisions relating to disbursement under sub-paragraph (1) at any time without any prior notice. Explanation:- For the purposes of this paragraph- (i) in relation to an eligible person- (a) "First Eligible Assessment Year" means any assessment year if the eligible person has not furnished the return of his income for three assessment years or more than three assessment years immediately preceding such assessment year; (b) "Second Eligible Assessment Year" means the assessment year immediately following the First Eligible Assessment Year; (c) "Third Eligible Assessment Year" means the assessment year immediately following the Second Eligible Assessment Year. (ii) "tax paid" in relation to an eligible assessment y ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Scheme, becomes a person referred to in clause (ii) or clause (iii) or clause (iv) of sub- section (2) of section 288 of the Act or takes an employment income from which is chargeable under the head "Salaries". (2) A Tax Return Preparer may continue to act as such, unless- (i) the Tax Return Preparer Certificate issued to him under clause (viii) of paragraph 4 of this Scheme is suspended or withdrawn by the Resource Centre; or (ii) this Scheme is withdrawn by the Board. Responsibilities and functions of the Resource Centre. 12. (1) The Resource Centre shall be responsible for day to day administration of the Scheme. (2) The functions of the Resource Centre shall include- (i) to specify, with prior approval of the Board, (a) the number of persons to be enrolled during a financial year for training to act as Tax Return Preparers; (b) the number of centres for training and their location where at training to be imparted during a financial year; (c) the number of persons to be trained at each centre for training during a financial year; (ii) to specify the curriculum and all other matters relating to the training of Tax Return Preparers; (iii) maintain the pa ..... 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