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Tax preparation can be a means to make money and Govt of India has provided you an opportunity to become a TRP or Tax Return Preparer.
Who is a TRP?
The TRPs will be authorized to prepare Income Tax Returns for individual and HUF taxpayers. The Tax Return Preparer Scheme [see Notification Number S.O. 2039(E) dated 28th November 2006 as amended vide Notification Number 84/2010 dated 22nd November 2010 on www.trpscheme(dot)com] was launched by the Income Tax Department during the year 2006-07.
Candidates from batch I and II who clear the assessment, will be issued a Certificate and a Unique Identification Number which will authorize them under the Income-Tax Act, 1961 to:
- Prepare and file Returns of individual and HUF taxpayers
- Prepare and file quarterly TDS statements
- Register as e-Return Intermediaries
Notification No. 84/2010 dated 22-11-2010 has withdrawn the restriction on salaried employees to act as Tax Return Prepare. After the amendment a salaried employee can also act as Tax Return Prepare, however, the following persons cannot act as Tax Return Preparer:
(i) Any officer of a Scheduled Bank with which the assessee maintains a current account
or has other regular dealings.
(ii) A legal practitioner who is entitled to practice in any civil court in India.
(iii) A chartered accountant
If a Tax Rerun Preparer holds any of the above qualification after being qualified a Tax
Return Prepare, he shall not be entitled to act as a Tax Return Prepare.
You can read all about taxation opportunities in India and make extra money for your family in your spare time.
