Tax Return Preparer opportunity: If you are a graduate or cleared intermediate level examination of

Central Board of Direct Taxes has provided an opportunity to people who holds a graduate degree from any recognised Indian University or institution, or has passed the intermediate level examination conducted by the Institute of Chartered Accountants of India or the Institute of Company Secretaries of India or the Institute of Certified Management Accountants of India. They shall be eligible to act as a Tax Return Preparer (TRP) as per Tax Return Preparer Scheme, 2006 and Tax Return Preparer (Amendment) Scheme, 2018.

An individual has to be 21 years of age to become a TRP.

The application for becoming a TRP is to be submitted with Demand Draft of ₹ 250 (earlier ₹100) in the favour of "NIIT Limited-TRPSCHEME". Upon submission of application, a test will be held. On passing the test, training will be conducted for which non-refundable ₹ 750 (earlier refundable ₹ 1,000) and proof of passing qualifying examination will be submitted.

Upon completion of training, the candidates shall be certified Tax Return Preparer.

A TRP can charge fees of ₹ 250 from the assessee.

For the first three assessment years incentives will will also be given to TRPs from the Resource Centre or the Partner Organisation as follows:-

• Five percent of the tax paid on the income declared in the Income Tax Return for First Assessment Year which has been prepared and furnished by him limited to ₹ 5,000.

• Three percent of the tax paid on the income declared in the Income Tax Return for the Second Assessment Year which has been prepared and furnished by him limited to ₹ 3,000.

• Two percent of the tax paid on the income declared in the Income Tax Return for the Third Assessment Year which has been prepared and furnished by him limited to ₹ 2,000.

For these first three assessment years no fees will be charged from the assessee. But if the incentive paid to the TRP is less than ₹ 250 than the amount exceeding the amount of incentive to be received upto ₹ 250 will be charged as fees by the TRP.

There is one more catch in this scheme. If an assessee got his Income Tax Return prepared and furnished by a TRP in a previous year then in the succeeding year if the assessee gets his return Prepared and Furnished by another TRP then the another TRP would be receiving incentives equal to the amount that would have been receivable to the previous TRP if the return had been prepared and furnished by him/her.

For more information visit www.trpscheme.com.