Skip to main content

I-T dept to appoint 7600 more TRPs to cover entire country

I-T dept to appoint 7600 more TRPs to cover entire country
Every district of the country will soon have at least one trained personnel to assist small taxpayers in filing ITRs, with the Income Tax Department proposing to appoint 7,600 additional experts whose services will also be available on mobile application.

The Central Board of Direct Taxes (CBDT), the apex policy-making body of the tax department, has decided to enlarge the ambit of the 2006 Tax Return Preparer Scheme (TRPS) by making the service "digital" and covering all the 708 districts of the country.

"It is proposed to provide sufficient number of Tax Return Preparers (TRPs) in every district by scaling up of number of TRPs from a total 5,400 to 13,000 in the country," according to an I-T department blueprint, accessed by PTI.

"It is proposed that every district in the country should have at least three TRPs," it added.

A senior official working on the project said the aim was to ensure hassle-free and 'from home' tax filing service to assessees without they taking pains to go to a Chartered Accountant or a person who has expertise in filing tax returns.

"Filing an ITR is still not easy for many people. The TRP Scheme was launched about a decade ago with this fact in mind and the view that such services should be available at a low cost to tax payers.

"At present, not every district in the country has a TRP. With the expansion of the tax base over the years and government's directive to enhance tax payer services, the new plan has been envisaged," the officer added.

He said, "7,600 new TRPs will be trained and appointed by the tax department."

Under the new digital plan for the scheme, he said, a taxpayer will be able to find his nearest TRP by logging on to the soon-to-be-launched 'Aaykar Mitra' mobile app, much like the prevalent cab rental apps offered for commuters by taxi aggregators such as Uber and Ola.

"The taxpayers will be able to send their documents to the TRP in an online mode and even rate the services of the the preparer, much like what is available to commuters to rate their service providing drivers in the rental cab apps," he said.

As per official data, there are 5,400 TRPs in the country at present who have been trained and appointed by the I-T department over the years.

A TRP, as per official rates, can charge a maximum of Rs 250 for filing one ITR.

The TRP scheme was launched in 2006 with the objective to provide small taxpayers an alternative and easy channel to file their annual Income Tax Returns (ITRs).

The TRP scheme has undergone three phases of expansion and the latest would be the fourth and the largest addition to the TRP scheme, the officer said.

The Times of India, New delhi, 11th September 2017

Comments

Popular posts from this blog

RBI deputy governor cautions fintech platform lenders on privacy concerns during loan recovery

  India's digital lending infrastructure has made the loan sanctioning system online. Yet, loan recovery still needs a “feet on the street” approach, Swaminathan J, deputy governor of the Reserve Bank of India, said at a media event on Tuesday, September 2, according to news agency ANI.According to the ANI report, the deputy governor flagged that fintech operators in the digital lending segment are giving out loans to customers with poor credit profiles and later using aggressive recovery tactics.“While loan sanctioning and disbursement have become increasingly digital, effective collection and recovery still require a 'feet on the street' and empathetic approach. Many fintech platforms operate on a business model that involves extending small-value loans to customers often with poor credit profiles,” Swaminathan J said.   Fintech platforms' business models The central bank deputy governor highlighted that many fintech platforms' business models involve providing sm

Credit card spending growth declines on RBI gaze, stress build-up

  Credit card spends have further slowed down to 16.6 per cent in the current financial year (FY25), following the Reserve Bank of India’s tightening of unsecured lending norms and rising delinquencies, and increased stress in the portfolio.Typically, during the festival season (September–December), credit card spends peak as several credit card-issuing banks offer discounts and cashbacks on e-commerce and other platforms. This is a reversal of trend in the past three financial years stretching to FY21 due to RBI’s restrictions.In the previous financial year (FY24), credit card spends rose by 27.8 per cent, but were low compared to FY23 which surged by 47.5 per cent. In FY22, the spending increased 54.1 per cent, according to data compiled by Macquarie Research.ICICI Bank recorded 4.4 per cent gross credit losses in its FY24 credit card portfolio as against 3.2 per cent year-on-year. SBI Cards’ credit losses in the segment stood at 7.4 per cent in FY24 and 6.2 per cent in FY23, the rep

India can't rely on wealthy to drive growth: Ex-RBI Dy Guv Viral Acharya

  India can’t rely on wealthy individuals to drive growth and expect the overall economy to improve, Viral Acharya, former deputy governor of the Reserve Bank of India (RBI) said on Monday.Acharya, who is the C V Starr Professor of Economics in the Department of Finance at New York University’s Stern School of Business (NYU-Stern), said after the Covid-19 pandemic, rural consumption and investments have weakened.We can’t be pumping our growth through the rich and expect that the economy as a whole will do better,” he said while speaking at an event organised by Elara Capital here.f there has to be a trickle-down, it should have actually happened by now,” Acharya said, adding that when the rich keep getting wealthier and wealthier, they have a savings problem.   “The bank account keeps getting bigger, hence they look for financial assets to invest in. India is closed, so our money can't go outside India that easily. So, it has to chase the limited financial assets in the country and