Procedure to Become a TRP
The Tax Return Preparer Scheme, was conceptualized by the Income Tax Department (ITD) and launched in 2006-07. Applications for the TRP trainings are advertized in the leading newspapers by the Tax Department, on a periodic basis.
Eligibility Criteria to Become TRP
Qualification:
Candidates should possess a bachelor’s degree from a recognized university in any of the following subjects:
Age:
Candidates between the age of twenty-one (21) and thirty-five (35) years shall be eligible to apply.
Remuneration
TRPs will receive 3% of the tax paid on the returns prepared & filed for every new assessee in the 1st year (subject to a maximum of Rs. 1000/-), 2% in the second year and 1% in the third year and Rs. 250 for the returns prepared & filed for the old assessees.
Role of TRPs
OR 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 through a Tax Return Preparer.
