ITR-1 is the simplest form in the world – PC
The Finance Minister Chidambaram, addressing the Convocation Ceremony of the first Batch of Tax Return Preparers (TRPs) said that the TRP scheme was a unique initiative of the Government to encourage young men and women graduates to embark upon a successful career as TRPs and eventually as financial advisors to small and marginal taxpayers.
Projecting direct taxes as a progressive tax and the taxes of the future, the Finance Minister emphasised that an unprecedented and highest ever tax collection of Rs.2,29,505crore was achieved by the Income Tax department at the lowest cost of 0.59%.
Allaying the common misconception that tax laws and procedures in India were among the most complicated in the world, the Finance Minister emphasised that the tax return forms, specially the return form ITR-I, were among the simplest in the world.
The TRPs would help collect more taxes and inculcate the habit of voluntary tax compliance among small and marginal taxpayers. The Finance Minister personally distributed certificates to 23 TRPs, each of whom had scored 100% in the certification test.
In her welcome address, CBDT Chief, IndiraBhargava said that the Tax Return Preparer Scheme announced in the union budget 2006-07 is one of the boldest attempts by the Income-tax department to provide quality taxpayer service to the small and marginal taxpayers so that the citizens can fulfil their tax obligation with ease. She said, the scheme gives a unique opportunity for the Income Tax Department to provide self-employment opportunities to the bright youth of the country and give them a platform to extend a helping hand to the members of their community.
The Department has already set up a Resource Centre that is headed by a Commissioner of Income-tax to monitor the implementation of the scheme. The Resource Centre will constantly monitor the work of the TRPs in the field and issue quality alerts to them, as and when needed.