Do's and Don'ts for a TRP

There are various duties that a TRP needs to follow, breaching which can result in his/her cancellation of certificate by the Resource Centre.

Do's: -

Prepare the return with due diligence Affix his signature on the return prepared by him Furnish the return with the Assessing Officer having the jurisdiction over the concerned assessee or to any other officer or agency as may be directed by the Resource Centre with the approval of the Board Hand over a copy of the return to the person whose return is prepared and furnished Retain a copy of the acknowledgement of having furnished the return

A TRP maintains the following tax payer records: Name of assesses whose return of income have been prepared and furnished during that month Permanent account number of such assesses Assessment year Date of furnishing the return Acknowledgement number of filing of return Jurisdiction of the Assessing Officer Amount of income declared in the return Amount of tax payable Amount of tax paid

He has to maintain a record of the following: Amount disbursable to him under this Scheme for any eligible assessment year mentioned therein The fee charged and received by him from the client under this Scheme Furnish a statement of particulars mentioned in the points above for every month on or before seventh day of the immediately following month to the Resource Centre

Don'ts for a TRP

A TRP can be terminated, if he/she Fails to give a copy of the return to the assessee. Fails to sign the same. Fails to furnish his/her name and unique identification number in the return prepared by him/her. Fails to enter any information made available to him/her by the assessee, correctly in the return prepared by him/her. Makes repeated mistakes related to computation of income in the return prepared. Engages in any financial irregularity, forgery, or fraud. Willfully attempts to understate the income in the return or tax liability thereon. Fails to comply with the directions issued by the Resource Centre from time to time. Fails to upgrade his skills as required by the Resource Centre from time to time Takes an employment income from which is chargeable under the head 'Salaries'. Makes a wrong or fraudulent involves in any other irregularity which, in the opinion the Chief. Commissioner or the Commissioner of Income Tax, is grave in nature claim for disbursement. If he, after issue of Tax Return Preparer Certificate to him becomes a person who is not fulfilling the stated requirements.