CA’S DE­TAILS ON TAX FORM TO EN­SURE CLIENTS ARE NOT DUPED

Hindustan Times ST (Mumbai) - Live - - FRONT PAGE - Timsy Jaipuria

NEW DELHI: Fi­nan­cial con­sul­tants, in­clud­ing char­tered ac­coun­tants (CAs), will have to pro­vide their names and reg­is­tra­tion num­bers while fil­ing their clients’ in­come tax dec­la­ra­tion from next year, a move aimed at en­sur­ing eth­i­cal prac­tices and bet­ter com­pli­ance.

The gov­ern­ment will make chan­gesintheIn­comeTaxRe­turn (ITR) forms to in­clude such in­for­ma­tion, Rani Singh Nair, chair­per­son of the Cen­tral Board of Di­rect Taxes, told HT on Fri­day. This will help crack down on fake con­sul­tants and save gen­uine tax pay­ers from trou­ble, she said.

How­ever, the onus of the ITR de­tails will re­main with the tax­payer. Fake tax pro­fes­sional will be called out and re­ported to the rel­e­vant reg­u­la­tory body.

In­dia has 7.4 crore-odd tax-pay­ers. A large num­ber of salaried in­di­vid­u­als and busi­ness­men take the help of tax lawyers or char­tered ac­coun­tants who charge any­thing be­tween Rs500 to Rs5,000 for ITR fil­ings. “Griev­ances have been re­ceived from tax­pay­ers that some tax pro­fes­sion­als are not care­fully sub­mit­ting the de­tails in the ITR and some­time nei­ther re­spond to no­tices/ com­mu­ni­ca­tions is­sued by the depart­ment nor bring it to the knowl­edge of the tax payer,” Nair said.

Tax­pay­ers will be able to ver­ify the cre­den­tials of tax pre­par­ers from the depart­ment’s web­site or from the rel­e­vant in­sti­tute where the com­plete de­tails of the pro­fes­sion­als are avail­able.

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