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New Delhi, March 7

The Finance Ministry has allayed fears of the chartered accountants community that the proposed institution of `Tax Return Preparers' would take away professional work from them and thereby result in loss of professional opportunities. "There is no need to have any apprehension that this (Tax Return Preparers) scheme would take away cases from you. It is not an attempt to take away work from you," a senior Central Board of Direct Taxes (CBDT) official told the members of the Institute of Chartered Accountants of India (ICAI) at a post-budget interactive session here on Tuesday. The official said the proposed scheme would only create one more alternative for small and medium taxpayers to prepare and furnish their returns of income. The ICAI officials urged the Finance Ministry to consider and include chartered accountants as tax return preparers.

(This article was published in the Business Line print edition dated March 8, 2006)
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