Discover the crucial declaration to safeguard tax professionals in income tax filings. Get insights on the need, benefits, and a customizable draft format for professional protection.
Ensuring Professional Protection: Declaration Safeguarding the Interests of Tax Professionals in ITR Filing
In the realm of income tax filings, a recent notice from the Income Tax Department was circulated widely on social media. The notice required the submission of comprehensive details regarding the Chartered Accountant (CA), Tax Return Preparer (TRP), or other professionals involved in the filing of the income tax return. This development has brought to light the need for safeguarding the interests of professionals engaged in income tax filings.
To address this concern, it is recommended that a well-drafted declaration be obtained from the assessee prior to the filing of their income tax return. This declaration serves as a protective measure, offering security to professionals while ensuring compliance with the Income Tax Department’s requirements.
By obtaining complete details of the CA, TRP, or professional involved in the tax filing process, this declaration establishes transparency, accountability, and adherence to legal obligations. It also provides a means to mitigate potential legal consequences.
For the benefit of professionals, a draft format of the declaration is annexed herewith. This draft declaration can be customized and utilized as a valuable resource in ensuring compliance and safeguarding the interests of professionals in the income tax filing process.
Disclaimer: This article is for informational purposes only and does not constitute legal advice. Readers are advised to consult with a qualified legal professional for guidance tailored to their specific circumstances.
[Annex: Draft Declaration Format and copy of notice]
I, _______________, S/o, W/o, D/o Shri _______________, residing at _______________ _______________ _______________, declare as under: –
1. That My PAN is _______________
2. I intend to file My Income Tax Return (ITR) for the Assessment Year (AY)………………., As I am not well-versed with the Income Tax Portal, I hereby authorize Mr/Mrs/Ms [Name of Tax Professional] of [Tax Professional’s Firm/Company] to assist me in filing my Income Tax Return in a professional capacity.
3. The details provided by me regarding my income, expenditure, deductions, balance sheet, debtors, creditors, cash, etc., are true, correct, and pertain to the aforementioned PAN.
4. I have thoroughly reviewed all the data filled in the Income Tax Form and confirm that the entire information reflected in the ITR is correct, accurate, and belongs to me.
5. I hereby undertake full responsibility for the aforementioned information provided by me.
6. I understand that if any information or details are found to be incorrect or false, I will bear complete responsibility for the same and will face any legal consequences that may arise.
7. I also authorize the use of my digital signature or generation of OTP through Aadhaar or any other mode of verification deemed necessary for the authentication of my Income Tax Return.
I, …………………………………….. declare that above Information are correct and true to best of my Knowledge & belief.