Management and market analyst firm Research and Markets in its latest report estimates that by 2011, worth $200 million US tax return jobs will be prepared in India. And the return preparation, which is mostly a 4-month activity will lead to plethora of other accounting services to the country, feels the firm. Otherwise busy CPA firms in the peak tax season prefers to act on other lucrative accounting and tax related consulting services than the transaction processing and tax return work which are less remunerative in nature and thus outsourced to low paid seasonal tax workers in India. The solution is however, not coming without risks like legal, regulatory and ethical issues.
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