Important Update for Chartered Accountants!
The Institute of Chartered Accountants of India (ICAI) has released a significant notification clarifying the limit on tax audit assignments, effective from April 1, 2026. A Chartered Accountant can now undertake a maximum of 60 tax audit assignments per financial year, per partner, under Section 44AB of the Income-tax Act, 1961.
These comprehensive guidelines detail how this limit applies to individuals, firms, and multi-partner entities, ensuring clarity and compliance for all professionals.
Stay updated to align with these crucial changes!
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