Tax Audit Limit Increased From 45 to 60 for audits conducted during the financial year 2014-15 and onwards. – (11-02-2014)


In view of the enhancement of professional competence of members to perform quality services in an IT-enabled environment, the Council of the Institute at its 331st meeting held from 10th to 12th February, 2014 has decided to increase the “specified number of tax audit assignments” for practicing Chartered Accountants, as an individual or as a partner in a firm , from 45 to 60. The said limit will be effective for the audits conducted during the financial year 2014-15 and onwards. Accordingly, the Council Guidelines No.1-CA(7)/02/2008, dated 8th August,2008 stands amended from 1.4.2014 as under:-

In the Council General Guidelines, 2008, the Council Guidelines No.1-CA(7)/02/2008, dated 8th August,2008, in Chapter VI “Tax Audit assignments under Section 44AB of the Income-tax Act, 1961 “, in Explanation given in Para 6.1, in sub-para(a) and sub-para(b), the figure “45” be substituted with the figure “60”.

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0 responses to “Tax Audit Limit Increased From 45 to 60 for audits”

  1. Vipin Raturi says:

    CA Institute increase Tax Audit Limit from 45 to 60. is it possible any individual CA WILL do the 60 Tax Audit Smoothy?. CA institution pay attention only Number not quality. Many chartered accountants who practice in respected field like audit, Tax laws and have not basic knowledge respected their filed. Government should be maintain balance between CA and other professionals like Practicing Tax Advocates.

  2. B S K RAO says:

    TAX WELL JI

    Please give test mail to raoshimoga@gmail.com, with your identity, I will let you know what has been done for Tax Advocates & what is in pipeline what is the next course of action in detail. You can also join us in New Delhi

  3. TAXWELL says:

    adv B.S.K.RAO sir ji good knowledge but it should be utitilsed to help adovates. as advocates are professional brothers.sir please take step so that advocates should run thier tax practice smoothly.

  4. TAXWELL says:

    CA INSTITUTE ALWAYS MAKE LAWS WHICH EFFECT THE WHOLE ECONOMY. WITHOUT ASKING FROM PARLIAMENTRY MEMBERS.AND WHAT ABOUT ADVOCATES BASIC RIGHTS.WHY NOT SOME POWERS SHOLD BE GIVEN TO ADOVACATES TO SAFEGURAD THEIR BASIC RIGHTS TO PRACTICE IN TAXATION.

  5. B S K RAO says:

    WIDENING TAX BASE IN INCOME-TAX LAW

    In this computer era, all records of business enterprises are maintained in computers and voluntary compliance of return filing U/s 139 of Income-Tax Act are also sought in digital format. Return preparation utilities are provided by the Deptt. so that there may not be any instance of wrong claims or deduction, unless there is bug in the utility provided. Therefore, Tax Professional should be more specialized in Computer Operation rather than Income-Tax Law and Accounts at Original Side. As per Section 288(2) of Income-Tax Act, Eight class of persons are authorized to act as representative of assessee. Among them, only following Five class of persons are authorized to prepare return on behalf of assessee under Rule 12A of Income-Tax Rules :-
    Read more- https://taxguru.in/chartered-accountant/widening-tax-base-indian-tax-laws-incometax.html

  6. Jayant L Aasher says:

    This step is obviously to help the top CAs to expand and will make difficult for the fresh qualified and already struggling medium level practising CAs to get such audits. Why is the Institute not worried about increasing the non TDS limit from Rs 30000 to a higher level? This is very much less when compared to the non TDS limit for rent payment.

  7. K.MUKAMBIKA says:

    The above action of ICAI wil not definetly help to widen genuine tax base of assessees in Income-Tax Act. More persons in the line of tax practice more
    revenue to Govt. As long as monopolistic power of certification in Income-Tax given only to CA’s only, revenue will also grow in the same ratio of out put of practicing CA’s (Net out put considering death rate of practicing CA’s)

  8. Venus says:

    Small query….. today is 11th Feb, how the meeting was held during 10th to 12th February, 2014????

  9. m says:

    Institute has been Increased the Tax Audit limit it will be good news for some professional and bad news for the fresh qualified chartered Accountants.

    What action has been Institute has been taken against those who have crossed the limit of tax audit, that is signed more than 45 Tax Assignment.

  10. vinay min says:

    surprised !

    don’t understand where ICAI is heading towards ?

  11. CA Shivam Gupta says:

    This would surely pose as a challenge to newly qualified chartered accountants. Availability of more bandwidth with old CAs would attract new clients to them….

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