There is a rumor doing rounds on Various Yahoo, Facebook and whatsapp group, which say that tax audit limit been increased to 60 from existing limit of 45. These groups are claiming the same been told them by a Central Council member (CCM) of Institute of Chartered Accountants of India (ICAI) . We have searched Official Website of Institute of Chartered Accountants of India but not found any such Information. We request ICAI to issue a Clarification in this regard soon.

ICAI has now clarified in this regard that Tax Audit Limit Increased From 45 to 60 for audits conducted during the financial year 2014-15 and onwards. Please read the following post for more details :- Tax Audit Limit Increased From 45 to 60 for audits

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Category : Income Tax (27505)
Type : News (13643)
Tags : section 44AB (137) Tax Audit (264)

0 responses to “Tax Audit Limit Increased to 60 ?”

  1. ramesh says:

    TAX AUDIT LIMIT NEEDS FRESH REVISION TO MIN.2 CRORE 40LACS LIMIT WAS FIXED LONG BACK WHICH WAS RAISED IT TO 60 LACS COUPLE OF YEARS AGO WHICH IS TOO LOW IN VIEW OF STEEP PRICE ESCALATIONS.

  2. Venkatesh says:

    Please any one explain what is this 45 to 60.

  3. MANOJ SINGH says:

    PLEASE, TELL ME THAT THE TAX AUDIT LIMIT HAS BEEN INCREASED TO 60 FOR AUDIT CONDUCTED FOR F.Y. 2013-2014 (i.e AY 2014-15)???

    Kya hum F.Y 2013-2014 (i.e AY 2014-15) k 60 Tax Audit assignment le skte h????
    and kya 60 Tax Audit assignment m audit conducted u/s 44AD/AE bhi count hoga kya nhi??????

    reply me soon…..

  4. hariprasad.g says:

    In my view ,there is no need of increasing limit from 45 to 60.
    What about quality of audit.? On one hand clients submit a/cs only in the month of Sept. that too in last 2 weeks,how can a CA audit in such a short time.

    2.QUALITY definitely gets affected.

  5. sudhin says:

    I sent one comment about 2 days back it is not reflecting still why this delay?

  6. TAXWELL says:

    GOOD FOR ALL PRACTICING CA’S .

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