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