Income Tax : The Income Tax Act, 2025 introduces detailed reporting requirements for books maintained in electronic form. Tax auditors must now...
Income Tax : Tax auditors must now report all purchases and sales of unquoted shares under Clause 47 of Form 26. The key takeaway is increased ...
Income Tax : Clause 43 in Tax Audit Form No. 26 requires auditors to verify remittances reported in Part-D of Form 145. Incorrect classificatio...
CA, CS, CMA : The FAQs explain how the 60 Tax Audit assignment ceiling will operate through the UDIN system from 1 April 2026. ICAI clarified wh...
Income Tax : Explains when professionals must undergo tax audit based on Sections 44ADA, 44AD, and 44AB. Key takeaway: audit depends on profess...
CA, CS, CMA : The UDIN portal will now validate turnover, gross receipts, and presumptive tax conditions before allowing UDIN generation for tax...
CA, CS, CMA : UDIN generation now requires disclosure of preceding year audit details for specific audit categories. The update strengthens audi...
Income Tax : Gujarat HC has directed CBDT to ensure that there is a mandatory one-month gap between date for furnishing tax audit reports (unde...
Income Tax : Rajasthan High Court granted a one-month extension for filing TARs under Section 44AB for AY 2025-26, citing delayed audit utility...
Income Tax : The Pune Chartered Accountants' Society has requested an extension for tax audit and ITR filing deadlines for FY 2024-25, citing t...
Income Tax : The Tribunal held that audit under section 44AB depends on turnover, not taxability of income. Exempt entities must still comply i...
Income Tax : ITAT Delhi allows Henna Industries' appeal, deleting a Rs. 9.30 lakh disallowance made by the CPC under Section 143(1), confirming...
Income Tax : HC directed CBDT to issue a circular extending due date for filing income tax returns to 30th November 2025, especially for taxpay...
Income Tax : The Gujarat High Court has issued notice to the Union of India, demanding an explanation for not extending the Income Tax Return (...
Income Tax : ITAT Kolkata ruled that the assessee’s double addition in the tax audit was a genuine error, dismissing Revenue’s appeal for A...
Income Tax : CBDT Circular 15/2025 extends the AY 2025-26 ITR filing deadline for audited accounts from Oct 31 to Dec 10, 2025. Audit reports a...
CA, CS, CMA : ICAI sets limit of 60 tax audit assignments per CA or partner annually, effective from 1 April 2026, replacing earlier 2008 guidel...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Company Law : NFRA issues order penalizing CA Pawan Jain and Mis Kumar Jain & Associates for lapses in issuing reports under Income Tax Act for ...
Income Tax : Read Circular 18/2023 from the Government of India Ministry of Finance. Learn about the extension of the filing deadline for Incom...
The Income Tax Act, 2025 introduces detailed reporting requirements for books maintained in electronic form. Tax auditors must now disclose accounting software, storage systems, server locations, and compliance with backup requirements.
Tax auditors must now report all purchases and sales of unquoted shares under Clause 47 of Form 26. The key takeaway is increased scrutiny of transactions involving differences between FMV and transaction value.
The workbook provides structured annexures for balance confirmations, statutory dues, bank reconciliations, loan reporting, and comparative analysis, helping organize tax audit documentation.
Clause 43 in Tax Audit Form No. 26 requires auditors to verify remittances reported in Part-D of Form 145. Incorrect classification of non-taxable foreign payments may invite tax department inquiries and litigation.
The FAQs explain how the 60 Tax Audit assignment ceiling will operate through the UDIN system from 1 April 2026. ICAI clarified which audit forms will count toward the limit and how assignments across firms, branches, and revised reports will be treated.
Explains when professionals must undergo tax audit based on Sections 44ADA, 44AD, and 44AB. Key takeaway: audit depends on profession type, turnover, and declared profit thresholds.
The new law introduces audit requirements for businesses declaring profits below presumptive rates. It removes the earlier flexibility of avoiding audit without opting for presumptive taxation.
The issue concerns applicability of tax audit based on turnover thresholds. The ruling highlights that exceeding prescribed limits mandates audit compliance under Section 44AB.
The new Form 26 replaces multiple audit forms with a single structured framework. It enhances transparency and introduces system-driven verification. The key takeaway is simplified yet stricter tax audit compliance.
Explains Section 44AD applicability for non-specified professions, eligibility, limits, and tax audit rules under Sections 44AB and 44AA.
