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Tax Audits

ICAI Tightens UDIN Rules: Field-Level Validation Live, 60 Tax Audit Cap per Partner from April 1, 2026

The Institute of Chartered Accountants of India (ICAI) has tightened rules for UDIN (unique document identification number) generation in tax...

Forms 3CA, 3CB & 3CD Replaced by New Tax Audit Form 26: Income Tax Act 2025

Tax Audit u/s 44AB Restrictions under ICAI Guidelines: Key Takeaways from Shaji Poulose vs ICAI

Tax Audit u/s 44AB Not Applicable When Turnover is Below ₹60 Lakh: ITAT Deletes Addition [Read...

Items Reportable in Tax Audit Report & Key Clauses of Form 3CD [Checklist Here]

[Breaking] Karnataka HC Directs CBDT to Extend Tax Audit Due Date to 31st October 2025

The Karnataka High Court has directed the Central Board of Direct Taxes (CBDT) to extend the due date for filing tax audit reports to 31 October 2025. The order was passed in a writ petition filed ...

Judicial Powers vs. Statutory Deadlines: Can High Courts Extend Due Dates under Income Tax

The income tax system in India is organized around tough statutory deadlines. While the Central Board of Direct Taxes ( CBDT ) notifies statutory due dates, petitioners frequently approach High ...

Relief to Axis Finance Ltd: ITAT Allows Club Membership Fees for Employees incurred as Business Expense [Read Order]

In a ruling of the Mumbai bench of the Income Tax Appellate Tribunal (ITAT), which partly allowed the claim of Axis Finance Ltd, it was held that club membership fees for employees incurred by the...

ITR for Loans: Your Essential Guide to Income Tax Return Requirements for Bank Loan Applications

Applying for a bank loan in India, whether a personal loan, home loan, or business loan, can often feel like navigating a complicated maze of paperwork and documentation. Among the essential...

ICAI releases Guidance Note on Tax Audits - 2025 Edition

The Institute of Chartered Accountants of India (ICAI) today released the much-anticipated “Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961” (Revised 2025), the tenth...

Limit of 60 Assignments per CA/Partner: ICAI Officially Notifies New Tax Audit Cap from AY 2026-27 [Read Notification]

The number of tax audit assignments that a chartered accountant or each partner of a chartered accountancy firm may take on has been capped by updated guidelines published in the E-gazette by the...

Section 44AB Tax Audits: Do’s and Don’ts for Smooth Reporting

Every year, as tax filing season approaches, many firms and professionals face an important compliance step, which is a tax audit under Section 44AB of the Income Tax Act, 1961. Section 44AB of the...