FOLLOW THRESHOLD LIMIT OF TAX AUDIT ASSIGNMENTS STRICTLY

As per Chapter VI of Council General Guidelines, 2008 (Tax Audit Assignments under Section 44AB of the Income Tax Act, 1961), CA in practice shall not accept, in a FY, more than 60 of tax audit assignments as prescribed under Section 44AB of the Income Tax Act, 1961.

In case of firm of Chartered Accountants in practice, 60 tax audit assignments per partner of the firm, in a FY. Therefore, if there are 10 partners in a firm of Chartered Accountants in practice, then all the partners of the firm can collectively sign 600 tax audit reports. This maximum limit of 600 tax audit assignments may be distributed between the partners in any manner whatsoever.

For instance, 1 partner can individually sign 600 tax audit reports in case remaining 9 partners are not signing any tax audit report.

The maximum number of tax audits that can be undertaken by a CA is limited to 60. Request to members to follow limit Strictly. In UDIN regime, ICAI have data readily and may issue notices.

Note: Audits conducted under Section 44AD, 44ADA and 44AE of the Incometax Act, 1961 shall not be taken into account for the purpose of reckoning the limit of 60

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