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of <h1>Non-Profits Must Audit Accounts if Income Exceeds Threshold per Clause 348 of Income Tax Bill 2025</h1> Clause 348 of the Income Tax Bill, 2025, mandates that if a registered non-profit organization's total income exceeds the non-taxable threshold in any tax year, its accounts must be audited by an accountant. The recipient of the income is required to submit an audit report by a specified date. This report must be in the prescribed form, duly signed and verified by the accountant, and include the required particulars as outlined in the regulations.
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