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of <h1>Clause 63 Income Tax Bill 2025: Mandatory Audit for High-Earning Businesses and Professionals, Exceptions Apply</h1> Clause 63 of the Income Tax Bill, 2025 mandates a tax audit for individuals engaged in business or profession if certain conditions are met. Businesses with over 10 crore in sales, where 95% of transactions are digital, or over 1 crore otherwise, and professions with receipts over 50 lakh must have accounts audited by an accountant before a specified date. Exceptions apply if profits align with sections 58(2) or 61(2). The audit report must be submitted by the specified date, which is one month before the income return due date. Compliance with other laws' audit requirements suffices if conditions are met.
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