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of <h1>Clarification on Tax Audit for Non-Standard Accounting Years: Section 44AB Requires Audit for Financial Year Only.</h1> The circular addresses challenges faced by companies with non-standard accounting years in complying with section 44AB of the Income-tax Act, 1961. It clarifies that despite companies adopting accounting periods other than the financial year, the tax audit must be conducted for the financial year, as defined by the Act. The tax auditor is required to audit and certify the accounts for the financial year, not the company's chosen accounting year. The circular specifies that the tax audit report should be submitted in Form 3CB as per rule 6G(1)(b) of the Income-tax Rules.
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