Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The Institute of Chartered Accountants has issued guidelines effective from April 1, 2026, limiting the number of tax audit assignments a Chartered Accountant in practice may accept and sign to 60 per financial year. This limit applies individually and per partner in a firm, with aggregate limits for partners involved in multiple firms or individual assignments. Certain tax audits under specific Income-tax Act provisions are excluded from this count. Revisions of tax audit reports do not affect the limit. Audits of head offices and branches of the same entity count as a single assignment. Part-time practicing partners are excluded from firm assignment calculations. Chartered Accountants must maintain records of accepted audits as prescribed. These guidelines supersede previous ones and empower the Council to issue clarifications to resolve implementation difficulties consistent with the Chartered Accountants Act.
The Institute of Chartered Accountants has issued guidelines effective from April 1, 2026, limiting the number of tax audit assignments a Chartered Accountant in practice may accept and sign to 60 per financial year. This limit applies individually and per partner in a firm, with aggregate limits for partners involved in multiple firms or individual assignments. Certain tax audits under specific Income-tax Act provisions are excluded from this count. Revisions of tax audit reports do not affect the limit. Audits of head offices and branches of the same entity count as a single assignment. Part-time practicing partners are excluded from firm assignment calculations. Chartered Accountants must maintain records of accepted audits as prescribed. These guidelines supersede previous ones and empower the Council to issue clarifications to resolve implementation difficulties consistent with the Chartered Accountants Act.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
