Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
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.
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