Audit - Section 348 ( New) / Section 12A(1)(b) (Old)

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....on 348 prescribes the mandatory audit requirement for a registered non-profit organisation where its total income, computed without giving effect to the provisions of the relevant Part, exceeds the maximum amount not chargeable to income-tax for the relevant tax year. Section 348 - Threshold for Audit The audit requirement is triggered when: • the assessee is a registered non-....

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....be prescribed. Comparative Analysis: Section 12A(1)(b) of the Income-tax Act, 1961 vs. Section 348 of the Income-tax Act, 2025 Particulars Section 12A(1)(b) - Income-tax Act, 1961 Section 348 - Income-tax Act, 2025 Persons covered Applies to a trust or institution claiming exemption under the charitable/religious trust provisions, subject to the conditions prescrib....