ICAI Limits Chartered Accountants to 60 Tax Audit Assignments Per Year Starting April 2026 Under New Guidelines

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....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.........