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of <h1>New Income Tax Bill 2025: Clause 63 Boosts Digital Audit Thresholds for Businesses, Updates Professional Audit Requirements.</h1> The Income Tax Bill, 2025, through Clause 63, revises tax audit requirements for businesses and professionals, emphasizing digital transactions and updating audit thresholds. Clause 63 mandates audits for businesses with turnover over Rs. 10 crore if 95% of transactions are digital, and Rs. 1 crore otherwise; professionals with receipts over Rs. 50 lakh are also included. It contrasts with Section 44AB of the Income Tax Act, 1961, which focuses on turnover with less emphasis on digital transactions. Clause 63 aims to enhance transparency, reduce compliance burdens, and align with global digital practices, modernizing the tax audit framework.
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