Increase in the number of Tax Audits that can be undertaken by professionals in a year. Â
The Council of the Indian Institute of Chartered Accountant of India at its 331st meeting held from 10th February, 2014 has decided to increase the “specified number of tax audit assignments†for a practicing Chartered Accountant as an individual or a partner in a firm.
Earlier the maximum number of Tax Audits allowed to a practicing Chartered Accountant was 45. The new limit on maximum Tax Audits that can be undertaken by a CA has been increased to 60.Â
The said amendment would be effective from the Audits conducted during the 2014-15 and onwards.Â
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