Summary
- Starting April 1, 2026, the ceiling for tax-audit assignments under Section 44AB will be set at 60 per Financial Year, a shift from the previous Assessment Year basis.
- Chartered Accountants must aggregate assignments across different capacities, and certain audits related to presumptive taxation are excluded from this ceiling.
- The interplay between Sections 44AB and 44AD will require auditors to assess various factors beyond just turnover to determine tax audit applicability.
- This change emphasizes the importance of accurate record-keeping and compliance with Unique Document Identification Number (UDIN) requirements for practitioners.
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