News

The Direct Taxes Committee of ICAI has released the eleventh edition of a publication titled "Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961 (Revised 2026)." 

ICAI Releases Eleventh Edition of Guidance Note on Tax Audit under Section 44AB of Income Tax Act, 1961 (Revised 2026)

The ICAI has issued an Exposure Draft of its Guidance Note on Tax Audit under Section 44AB, outlining audit procedures, reporting requirements, and compliance obligations for businesses and professionals.

ICAI Releases Exposure Draft of Guidance Note on Tax Audit Under Section 44AB of Income Tax Act

Articles

A practical guide explaining when tax audit is applicable under Section 44AB, and how it interacts with presumptive taxation provisions like Sections 44AD, 44ADA, and 44AE.

Tax Audit Confusion? Here’s the Simple Truth Behind All Limits

Judgement

Two Section 44AB tax audits conducted without COP were held to be professional misconduct.

ICAI Reprimands CA for Signing Tax Audit Reports Without Certificate of Practice

Uploading two Section 44AB tax audit reports without full-time Certificate of Practice held as professional misconduct.

ICAI Reprimands CA for Conducting Tax Audits While Holding Part-Time COP

The Tribunal held that Section 271B presupposes the existence of books of account which are required to be audited under Section 44AB.

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ICAI Releases Eleventh Edition of Guidance Note on Tax Audit under Section 44AB of Income Tax Act, 1961 (Revised 2026)

ICAI Releases Exposure Draft of Guidance Note on Tax Audit Under Section 44AB of Income Tax Act

Tax Audit Confusion? Here’s the Simple Truth Behind All Limits

ICAI Reprimands CA for Signing Tax Audit Reports Without Certificate of Practice

ICAI Reprimands CA for Conducting Tax Audits While Holding Part-Time COP

ITAT Quashes Rs. 1.50 Lakh Penalty Where No Books of Account Were Maintained