ICAI Notifies 60 Per Partner Slab for Tax Audit [Read Notification]:

ICAI Notifies 60 Per Partner Slab for Tax Audit [Read Notification] Recently, the Institute of Chartered Accountants of India (ICAI) issued a notification dated July 25, 2025 under Section 15 (2)(fa) of the Chartered Accountants Act, 1949. ICAI introduced the guidelines, which will come into force from April 1, 2025. These guidelines restrict each accounting firm partner to a maximum of 60 tax audits annually. below are the mentioned guidelines:

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Short title and commencement 1. These guidelines will be called The Chartered Accountants (Limit on Number of Tax Audits) Guidelines, 2015. 2. The guidelines will take effect on 01/04/26 onwards. 3. These guidelines are issued regarding to the limit on the number of tax audit assignments under Section 44AB of the Income tax Act, 1961. Definitions 4. For the purpose of these guidelines: (a) 'Act' refers to the Chartered Accountants Act, 1949. (b) Under Section 6 of the Act, 'Chartered Accountant in practice' refers to a person who is a member of the Institute and has a valid Certificate of Practice. (c) Under Section 9 of the Act, "Council" refers to the Council of the Institute as constituted. (d) "Institute" means the Institute of Chartered Accountants of India constituted under the Act. 5. Under the Chartered Accountants Act, 1949 and the rules and regulations, all the other words and expressions used but not defined above have the similar meaning as allotted to them. 6. According to these guidelines, A Chartered Accountant in practice should not approve and sign, more than the "specified number of tax audit assignments." in a financial year.

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To know more details of the above specified guidelines by the Institute of Chartered Accountants of India, you can refer to the below-mentioned notification: