Exposure Draft Guidance Note on Reports of Audit u/s 12A/ 10(23C) of the Income-tax Act, 1961

The Direct Tax Committee of The Institute of Chartered Accountants of India, New Delhi published a Exposure Draft Guidance Note on Reports of Audit u/s 12A/ 10(23C) of the Income-tax Act, 1961 seeking public comments latest by 29.05.2024 in the link https://docs.google.com/forms/d/e/1FAIpQLSdew-xwPW2mJfeNPZSAj9jreGIc_bUOCTb-N3BSlf9_9aOIKQ/viewform?usp=sf_link

The object of this Guidance Note is to provide guidance to the auditors for conduct of audit under section 12A and 10(23C). This Guidance Note will also be useful for those in charge of governance of charitable institutions for discharging their respective responsibilities towards audit of accounts of charitable institutions under clause (b) of the tenth proviso to section 10(23C) and 12A(1)(b)(ii) of the Act.

The Exposure Draft is available in the link https://resource.cdn.icai.org/80016dtc64148.pdf