The Institute of Chartered Accountants of India (ICAI) will enforce from April 2026 its new guidelines on allowing a partner of an accounting firm to take up a maximum of 60 tax audits in a year, its president Charanjot Singh Nanda said on Friday.
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As per extant guidelines, while a single chartered accountant operating on their own can undertake up to 60 tax audits in a fiscal year, a partnership firm, as a whole, is allowed to conduct audits up to the combined limit of all its partners.
Read more at: The Economic Times
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