ICAI issues guidance note on tax audit under section 44AB

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  • By Taxmann
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  • Last Updated on 1 August, 2025

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ICAI Tax audit Section 44AB Guidance note Finance Act 2025 Finance (No. 2) Act 2024

ICAI’s revised 2025 10th edition

ICAI Releases Revised Guidance Note on Tax Audit (2025 Edition)

The Institute of Chartered Accountants of India (ICAI), through its Direct Taxes Committee, has released the Revised Guidance Note on Tax Audit under Section 44AB for the year 2025. This updated version comes as a critical resource for professionals conducting tax audits, especially in the context of continuous legislative changes. Section 44AB of the Income-tax Act mandates tax audits for certain categories of taxpayers based on turnover or receipts, making it essential for professionals to stay abreast of interpretational and procedural developments.

Incorporation of Amendments from Finance Acts 2024 & 2025

The 2025 edition of the guidance note comprehensively incorporates amendments introduced by the Finance (No. 2) Act, 2024 and the Finance Act, 2025. These legislative changes have impacted several provisions relevant to tax audit procedures, including reporting requirements, thresholds, and compliance timelines. By reflecting these updates, the guidance note ensures that practitioners are equipped with the latest legal framework and can conduct audits in full compliance with current law.

A Practical and Detailed Approach for Members

The revised guidance note offers not just legal analysis but also practical insights, illustrations, and explanations to assist chartered accountants in performing tax audits efficiently. It addresses common issues faced during audit procedures and offers clarity on various clauses of Form 3CA/3CB and Form 3CD. The note is designed to support professionals in maintaining high standards of diligence, accuracy, and consistency in tax audit reporting.

Supporting Professional Excellence and Compliance

This release reaffirms ICAI’s commitment to strengthening professional excellence and aiding compliance among its members. The guidance note acts as a valuable tool, helping members navigate complex provisions, reduce litigation risks, and deliver quality service to clients. With the ever-evolving tax landscape, such comprehensive guidance is crucial to ensuring that tax audit processes are aligned with legislative intent and best practices.

Click Here To Read The Full Update

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied