Accountants Definition remains same in new tax law : Section 515(3)(b)
The new income tax law, under Section 515(3)(b) of income tax bill, 2025, has retained the existing definition of accountants, ensuring that Chartered Accountants (CAs) continue to serve as auditors without any changes. This decision maintains consistency in financial reporting and auditing practices, providing clarity for businesses and professionals alike. Also, Chartered Accountants (CAs) will continue […]
Introduction to Income Tax Audit Section 44AB of the Income Tax Act mandates an audit of accounts for certain individuals and businesses, ensuring financial transparency and compliance with tax laws. This article provides a detailed and structured overview of the applicability, exemptions, and audit requirements under this section. 
Applicability of Section 44AB The