The Institute of Chartered Accountants of India (ICAI) has expanded the scope of the Unique Document Identification Number (UDIN) system to include the nature of the auditor’s opinion. With effect from 20 June 2025 , Chartered Accountants issuing UDINs under the categories “GST & Tax Audit ” or ... This guide explains the updated Guidance Note on Tax Audit under Section 44AB of the Income- tax Act, 1961, for the Assessment Year 2025 -26 (Financial Year 2024-25). It clarifies who needs a tax audit , points out key changes in Form 3CD, including new clauses for digital transactions, MSME reporting, and buybacks. It also outlines the audit process, lists important due dates, and details the penalties for non-compliance. The guide offers best practices for taxpayers to help ensure smooth ... Check out the detailed analysis on tax and regulatory amendments announced by the Hon'ble Finance Minister at her Budget 2025 -26 speech. Introduction to Tax Audit in India (AY 2025 -26) A tax audit , as mandated by Section 44AB of the Income Tax Act, 1961, represents a fundamental statutory requirement for specific taxpayers in India .
