Santosh ChoudharySantosh Choudhary asked 1 year ago
1 Answers
RaviRavi Staff answered 1 year ago

Yes, in exercise of the powers conferred by Clause (1) of Part II of the Second Schedule to the Chartered Accountants Act, 1949, the Council of the Institute has issued Chapter VI of Council General Guidelines, 2008 which specify that a member of the Institute in practice shall be deemed to be guilty of professional misconduct, if he accepts, in a financial year, more than the specified number of tax audit assignments under Section 44AB of the Income Tax Act, 1961 (The limit has been raised from 45 to 60 audits w.e.f. 2014-15)

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