Accounting And Audit 7 September 2026
Key Tax Audit Changes for FY 2026‑27 Unveiled
India’s tax audit rules for Assessment Year 2026‑27 have been overhauled, tightening the turnover threshold, redefining reporting under Section 44AB, and adding new forms and filing deadlines. Professionals must reassess eligibility and comply to avoid penalties.
The Institute of Chartered Accountants of India issued a guidance note detailing the updated tax audit framework for AY 2026‑27.
- Turnover threshold lowered, making more entities subject to audit.
- Reporting requirements under Section 44AB revised with clearer eligibility criteria.
- New audit forms introduced and filing deadline moved to earlier in the fiscal year.
Professionals should review client turnovers against the new limit and adopt the revised reporting schedule to stay compliant. Read the full guidance note.
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