Accounting And Audit 20 October 2026
Tax Audit Steady; ITI Gains Auditors
The mandatory tax audit threshold under Section 44AB for AY 2026‑27 stays at ₹1 crore, with a new compliance guide detailing steps for businesses. Separately, the Comptroller and Auditor General has named six audit firms to conduct statutory and branch audits for ITI Limited in FY27, broadening audit coverage across the company's operations.
Tax audit threshold – The mandatory turnover limit remains ₹1 crore for AY 2026‑27. A new compliance guide explains the steps businesses must follow. (Read more)
ITI Limited audit appointments – The Comptroller and Auditor General has appointed six audit firms to handle statutory and branch audits for FY27, widening oversight of the company's operations. (Details)
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