Tax audit limit for Chartered Accountants
Ever wondered how many tax audits a Chartered Accountant is eligible to take? Is there a limit on the number of tax audits for a Chartered Accountant?
Yes there is a limit on the number of tax audits to be undertaken by a Chartered Accountant in full time practice. Such ceiling is specified by the ICAI. A CA cannot take more than 60 income tax audits in a financial year. But if a firm has more partners, then the number of 60 will be multiplied with the number of partners. If a firm has 5 partners, then the number of income tax audits that can be taken in a year is 5*60 that is 300. The earlier limit of 45 has been increased to 60 by the ICAI.
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