Tax Audit must remain with Chartered Accountants, Says Select Committee Report

CAs retain exclusive Tax Audit rights; CMAs, CS excluded

In early 2024, the Ministry of Finance introduced the draft Income-tax Bill, 2023. It said that only Chartered Accountants would qualify as “accountants” for tax audits. That’s right; Cost Accountants, and Company Secretaries were left out of the party. And now, as of July 21, 2025, the verdict is in. It all started quietly in early 2024 The Ministry of Finance had just put forward the draft Income-tax Bill, 2023, to overhaul the Income Tax Act,…

Tax Audit must remain with Chartered Accountants, Says Select Committee Report

Tax Audit must remain with Chartered Accountants, Says Select Committee Report On Monday, the Select Committee presented its report on the Income Tax Bill 2025 in the Lok Sabha, suggesting 285 amendments to the past bill to make it shorter and simpler. To review the amended Income Tax Bill 2025, the Lok Sabha Speaker Om […]