Check out the detailed analysis on tax and regulatory amendments announced by the Hon'ble Finance Minister at her Budget 2025 -26 speech. This guide explains the updated Guidance Note on Tax Audit under Section 44AB of the Income- tax Act, 1961, for the Assessment Year 2025 -26 (Financial Year 2024-25). It clarifies who needs a tax audit , points out key changes in Form 3CD, including new clauses for digital transactions, MSME reporting, and buybacks. It also outlines the audit process, lists important due dates, and details the penalties for non-compliance. The guide offers best practices for taxpayers to help ensure smooth ... Learn about new Form 3CD clauses, MSME payment disclosures, Section 44BBC, audit thresholds, and compliance checklist for AY 2025 -26. These changes are applicable for tax audit reports signed on or after April 1, 2025 and thus relevant for the Assessment Year 2025 –26 onwards.
