« Top Headlines » Open DEMAT Account in 24 hrs  Mock Test Papers Series - I & II for Students appearing in CA Foundation January 2027 Examination.  Income Tax Rules 2026: CBDT Introduces Revised Form 161 for Penalty Waiver, Clarifies Misreporting Categories and Taxpayer Relief  ITR Filing and Income Tax Audit Deadline Extended: 5 Critical Things Taxpayers Must Know  Filing Belated ITR for AY 2026-27? Know Which Losses You Can Carry Forward and Which You May Lose  CBDT Extends Tax Audit Report Deadline to October 21, ITR Filing Last Date to November 21 for AY 2026-27  CBDT Extends AY 2026-27 ITR Filing Deadline for Tax-Audit Cases: New Dates and Key Compliance Details  Foreign Assets Missing From Your ITR? Income Tax Department Opens One-Time Disclosure Window  Tax Audit Deadline September 30: Why AIS, TDS and GST Figures May Not Match Your ITR and What Taxpayers Should Do  Tax audit deadline September 30: Common mistakes taxpayers should avoid  Your ITR says ‘verified’, but the refund hasn’t arrived? 5 reasons why your money could be stuck  Missed the ITR Deadline but TDS Refund Is Due? Here’s How You Can Still Claim Your Money «  ICAI refers AS-15 issue to sub group... Why you must have a PAN card... » CAs grapple with tax audit woes September, 08th 2006 Chartered Accountants are working overtime to ensure compliance with the new amendments to the tax audit forms. The amendments made by CBDT to tax audit form has met with opposition from CAs. For example, dividend income does not attract tax in the case of a share broking firm. The form wants the CAs to certify how much expenditure has been incurred in earning such a dividend income and then disallow it. Tax consultants say certifying such a computation is unrealistic. "Its a difficult situation because all investments are not maintained together.The bank accounts are a hotch potch of all activities together so to work out a direct linkage of expenditure or finance is a difficult situation for big corporations,"said Jitendra Sanghavi, Chartered Accountant. The amendment also asks auditors to verify if corporates have deducted tax at source on all transactions, which CAs say is an impossible task. "In case of big companies, where TDS is in huge volumes, there are numerous transactions.It may be impossible to verify each transaction and see if tax has been deducted or not," said Nihar Jambusaria, Former Chairman Western India at ICAI. CAs say they need more time to file tax audit forms and hope the Finance Ministry will extend the October 31st deadline.