Tax audit report may be made mandatory for e-filing of returns
The government is considering a proposal to make tax audit reports mandatory for e-filing of income tax returns.This follows a recommendation by the Income Tax (I-T) department after the Satyam accounting fraud issue broke in January following founder Ramalinga Raju`s confession. I-T officials said since the returns were e-filed, there was no provision to check whether or not the tax audit reports were certified by the chartered accountant.Current norms require all companies to conduct audits under section 44 AB, which is otherwise known as “tax audit”.
