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HomeTaxationIncome TaxUDIN System Introduces Change Just 5 Days Before Tax Audit Deadline

UDIN System Introduces Change Just 5 Days Before Tax Audit Deadline

UDIN System Introduces Change Just 5 Days Before Tax Audit Deadline

As the due date for filing the tax audit report approaches, there is an important update for the Chartered Accountant. The UDIN (Unique Document Identification Number) website has introduced a new change for reporting tax audits. Under this change, the UDIN system now requires auditors to report the audit opinion of the assessees. The last date to file the tax audit report for the financial year 2024-25 is October 31, 2025.

Now the CAs must give a brief summary of their opinion at the time of UDIN creation. UDIN is a unique number assigned to documents that are certified by Chartered Accountants. The main objective of this number is to give a unique identity to every document attested by a CA. This helps in the verification of documents, like a tax audit report or tax filing. It prevents fraud, as many individuals impersonate practising CAs and forge their signatures on these documents. Therefore, ICAI came up with the UDIN system.

Many professionals are not supporting this new change in the UDIN system, as there are only 5 days left for the filing of the Tax audit report. With this short time, it is important for auditors to understand and implement these updates on time.

Nidhi
Nidhi
Nidhi is a Bachelor of Commerce student from Delhi University. As a content writer at Finvestment, I specialize in crafting insightful and engaging financial content Related to Mutual Funds, Stocks, Personal Tax, Insurance Etc...