Taylor and Warne, who are both recovering from recent surgery, missed the recent tour to Sri Lanka and have yet to prove their fitness.
Australian Cricket Board chief executive Graham Halbish said: ``Test selectors (will) monitor the fitness of a number of players in the lead-up to the team's departure on September 29''.
Veteran fast bowler Craig McDermott, overlooked for this month's quadrangular limited overs tournament in Sri Lanka, failed to win a recall for the seven-week India tour.
Australia will play one test against India in New Delhi from October 10-14 and will join India and South Africa in a limited overs series.
Taylor, who underwent surgery three weeks ago to repair a damaged disc in his back, practised at the nets earlier this week for the first time since the operation.
Warne is recovering from an operation in May to repair ligament damage in the fourth finger of his right hand and has not bowled leg-spin in match conditions since leaving hospital.
Wicketkeeper Ian Healy, who deputised for Taylor in Sri Lanka, where the hosts easily beat Australia in the final, will revert to his normal role as vice-captain.
South Australia batsman Darren Lehmann was dropped from the squad to make way for Taylor's return at the top of the order.
Australia: Mark Taylor (captain), Ian Healy, Michael Bevan, Damien Fleming, Jason Gillespie, Brad Hogg, Stuart Law, Glenn McGrath, Ricky Ponting, Paul Reiffel, Michael Slater, Shane Warne, Mark Waugh, Steve Waugh.