Check out the latest additions to CAalley ...

Updates were in the following categories:

Indian News

International News

MCA eForms

LLP eForms

ICAI Guidance Note

Legal Updates

  • Income Tax
  • Service Tax
  • MCA
  • Insolvency and Bankruptcy Code
  • SEBI
  • Central Excise
  • Customs
  • RBI


Indian News:

GSTN on track to get taxpayers on board

Self-registration of firms for shipping final goods to EU

Banks refusing to accept over Rs.5,000 in old notes, complain depositors

Banks ask for more capital from FM

Bad debt provisioning: RBI urges govt to give full tax deduction to banks

Govt plans threshold on tax exemption for political parties : Arun Jaitley

Transfer pricing may come back to haunt investors from cyprus

Finance Minister said no questioning on deposits at one go, but some banks prefer to do so

Tax dispute resolution scheme fails to take off, Only 300 assessees come forward

Demonetisation: Govt gets 4,000 tip-offs on black money in just 3 days

Govt working on ways to let companies start business in 4 days flat

Sebi notifies norms for public issue of REITs

Public want Budget to focus on curbing black money

Less tax for small traders on digital transactions: Govt

Come budget, digital pay will be less taxing for customers

Narendra Modi govt may hike base Income Tax slab from Rs 2.5 lakh to Rs 4 lakh, says report; spokesperson terms it ‘baseless’

Digital payment mechanisms will give rise to vexed legal issues: CJI

No limit on keeping cash at home: Govt.

Office boy from slums gets Rs 5.4 crore Income Tax dept notice

LPG subsidy: I-T to share data of taxpayer who earn over Rs 10L

Under pressure, banks hand over scrutiny to their auditing firms

New rules: You can deposit more than Rs 5,000 in bank accounts only once till 30 Dec

PF deposits to fetch lower interest now: EPFO cuts rate to 8.65% from 8.8%, lowest in 7 years

Open your pension account under NPS through eNPS using your own Aadhaar card

The only issue is on sharing burden of assessment: Jaitley on GST

Changeover to GST: Nobody has luxury of time, says Jaitley

Demonetisation: FinMin clarifies on scrutiny of political parties under I-T law

Budget to focus on higher spending: Jaitley

No woman director in 15 PSUs: Govt

CAG pulls up FinMin for giving Rs 7,700 cr interest on refunds

No tax terrorism following demonetisation, says Piyush Goyal

Deposit in bank accounts of political parties exempt from tax

Now, new email ID to report black money

Black money taxation Bill gets Presidential assent

CBDT sends 3,000 notices for high bank deposits post notes ban

Cyprus DTAA from April, Mauritius to remain preferred route

Cyprus removed from India's tax blacklist

Rs 6,700 crore comes in as first instalment of tax under IDS

Unaccounted cash, deposits can be disclosed under new scheme with 50% tax before April 1

No reason to review independent directors guidelines: SEBI

RBI just capped withdrawal from certain bank accounts

All efforts being made to implement GST from April 1: Government

Demonetisation: No regulatory obstacles for NRIs depositing banned notes, says Bank of England

Demonetisation: CBDT warns assessees against drastically revising returns

I-T dept mulls action against Mahesh Shah for misleading source of Rs 13,860 cr

Gujarat State govt waives 12 percent VAT on swipe machines


International News:

PCAOB censures Deloitte's Netherlands firm

Supreme Court draws line for compliance on insider trading; 'downstream' tips still murky


MCA eForms:

Updated on December 19, 2016


LLP eForms:

Updated on December 19, 2016


ICAI Guidance Note:

Guidance Note on Accounting for Oil and Gas Producing Activities (Ind AS) [Published on December 14, 2016]


Legal Updates

Income Tax:

Measures for Promoting Digital Payments & Creation of Less-Cash Economy [Press Release]

Jurisdiction u/s 119G [No.117]

The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana Rules, 2016 [No.116]

Pradhan Mantri Garib Kalyan Yojana, 2016 - Validity thereof [No.115]

The Pradhan Mantri Garib Kalyan Deposit Scheme, 2016

The Taxation Laws (Second Amendment) Act, 2016 [Press Release]

DTAA with Cyprus [Press Release]

Notification No.86/2013 rescinded [No.114]

Filing of Revised Income Tax Returns by the Tax Payers Post De-Monetisation of Currency [Press Release]


Service Tax:

The Service Tax (Fifth Amendment) Rules, 2016 [No.53]



Delegations of Powers to Regional Directors under section 458 of CA, 2013

The National Company Law Tribunal (Procedure for reduction of share capital of company) Rules, 2016

Companies (Compromises, Arrangements and Amalgamations) Rules, 2016


Insolvency and Bankruptcy Code:

Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016



Enhanced Supervision of Stock Brokers and Depository Participants

Guidelines for public issue of units of REITs

Applicability of Principles of Financial Market Infrastructures on Commodity Derivatives Exchanges

Master Circular for Stock Exchange and Clearing Corporation

Master Circular for Depositories

SEBI (Employees Service) (Second Amendment) Regulations, 2016 (w.e.f. December 15, 2016)


Central Excise:

Export warehousing-Extension of facility in Ahmedabad District of Gujarat [Circular No.1051]



Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver [No.148(NT)]

Rate of exchange of conversion of the foreign currency with effect from 16th December, 2016 [No.147(NT)]



Withdrawal of Legal Tender Character of existing Rs.500/- and Rs.1000/- Bank Notes (Specified Bank Notes) - Deposit of Specified Bank Notes (SBNs) into bank accounts

Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 - Operational Guidelines

Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016

Exchange facility to foreign citizens

Special measures upto March 31, 2017: Rationalisation of Merchant Discount Rate for transactions upto Rs.2000/-

Special Measures upto March 31, 2017 : Rationalisation of customer charges for Immediate Payment Service (IMPS), Unified Payment Interface (UPI) & Unstructured Supplementary Service Data (USSD)

Compliance to provisions of Master Direction on KYC