Check out the latest additions to CAalley ...

Updates were in the following categories:

Indian News

International News

Budget 2017


ICAI Exposure Draft

SEBI Consultation Paper

IRDA Exposure Draft

RBI Drafts

MCA eForms

LLP eForms

Legal Updates

  • Income Tax
  • MCA
  • SEBI
  • IRDA
  • RBI
  • DGFT


Indian News:

Lok Sabha passes Specified Bank Notes Bill

Model GST law to be finalised by this month end: Central Board of Excise and Custom Member

Post note ban, I-T Dept detects Rs.5,400 crore in undisclosed income

CBDT signs four more unilateral Advance Pricing Agreements

Lok Sabha passes Payment of Wages Bill

CSR issue: Show cause to 536 cos

Arun Jaitley moves Demonetisation Bill for passage in Lok Sabha

I-T may relax norms for search operations if compliance improves

Sebi asks top 500 listed companies to adopt integrated reporting

Finance Ministry warns employees of action for criticising govt policies

What’s sweet for Apple, is for all

Meeting Apple's demands to be tough under GST: Hasmukh Adhia

Banks can’t escape responsibility of NPAs: C Rangarajan

Taxman not to ask questions on deposits up to Rs 2.5 lakh: CBDT

Personal I-T base must widen before corporate tax is cut, says Revenue Secretary Hasmukh Adhia

Ignored in Budget, exporters hope for sops in foreign trade policy review

Tax dept scans 1-cr accounts under 'Operation Clean Money'

Hope to take GST legislations to Parliament in Budget session: Jaitley

Firms may have to pay wages of Rs 10,000 or above by cheque, bank transfer

SEBI proposes steps to boost liquidity in corporate bonds

Tax Dept asks taxpayers to e-verify deposits post note ban

SEBI: ‘Portfolio managers can keep client funds in separate a/c’

Govt looks to raise Rs. 11,000 cr from listing of insurers


International News:

Sarbanes-Oxley Authorizes Damages for Reputational Harm

Tax practitioners’ information will soon be available at IRS website

GASB releases guidance for state and local governments on fiduciary activities


Budget 2017:

I-T Dept may not have to disclose ‘reason to believe’ for searches

Govt to issue exemption list on new tax for unlisted firms

Penalty of equal amount for receiving cash over Rs 3 lakh: Adhia

Budget 2017 proposes capital gains tax on division of family trusts

Jaitley rules out rethink on 10% surcharge on the rich

Centre should free bad assets to revive economy: Experts

Stiff penalty proposal leaves CAs miffed

Start-ups, FDI to be exempt from new tax on unlisted firms

Foreign oil firms get exempted from tax on sale of storage leftover

Tax cut on gains from carbon credit sales won’t benefit much

All I-T returns must be filed by March-end of assessment year

Budget proposals on political funding reform inconsequential: ADR

Transfer pricing: Centre moves forward, introduces ‘secondary adjustments’

ICAI eFlash: Amendments Proposed by The Finance Bill, 2017

More power to tax man makes India Inc jittery

Breather for gains from property and inherited jewellery



Interchange Fee: Revenue generating area for card issuing banks
[By CA Vibhuti Gupta]


ICAI Exposure Draft:

Ind AS-compliant Schedule III to the Companies Act, 2013, for Non-Banking Financial Companies (NBFCs)
[Last date for comments: March 6, 2017]


SEBI Consultation Paper:

Consolidation and re-issuance of debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008
[Last date for comments: February 28, 2017]


IRDA Exposure Draft:

Exposure Draft on IRDAI (Protection of Policyholders’ Interests) Regulations, 2017
[Last date for comments: February 15, 2017 to be sent to This email address is being protected from spambots. You need JavaScript enabled to view it. ]


RBI Drafts:

Draft Guidelines on governance, measurement and management of Interest Rate Risk in Banking Book
[Last date for comments: March 3, 2017]

Revised Draft Directions on Commercial Papers (CPs)
[Last date for comments: February 24, 2017 to be sent to This email address is being protected from spambots. You need JavaScript enabled to view it. ]


MCA eForms:

Updated on February 7, 2017


LLP eForms:

Updated on February 7, 2017


Legal Updates

Income Tax:

Claim of reliefs envisaged by BIFR in Sanctioned Rehabilitation Schemes by sick companies in their ITRs



The Investor Education and Protection Fund Authority Rules, 2017



Integrated Reporting by Listed Entities



Modification to Guidelines on Point of Sales Person – Life Insurance



Amendment to Pradhan Mantri Garib Kalyan Deposit Scheme

Risk Management and Inter-bank Dealings: Permitting Non Resident Indians (NRIs) access to Exchange Traded Currency Derivatives (ETCD) market

Basel III Capital Regulations- Additional Tier 1 Capital

FEMA Foreign Exchange (Compounding Proceedings) Rules, 2000 (the Rules) - Compounding of Contraventions under FEMA, 1999

Review of Guidelines on “Pricing of Credit”



Addition of new sub para 5.03(c)(i) and (ii) and amendment in sub para 5.10(d)(ii) of Handbook of Procedures 2015-20 [Public Notice No.56]