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Check out the latest additions to CAalley ...

Updates were in the following categories:

Indian News

International News

Budget 2017 News

MCA eForms

IRDA Drafts

AICPA Drafts

Legal Updates

  • Income Tax
  • MCA
  • DIPP
  • RBI
  • Customs
  • DGFT

 


Indian News:

Funds transferred from Provident Fund to National Pension System not taxable, says PFRDA

Relief for e-commerce companies, GST Council caps tax collected at source at 1%

DIPP to open registration for start ups from March 15

Panama papers leak: Supreme Court asks Centre to file reports in 4 weeks

New Trademark Rules: 5 things that have changed

New trademark rules cut number of forms from 74 to 8

Doing business gets easier, but India still among worst performers

FinMin calls for sunset clause for govt schemes

SC issues notice to Union of India on RBI's refusal to accept old Rs. 500, 1,000 notes

Centre open to rethink definition of startups: DIPP Secretary

Sebi needs to be tough but not disruptive: Former chief UK Sinha

Cos to have single form for EPFO

5% levy on small eateries, GST Council decides

Small biz not ready for GST, delay roll out till September: CAIT

GST Council approves draft CGST and IGST Bills

100% I-T sop to end for some NGO donations

If the GST Council makes GST any more onerous, or raises taxes, it may not be worth it

Most companies may be struggling with GST

Chawla committee report on audit rotation expected in March

CBEC asks tax officers to speed up GST migration

Benami Act violators to face double whammy of legal action

Bank NPAs: ARC to tackle bad loans unlikely as Narendra Modi govt opts for wait and watch policy

Government to soon announce relaxations in the Foreign Direct Investment

Exit non-core businesses, says Finance Ministry to state-owned banks

GST Bill to make peak tax rate 40%, slabs intact for now

CBDT issues new guidelines to officials investigating suspicious deposits post-note ban

Banks to levy Rs 150 after four cash transactions

Model GST Bill to go for 20% peak tax; slabs intact for now

Income tax returns: No tax on Rs 20 lakh gratuity for private employees

GST final draft to retain clause on services sector

RBI sets up panel to review cyber threats

 

International News:

UK watchdog finds auditors' quality controls lacking

 

Budget 2017 News:

Finance Bill will be passed in Parliament before March 31, says FM Arun Jaitley

 


MCA eForms:

Updated on March 7, 2017

 


IRDA Drafts:

Exposure Draft on Revision in Premium Rates for Motor Third Party Insurance Covers for the Financial Year 2017-18
[Last date for comments: March 18, 2017 to be sent to This email address is being protected from spambots. You need JavaScript enabled to view it. & This email address is being protected from spambots. You need JavaScript enabled to view it. ]

Exposure Draft on "Information and Cyber Security Framework for Insurance Sector"
[Last date for comments: March 15, 2017 to be sent to Shri.Mahesh Agarwal, DGM-IT at This email address is being protected from spambots. You need JavaScript enabled to view it. & copy to This email address is being protected from spambots. You need JavaScript enabled to view it. ]

 

AICPA Drafts:

Working Draft: Aerospace and Defense Revenue Recognition Implementation Issue
[Last date for comments: May 1, 2017]

Working Draft: Broker-Dealer Revenue Recognition Implementation Issue
[Last date for comments: May 1, 2017]

Working Draft: Broker-Dealer Revenue Recognition Implementation Issue
[Last date for comments: May 1, 2017]

Working Draft: Power & Utility Entities Revenue Recognition Implementation Issue
[Last date for comments: May 1, 2017]

Working Draft: Time-share Revenue Recognition Implementation Issue
[Last date for comments: May 1, 2017]

 


Legal Updates

Income Tax:

Issue of notice u/s 133(6) of the Income-tax Act, 1961 for verification of cash deposits under 'Operation Clean Money' [Instruction No.4]

 

MCA:

The IEPF Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017

Companies (Transfer of Pending Proceedings) Amendment Rules, 2017

 

DIPP:

The Trade Marks Rules, 2017

 

RBI:

Gold Monetisation Scheme

The Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2017

Infrastructure Financing - Definition of 'Infrastructure Lending'

Financial Literacy by FLCs (Financial Literacy Centres) and rural branches - Policy Review

 

Customs:

Regarding classification of Selfie Sticks with or without Bluetooth [Instruction No.2]

Guidelines for launching of prosecution in relation to offences punishable under Customs Act, 1962 [Circular No.7]

The Courier Imports and Exports (Clearance) Amendment Regulations, 2017 [No.16(NT)]

Amendment to Notification No.62/1994-Customs (N.T.) dated 21st November, 1994 in respect of Revdanda Port in State of Maharashtra for the purpose of unloading of imported goods and loading of export goods or any class of such goods [No.15(NT)]

Rate of exchange w.e.f. March 3, 2017 [No.14(NT)]

Amendment to Notification No.09/2012-Cus reg. enabling authorised offices or agencies in India of the laboratories mentioned under para 4.74 of HBP 2015-20 [No.7]

 

DGFT:

Corrigendum to Notification No. 40/ 2015-2020 dated 23.02.2017