Check out the latest additions to CAalley ...

Updates were in the following categories:

Indian News

International News

Union Budget 2017

RBI Draft

IRDA Exposure Draft

Legal Updates

  • Income Tax
  • Black Money Tax
  • Company Law
  • SEBI
  • RBI
  • IRDA
  • Central Excise
  • Customs


Indian News:

Govt plans single online window for trade info

India Inc’s coffers opened up for political parties

9.29 lakh didn't respond to I-T queries, action will be taken: FM Jaitley

Cabinet greenflags amendments for cess removal ahead of GST

Relief for housing loan takers, Narendra Modi government’s interest subsidy scheme for MIG now effective from Jan 1

Linking Aadhaar with I-T returns to curb tax evasion: FM

CBDT enables PAN-application via SPICe

Roll-out of GST will make it even tougher to evade taxes: Jaitley

New accounting standards: Firms’ consolidated results may come under Sebi scanner

Now, Aadhaar a must to file income tax returns and apply for PAN card

Start-ups, some NBFCs demand exemption from thin capital provisions

GST on aerated drinks must be based on sugar content: Coca-Cola India chief

Govt to continue squeeze on cash deals with Rs.2-lakh cap

Income Tax Officer Booked For Demanding 65 Lakh Bribe

GST relief for exporters, some refunds to continue

Income Tax relief on money in single parent’s account may lead to tax evasion: Law panel

Govt mulls 100 percent FDI in insurance broking

GST all set for July 1 rollout but casts shadow on state budgets

Cabinet passes enabling GST laws

E-commerce firms to pay up to 1% TCS under GST

Defaulters beware! Sebi to auction jewellery, gold if you fail to pay up

Easing entry norms: Sebi mulls single window clearance for FPIs

CBDT chief prods taxmen to buck up, meet recovery target

FinMin okays capital infusion for 10 PSU banks

I-T dept makes public list of defaulters owing Rs 448 crore

Not many changes in GST rates say officials

Launch 'Keep in India' campaign for data protection: Ambani

Finally, GST is coming in July: A primer on India's biggest tax reform

Raids against petrol pumps launched by Income-Tax department in pan-India black money crackdown

Tax dept to calculate GST’s impact on inflation

Bankruptcy Code to take precedence over GST claims

Closed down airlines cause Rs 6,769 cr loss to govt banks

Govt may shuffle heads of some PSU banks

Rollback provision in new DTAA makes it less taxing for Korean firms in India

Cos have Rs.857 cr unclaimed dividend

Raising tax could be "retrograde" method: Jaitley

No proposal to replace Income Tax with BTT: Santosh Kumar Gangwar

DIPP in touch with Corporate Affairs Ministry to update start-up rules

Sebi asks clearing corps to upload past orders on website

GST Council approves key Bills

Income Tax dept fails to unearth black money despite information: CAG

Traders watch out! Centre mulls limiting cash deals at Rs 50,000 in bullion

CAG questions income tax deparment’s ability to probe shell companies

Green nod: violating units get 6 more months to apply

Hard cash being disclosed must exist on payment date: I-T dept

Govt to consider more oversight panels for NPAs: Jaitley

ICRA set to come out with first set of ratings under new approach for infra sector


International News:

New GASB Standard Addresses Wide Range of Practice Issues

FASB OKs Update to Defined Benefit Cost Reporting


Union Budget 2017:

Finance Bill 2017 passed in Lok Sabha

Arun Jaitley moves Finance Bill 2017 for passage in Lok Sabha


RBI Draft:

Draft Circular on Master Directions on Issuance and Operation of Pre-paid Payment Instruments (PPIs) in India
[Last date for comments: March 31, 2017 to be sent to This email address is being protected from spambots. You need JavaScript enabled to view it.]


IRDA Exposure Draft:

Exposure Draft of IRDAI (Preparation of Financial Statements of Insurers) Regulations, 2017
[Last date for comments: March 31, 2017]


Legal Updates

Income Tax:

Procedure of TAN application through SPICe (Form No.INC-32) of MCA

Clarification by CBDT on rollback provision in the revised India-Korea DTAA

Procedure of PAN application through Simplified Proforma for Incorporating Company Electronically (SPICe)


Black Money Tax:

Form V - Pradhan Mantri Garib Kalyan Deposit Scheme, 2016


Company Law:

The Companies (Indian Accounting Standards) (Amendment) Rules, 2017



Submission of accounts for debt securities issued under the SEBI (Issue and Listing of Debt Securities by Municipalities) Regulations, 2015

Disclosures relating to regulatory orders and arbitration matters on websites of Clearing Corporations

Review of advertisement guidelines for Mutual Funds

Revised format for letter of Offer under SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011



Risk Management and Inter-bank Dealings: Operational flexibility for Indian subsidiaries of Non-resident Companies

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

Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2016-17)

Reporting and Accounting of Central Government Transactions of March 2017



Revision in Guidelines on Point of Sales Person – Non-Life and Health


Central Excise:

Classification of ‘Saree’ under CETA, 1985 [Circular No.1054]



Regarding classification of leggings [Instruction No.4]

Rebate of State Levies (RoSL) on Export of made-up articles – Implementation by CBEC [Circular No.8]

Rate of exchange of conversion of the foreign currency with effect from 17th March, 2017 [No.22(NT)]

Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver [No.21(NT)]

Seeks to order provisional assessment on imports of Phosphoric Acid originating in or exported from China [No.8(ADD)]