Weekly Newsletter - March 6, 2024
Latest additions to CAalley:
News Update:
Exposure Drafts:
Useful Forms:
Acts & Regulations:
CA's Referencer:
Legal Updates:
News Update:
MCA notifies Competition Act provision to levy penalty on global turnover
Banks must give customers choice to select credit card network: RBI
Processed pulses to attract 18% GST, says AAR in case involving agri broker
NFRA changes tack, ramps up focus on supervision to boost audit ecosystem: Chairman AB Pandey
30 banks join RBI UDGAM to search for recipients of unclaimed deposits
RBI bars JM Financial Products from financing against shares, debentures
Banks to bring in extra KYC verification layers
How a fake number landed UAE fund in tax soup
RBI clears 'interoperable' net banking payments
FM Sitharaman calls for clarity on GST classification-related issues
I-T dept asks taxpayers to file updated ITRs for AY 2021-22 by March 31
Finance ministry looking to modify income tax rule on payments to MSMEs within 45 days
RBI prohibits IIFL Finance from sanctioning, disbursing gold loans
Annual inspection of listed firms will protect interest of investors: NFRA chief
NFRA planning fresh round of inspections of Big Four from March
Insurance ombudsman says it has no data on awards granted
Laid off CXOs are much in demand as companies look to hire execs with proven track record
Auditors should engage with stakeholders to gather input, says CAG Murmu
SEBI makes right moves for ease of mutual fund business
Bihar traders offered 'one-time settlement' for pre-GST era tax liabilities
Kolkata trader held for ‘₹500cr GST fraud’ in J’khand, 4 states
Tax official arrested for taking bribe to resolve firm's GST suspension
RBI expands scope of BBPS directions to non-bank payment aggregators
GST on corporate guarantees: Experts await more clarity
CAG, ICAI to launch online courses to strengthen local bodies’ accounting
Fintech compliances have to be simplified, made user friendly: Sitharaman
RBI proposes norms for disclosure of climate-related financial risks for lenders
Global audit framework for local bodies in the works: CAG
ICEAW: Audit fees rise by 75% since 2017
PCAOB Sanctions Gries & Associates for Audit Failures, Imposes $65,000 Fine on Firm and Founder
93% of firms use a mix of ESG standards, thwarting uniformity efforts: IFAC
KPMG fined $2 million for 'failures' in M&C Saatchi audit
US: Accounting firm sued over Ponzi scheme
Why AI can be accountants' next big pivot
IFRS Foundation publishes research on applying materiality judgements
Green audits are coming for a company near you
New FASB Segment Accounting Rules Carry Big Implications for Using Non-GAAP Measures
Exposure Drafts:
Consultation paper on the proposed IFSCA (Payment Services) (Amendment) Regulations, 2024
[Last date for Comments: March 21, 2024]
Proposals Regarding False or Misleading Statements Concerning PCAOB Registration and Oversight and Constructive Requests to Withdraw from Registration
[Last date for Comments: April 12, 2024]
Useful Forms:
Acts & Regulations:
Master Direction – Reserve Bank of India (Bharat Bill Payment System) Directions, 2024
CA's Referencer:
Excel Utility for Bank Branch Audit
[2024 edition]
Legal Updates:
Promoting Voluntary Compliance through e-Verification Scheme-2021 [Press Release]
The Income-tax (Third Amendment) Rules, 2024 - ITR-7 notified [Notification No.24]
Section 31 notification pertaining to modifications under SEZ Act and rules
Fee structure for the entities undertaking or intending to undertake permissible activities in IFSC
Enforcement of provisions of sections 20, 35 and 40 of the Competition (Amendment) Act, 2023
Arrangements with Card Networks for issue of Credit Cards
Money Transfer Service Scheme - Submission of Statement on CIMS
Review of Guidelines - Withdrawal of Circulars
Export of Onions (under HS Code 07031019) to Bangladesh [Notification No.63]
Amendment in Para 2.39 of the Foreign Trade Policy, 2023 [Notification No.62]
