Important Links
Indian News
- Under I-T Lens: 1.6 Lakh Tax Returns Under Scrutiny; M&A Discrepancies Among Red Flags
- Online dispute resolution portal to expedite resolution of payment delay cases concerning MSEs: Prez
- ICAI plans AI training for 30 lakh Chartered Accountants by 2047 to support MSME growth
- Oman DTAA: Withholding tax rates lowered
- India imposes anti-dumping duties on plastic processing machines imported from China, Taiwan
- Sebi tightens rules on portfolio breaches; must rebalance all passive mutual fund breaches within 30 days
- India, U.S. trade talks face roadblocks ahead of tariff deadline, Indian sources say
- Trump says 'very big' trade deal coming up with India
- CBDT orders processing of late returns, refunds filed upto March 2024
- Ask justified, specific questions from taxpayers during scrutiny: CBDT to I-T officials
- Irdai flags issues at 8 insurers over health master circular norms
- “Networking guidelines will help CA firms gain scale”: ICAI President Charanjot Singh Nanda
- 56th GST Council Meeting: Slabs, cess and simplification – Here’s what to expect
- NSE offers $160 million to settle with SEBI, move ahead with IPO, sources say
- Fraud case against Bank of Baroda's ex-branch head in UP; CBI raids places in Meerut, Bharuch
- CBDT unlikely to offer tax relief for foreign data centres soon: Report
- Sebi slaps Rs 25 lakh penalty on BSE for flouting regulatory norms
- NFRA gets a shot in the arm with Telangana HC order
- RBI extends call money market timings by 2 hours from August 1
- Sebi tightens oversight on trading members' compliance post-inspection
International News
- PCAOB permanently bars repeat offender
- IASB Issues Revised Practice Statement on Management Commentary
- PCAOB Gets New Life—For Now — Thanks to the Senate’s Nonpartisan Referee
- Banks are financing their own multitrillion-dollar nightmare
- €10,000 fine and ‘severe reprimand’ for auditor of collapsed med-tech company Hibergene
- Audit transparency unlocked: The value of critical audit matters (CAMs) to investors
- Charting the Global Economy: Key central banks hold on rates
- KPMG fined £1.25m for Carr’s Group audit breaches
- PCAOB sanctions firm, partner on five audits
- China talks up digital yuan in push for multi-polar currency system
- Audit Committee Chairs Expect Clear, Open Communications From Auditors – PCAOB Report
- ICAEW shares lessons learned to boost audit quality
- UK: One in ten audits flagged for 'major improvements'
- Deloitte to cut bonuses and slow promotions due to missed targets
- PCAOB to Form Smaller Firm Resource Group to Advise Staff
- Is a fraud pandemic around the corner?
- Firms should start auditing AI algorithms
- PCAOB offers advice on auditing accounting estimates amid SEC concerns
- Russia cuts interest rate by 100 bps from 20-year high; warns tight policy will stay
- ECB trims rates: Cuts benchmark rates by 25 bps amid Trump tariff risks; growth path now hinges on trade talks
- ISACA introduces new Advanced in AI Audit Certification
- FASB releases standard on share-based consideration
Taxation Laws Update
- Income Tax Notification No.69: DTAA with The Sultanate of Oman
- Income Tax Circular No.7: Relaxation of time limit for processing of valid returns of income filed electronically pursuant to order u/s 119(2)(b) of the Income-tax Act,1961 passed by Competent Authority
- GST Circular No.250: Reviewing authority, Revisional Authority and Appellate Authority in respect of orders passed by CAA for show cause notices issued by DGGI
- Customs Update - June 24, 2025
- Income Tax Notification No.67: Exemption from withholding tax for payments made to units of IFSC
- Customs Instructions No.s 18 & 19
- Customs Update - June 20, 2025
- GST Advisory: Handling of Inadvertently Rejected records on IMS
- GST: Advisory to file pending returns before expiry of three years
- Customs Instruction No.16: Ensuring adherence of Indian Standard of respective Input material of Steel and Steel Products
- GST Advisory: Introduction of Enhanced Inter-operable Services Between E-Way Bill Portals
- Income Tax Guidelines: Guidelines for compulsory selection of returns for Complete Scrutiny during the FY 2025-26
- Customs Notification No.43(NT): Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
- Customs Notification No.42(NT): Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
- Customs Update - June 13, 2025
- GST Advisory: Filing of SPL-01/ SPL-02 where payment made through GSTR 3B and other cases
- GST Advisory: Filing of Amnesty applications under Section 128A of the CGST Act
- GST Circular No.249: Generation and quoting of DIN on any communication issued by the officers of CBIC to tax payers and other concerned persons
- GST Advisory: System Validation for Filing of Refund Applications on GST Portal for QRMP Taxpayers
- Income Tax Notifications No. 50 & 51: Amendments to Schedule 80IE
Corporate Laws Update
- SEBI Circular: Industry Standards on “Minimum information to be provided to the Audit Committee and Shareholders for approval of Related Party Transactions”
- SEBI Circular: Timelines for rebalancing of portfolios of mutual fund schemes in cases of all passive breaches
- RBI Circular: The Depositor Education and Awareness (DEA) Fund Scheme, 2014 – Revised Operational Guidelines
- DGFT Update - June 25, 2025
- IBBI: Provisional List of IPs
- SEBI: Master Circular for Registrars to an Issue and Share Transfer Agents
- IFSCA Circular: Amendment to the Directions to IBUs for operations of the Foreign Currency Accounts of Indian resident individuals opened under LRS
- RBI Circular: Review of Priority Sector Lending norms - Small Finance Banks
- DGFT Notification No.20: Amendment in Para 2.03(A) (i) (g) of the Foreign Trade Policy, 2023
- SEBI: Master Circular for Stock Brokers
- IBBI Regulations & Guidelines - Recently updated
- MCA: Notification regarding designation of Special Courts
- RBI Directions: Reserve Bank of India (Project Finance) Directions, 2025
- DGFT Update - June 18, 2025
- RBI Circular: Review of instructions issued vide Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission
- RBI Master Direction: RBI (Electronic Trading Platforms) Directions, 2025
- SEBI Regulations: SEBI (Alternative Investment Funds) Regulations, 2012
- MCA Circular No.2: Separate Filing of e-form CSR-2 post the period of transition from MCA21 V2 to V3
- MCA Circular No.1 Relaxation of additional fees for filing of 13 e-forms during the period of transition from MCA21 V2 to V3
- IRDAI Circular: Advisory to All Insurers, Reinsurers, Life Insurance Council and General Insurance Council
- RBI Master Circular/Directions - recently updated
- MCA 21 V3 Presentation on Company module – Lot-3 forms 14th July 2025 Go-Live
CA's Referencer
- TDS Rates - For AY 2026-27
- Income Tax Rates - AY 2026-27 and 2025-26
- CA's Referencer: CBDT Central Action Plan 2025-2026
- CA's Referencer: NFRA Auditor-Audit Committee Interaction Series 3 - Related Parties
- CA's Referencer: NFRA Auditor-Audit Committee Interaction Series 2 - Audit Strategy and Planning
- CA's Referencer: CBDT Guide for Departmental Officers: Assessment of Charitable / Religious Trusts and Institutions
- CA's Referencer: NFRA Auditor-Audit Committee Interaction Series 2 – Audit of Accounting Estimates and Judgments - Income Taxes - Ind AS 12
- CA's Referencer - Income Tax: List of banks for tax payments available at e-Pay Tax service at e-Filing Portal
- CA's Referencer: RBI Handbook on Regulations at a Glance
- CA's Referencer - SEBI: Formats of Due Diligence Certificate to be Given by the Debenture Trustee
- CA's Referencer: NFRA Auditor-Audit Committee Interaction Series 1 – Accounting Estimates - Expected Credit Losses
- Withholding Tax Rates
- Treatment of Income from Different Sources - For AY 2025-26
- TDS Rates - For AY 2025-26
- TDS on transfer of certain immovable property - AY 2025-26
- Tax rates as per IT Act vis a vis Tax Treaties
- Income Tax Rates - AY 2025-26 and 2024-25
- Income Tax Penalities & Prosecution - AY 2025-26
- Income Tax Benefits Available to Small Businessmen - For AY 2025-26
- Income Tax Benefits Available to Salaried Persons - For AY 2025-2026
- Income Tax Benefits Available to Non- Residents - For AY 2025-26
- Income Tax Benefits Available Only To Individuals & HUFs - For AY 2025-26
- Income Tax Benefits Available Exclusively to Resident Persons and Indian Companies - For AY 2025-26
International Content
International Financial Reporting Standards (IFRS)
IFRS Sustainability Disclosure Standards
Reference Updates
- CA's Referencer - ICAI: Excel Utility for New formats for financials of Non Corporate entities
- IFRS Sustainability Reference Material: Roadmap development tool for adopting ISSB Standards
- ICAI Announcement: Additional information required during UDIN generation
- ICAI Publication: Handbook on Exempted Supplies under GST
- ICAI Publications: Background Material on GST - Volume 1 & 2
- ICAI: Reference Materials for "New Formats for Financial Statements":
- FRC Reference Material: Guidance on the Going Concern Basis of Accounting and Related Reporting
- ICAI Publication - Ind AS: Study on Compliance of Financial Reporting Requirements (Ind AS Framework) - Volume-III
Acts / Regulations & FAQs
IBBI Acts / Regulations / FAQs
IFSCA Acts / Regulations / FAQs
Exposure Drafts
- MCA Draft: Companies (Meetings of Board and its Powers) Amendment Rules
- SEBI Draft: Strengthening Governance of Market Infrastructure Institutions (MIIs)
- SEBI Draft: Guidelines for responsible usage of AI/ML In Indian Securities Markets
- SEBI Draft: Modification of Unique Client Code by Market Makers without levy of penalty
- RBI Draft Master Direction: RBI (Rupee Interest Rate Derivatives) Directions, 2025 under Section 45 W of the RBI Act, 1934
- SEBI Draft: Extending certain flexibilities under accreditation framework
- ICAI Exposure Draft: Proposed Guidelines for Overseas Network
- SEBI Draft: Periodic disclosure requirements for Securitised Debt Instruments
