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Daily Newsletter - April 23, 2025

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

ICAI Exposure Draft

Acts & Regulations:

RBI Master Directions

Legal Updates:

Income Tax

RBI

SEBI

IFSCA

DGFT

Customs

 


  

News Update:

Indian News:

Tax dept tightens claims scrutiny: Key rules for rent paid to parents

ICAI and CAG Join Hands to Strengthen Capacity of PSUs Audit Officers

Victim of insurance mis-selling? You are entitled to get a full refund, rules NCDRC

How to spot a genuine Sebi-registered financial advisor and avoid scams

BluSmart appoints Grant Thornton for a forensic audit, sources say

Pay new income tax TCS of 1% on these luxury goods above Rs 10 lakh; CBDT issues notification

Bombay HC gives GST relief to homeowners: No GST on re-development by homeowners through builder under these terms

Why Asia may embrace Donald Trump's trade plan-if it cuts out China

Sebi announces changes in NAV cut-off time for Mutual Fund Overnight Schemes

For safer digital banking, banks to move to domain “Bank.in” by October 31, 2025, says RBI

Is 18% GST levied on maintenance amount when housing society is managed by builder?

IndusInd ropes in EY to conduct another audit, to probe Rs 600cr discrepancy in microfinance portfolio

RBI's new liquidity norm to free up $35 billion, likely boosting credit growth

Govt defines 'proof of origin' for trade purposes to promote ease of doing business

US slaps up to 3,521% duties on Southeast Asian solar imports

Gensol Engineering under ED scanner over alleged links to Mahadev betting app scandal

Minors aged 10+ can open, operate bank accounts independently

SEBI extends PAN freeze to immediate kin of insider trading norm violators

Sebi mulls extending relaxation to listed NCDs from sending physical copies of fin statement

SEBI proposes direct arbitration for high-value and repetitive complaints

EPFO makes pension withdrawals easier: Here's how you can file claims

Govt extends tenure of RBI Deputy Governor T Rabi Sankar by one year

  

International News:

UK’s young accountants lead surge in self-employed practices


Exposure Draft:

ICAI Exposure Draft:

Exposure Draft of Contracts Referencing Nature-dependent Electricity: Amendments to Ind AS 109 and Ind AS 107
[Last date for Comments: May 18, 2025]
  


Acts & Regulations:

RBI Master Directions:

Master Directions - Compounding of Contraventions under FEMA, 1999


Legal Updates:

Income Tax:

Notification u/s 295 read with section 206C of the Income Tax Act, 1961 - TCS on purchase of luxury goods [Notification No.36]

The Income-tax (Eleventh Amendment) Rules, 2025 - Amendment to Form No.27EQ of the Income Tax Rules, 1962 [Notification No.35]

  

RBI:

Circular - Migration to '.bank.in' domain

Amendments to Directions - Compounding of Contraventions under FEMA, 1999

  

SEBI:

Change in cut-off timings to determine applicable NAV with respect to repurchase/ redemption of units in overnight schemes of Mutual Funds

  

IFSCA:

Clarification on conducting Customer Due Diligence (CDD) and Maintenance of Supply Chain Integrity by the Vault Managers

  

DGFT:

Amendment in Import Policy Condition of Synthetic Knitted Fabrics Covered under Chapter 60 of the ITC (HS), 2022 [Notification No.5]

Inputs on Amendments for Export of SCOMET Items for ‘Testing and Evaluation’ purposes [Trade Notice No.3]

  

Customs:

Seeks to impose safeguard duty on “Non-Alloy and Alloy Steel Flat Products” [Notification No.1(SG)]


  

  

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