Daily Newsletter - February 19, 2025

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Latest additions to CAalley:

News Update:

Indian News

Budget 2025 News

International News

Exposure Draft:

SEBI Draft

From the ICAI:

Guidance Note

Legal Updates:

Income Tax

GST

RBI

SEBI

IRDAI

IFSCA

 

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News Update:

Indian News:

Tax audit is the forte of chartered accountants: ICAI President Nanda

Ex-SBI chairman Khara to head panel to implement amendment to insurance law

NFRA flags deficiencies in audit works by 2 PwC firms

IRDAI launches Bima-ASBA via UPI to make insurance premium payment easier when you buy a policy

RBI launches 'RBIDATA' app to offer access to economic, financial data

Sebi amends mutual fund rules, sets time limit for NFO fund deployment

Tax crackdown reveals ₹22,000 crore in hidden wealth

Sebi cancels registration of 19 FVCI cos for failing to meet eligibility

Govt asks private insurers to increase free look period to one year

Sebi bans two portfolio managers for not maintaining minimum net worth

Experts intrigued by inclusion of electoral bonds in new Income-Tax Bill

Co-operative banks are well regulated now: DEA Secretary Ajay Seth

Sebi asks RAs, IAs to disclose most important terms, conditions of services to clients

SC underlines need for separation of investigation and adjudication in NFRA proceedings

SC seeks response from MCA on NFRA appeal over quashed show-cause notices to auditors

ICSI, ICMAI demand expansion of accountant's definition in I-T Bill

  

Budget 2025 News:

Key Highlights of Finance Bill, 2025 - As published by Income Tax Dept

  

International News:

In a Win for Audit Firms, PCAOB Withdraws Transparency Rules

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Exposure Draft:

SEBI Draft:

Consultation paper on technology based measures to secure trading environment and to prevent unauthorised transactions in trading/demat account of investors
[Last date for Comments: March 11, 2025] 

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From the ICAI:

Guidance Note:

Guidance Note on Audit of Banks (2025 Edition)

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Legal Updates:

Income Tax:

Extension of due date for filing of Form No. 56F under the Income-tax Act, 1961 [Circular No.2]

 

GST:

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Jharkhand and Andaman and Nicobar Islands

 

RBI:

RBI (Prudential Regulations on Basel III Capital Framework, Exposure Norms, Significant Investments, Classification, Valuation and Operation of Investment Portfolio Norms and Resource Raising Norms for All India Financial Institutions) Directions, 2023 - Amendment

Government securities transactions between a Primary Member (PM) of NDS-OM and its own Gilt Account Holder (GAH) or between two GAHs of the same PM

 

SEBI:

Most Important Terms and Conditions (MITC) for Research Analysts

Most Important Terms and Conditions (MITC) for Investment Advisers

Notification under SEBI (Certification of Associated Persons in the Securities Markets) Regulations, 2007 - Research Analyst (RA) Certification Examination

SEBI (Mutual Funds) (Amendment) Regulations, 2025

 

IRDAI:

One-time Mandate for blocking the amount towards premium through Unified Payments Interface (UPI mandate) for issuance of life and health insurance policies - Bima-ASBA

 

IFSCA:

Amendment to the Circular on permissible transactions through the SNRR accounts of IFSC units

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