Daily Newsletter - January 22, 2025

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

SEBI Drafts

From the ICAI:

ICAI Announcement

Legal Updates:

Income Tax

RBI

DGFT

 

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News Update:

Indian News:

CBDT clarifies past investment from Mauritius, Singapore, Cyprus will not be reopened for scrutiny

Centre mulls lower duties, more imports to counter Trump's tariff threats

Insurers want GST to continue on term plans

Home Ministry warns NGOs flouting FCRA norms

Supreme Court to review IT department's appeal on Vodafone Idea tax dispute

Govt issues draft rules to make e-commerce more accountable; seeks comments by Feb 15

Alimony and Income Tax: Is ex-wife liable to pay income tax on settlement amount received from husband in a divorce case?

Trump threatens 100% tariffs against BRICS countries if they try replacing US dollar

Faceless tax assessments: Benefits, challenges, solutions for improvement

Sebi to start pre-listing trading in IPO to curb grey market activity: Buch

10 most influential global Indians: Satya Nadella tops list, Pichai 2nd

Wrong EPF member ID linked to your UAN? Here is how you can delink it

Banks to ask RBI to delay liquidity rule set to take effect from April 1

RBI forms new committee for bank license, chaired by former DG Jain

Wrongful tax claims: File revised, updated ITR before I-T dept's scrutiny

SC upholds Rs 1,600 crore tax refund for Vodafone Idea, dismisses SLP

Sebi considers expanding SSE to attract more non-profit organisations

Sebi proposes changes to net asset value calculation for overnight schemes

New RBI rules mandate stricter oversight on ARC-borrower settlements

Has RBI prohibited the use of black ink for writing cheques? Govt clarifies

 

International News:

UK watchdog launches investigation into KPMG's audit of Entain

PCAOB finds deficiencies two of three BDO Canada audits, including one non-principal engagement

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Exposure Drafts:

SEBI Drafts:

Consultation Paper on Review of Framework for Social Stock Exchange
[Last date for Comments: February 10, 2025] 

Draft Circular for change in cut-off timings to determine applicable NAV with respect to repurchase/ redemption of units in overnight schemes of Mutual Funds
[Last date for Comments: February 10, 2025] 

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From the ICAI:

ICAI Announcement:

Deferment of Phase III and IV of Peer Review Mandate

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Legal Updates:

Income Tax:

The Income-tax (First Amendment) Rules, 2025 - Computation of Profits and Gains of Business of Operation of Cruise Ships by NRIs [Notification No.9]

Order under Direct tax Vivad se Vishwas Scheme 2024 for eligibilty cases pending as on 22.07.2024 [Notification No.8]

 

RBI:

Guidelines on Settlement of Dues of borrowers by ARCs

 

DGFT:

Introduction of new Scheme as 'Diamond Imprest Authorisation' under Chapter 4 of Foreign Trade Policy 2023 [Notification No.53]

Amendment in Export Policy condition of Agarwood (Aquilaria Malaccensis) Chips and Powder and Agar Oil obtained from artificially propagated sources [Notification No.52]

Extension in “Free” Import Policy of Tur/Pigeon Peas (Cajanus Cajan) [ITC(HS) 0713 60 00] under ITC (HS) 2022, Schedule – I (Import Policy) till 31.03.2026 [Notification No.51]

Introduction of new paras in Chapter 4 of Handbook of Procedures, 2023 [Public Notice No.42]

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