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Daily Newsletter - June 2, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

RBI Exposure Draft

IRDAI Exposure Draft

FASB Exposure Draft

IFRS Exposure Draft

Legal Updates:

Income Tax





News Update:

Indian News:

RBI releases draft on cyber resilience, digital payment security controls

CBIC reorganizes National Assessment Centre

Angel tax-hit venture funds reach out to CBDT for relief

Digital transactions in India highest in world but why is cash still king?

New TER structure to pose challenge for smaller AMCs

Uttar Pradesh govt launches 15-day mega registration drive for MSMEs

Irdai issues Bima Vahaks draft to establish channel at Gram Panchayat level

SEBI cancels Certificate of Registration of Karvy Stock Broking

Sebi to auction properties of 7 business groups on June 28 to recover investors' money

Prioritise depositors over shareholders: RBI deputy governor M K Jain

I-T dept to keep open SFT returns filing portal for FY'23 for 'couple days'

NFRA slaps Rs 1.10 cr fine, imposes ban on two auditors, one audit firm

Bringing electricity under GST is likely to take 5-10 years: Sushil Kumar Modi


International News:

FASB tax disclosure plan draws fire

Kill the Audit Industry, Says Ex-Auditor

IASB consults on proposed amendments to IFRS for SMEs Accounting Standard related to international tax reform

FASAB committee proposes changes to guidance on leases

Exposure Drafts:

RBI Exposure Draft:

Draft Master Directions on Cyber Resilience and Digital Payment Security Controls for Payment System Operators
[Last date for Comments: June 30, 2023] 


IRDAI Exposure Draft:

Bima Vahak Guidelines
[Last date for comments: June 22, 2023]


FASB Exposure Draft:

Leases Implementation Guidance - Amendments to Technical Release 20
[Last date for Comments: June 30, 2023] 


IFRS Exposure Draft:

International Tax Reform—Pillar Two Model Rules - Proposed amendments to the IFRS for SMEs Standard
[Last date for Comments: July 17, 2023] 

Legal Updates:

Income Tax:

The ​Income-tax (8th Amendment) Rules, 2023 - Amendment to Rule 11UAC [No.35]



Transactions in corporate bonds through Request for Quote platform by Stock Brokers (SBs)

Master Circular on Electronic Gold Receipts (EGR)



Introduction of Online facility of requesting appointment for virtual meeting/personal hearing to the exporters from offices of DGFT w.e.f. 01.06.2023 [Trade Notice No.6]



Faceless Assessment – Re-organisation of National Assessment Centres and Faceless Assessment Groups [Circular No.13]

Exchange rate Notification dated June 1, 2023 [No.39(NT)]



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