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Daily Newsletter - May 10, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:


SEBI Drafts

Acts & Regulations:

SEBI Master Circular

RBI Master Direction

Useful Forms:

ITR eFiling Utlities

From the ICAI:

ICAI Publication

Legal Updates:






News Update:

Indian News:

Arrest under GST Act should not be based on mere suspicion, says SC

Sebi cuts lot size of private-placed InvITs to Rs 25 lakh

Sebi mandates Investment advisors to share social media details twice a yr

Sebi mulls direct payout of securities to client's account mandatory

NPCI to delay payments market cap by two years, helping PhonePe, Google Pay

Front-running, insider trading: Amfi rulebook to curb misconduct in a month

SEBI increases scrutiny on disclosure of KPIs by startups planning IPOs: Exclusive

SC asks Centre to not use "threat and coercion" in GST recovery operations

HNI investors in offshore ‘blank cheque’ companies receive income tax notices

SC holds bank employees' interest-free loans taxable as fringe benefits

RBI governor discusses ways to scale up UPI ecosystem with stakeholders

Sebi comes out with stringent rules to tackle misconduct, corrupt practices by employees


International News:

New IFRS Accounting Standard Eases Financial Reporting for Subsidiaries

US: Firms Starting to Field Questions on New Crypto Accounting Rules, Panel Says

Exposure Drafts:

IFSCA Draft:

Consultation paper on the IFSCA (Board for Regulation and Supervision of Payment and Settlement Systems) Regulations, 2024
[Last date for Comments: May 30, 2024] 


SEBI Drafts:

Draft - Enhancement of operational efficiency and Risk Reduction - Pay-out of securities directly to client demat account
[Last date for Comments: May 30, 2024] 

Consultation Paper on measures towards Ease Of Doing Business for REITs and InvITs
[Last date for Comments: May 30, 2024] 

Consultation paper on measures towards Ease of Doing Business for Non-Convertible securities
[Last date for Comments: May 30, 2024] 

Acts & Regulations:

SEBI Master Circular:

Master Circular for Alternative Investment Funds (AIFs)
[Published on May 7, 2024]


RBI Master Direction:

Master Direction – RBI (Margining for Non-Centrally Cleared OTC Derivatives) Directions, 2024

Useful Forms:

ITR eFiling Utlities:

New Release:
ITR 3 - Excel Utility & JSON Schema

Updated: Common Offline Utility (ITR 1 to ITR 4)

From the ICAI:

ICAI Publication:

Guidance on Non-Compliances Observed by Quality Review Board During Quality Reviews (Volume 1)

Legal Updates:


Relaxation of additional fees and extension of last date of filing of Form No. LLP BEN-2 and LLP Form No. 4D under the Limited Liability Partnership Act, 2008 [General Circular No.3]



Uploading of judicial orders related to insolvency proceedings by Insolvency Professionals



Enabling provisions for import of inputs that are subjected to mandatory Quality Control Orders (QCOs) by Advance Authorisation holders, EOU and SEZ [Public Notice No.4]

Applicability of Notification No. 71/2023 dated 11.03.2024 [Trade Notice No.3]



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