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Daily Newsletter - September 13, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

IFRS Exposure Draft

Acts & Regulations:

RBI Master Direction

Legal Updates:

Income Tax





News Update:

Indian News:

Govt exempts investment trusts, ETFs from capital gains tax in GIFT City

Charitable trusts having a tough time under new regulations, seek more time

Lenders should release property docs within 30 days of loan repayments: RBI

RBI issues revised norms for classification, valuation of investment by banks

India imposes anti-dumping duty on some Chinese steel for 5 years

Auditors independence: No need for clarification on management services, says NFRA Chair Ajay Bhushan Pandey

If joint audit is to be brought in, there should be complete clarity on auditors’ responsibilities: NFRA Chair


International News:

Audit profession must ‘face up’ to common issues causing accounts delays, experts say

'No appetite for action’: ASIC response to audit breaches under fire

Australia: BDO audit partner banned until 2024 after botched financial report

PCAOB fines Canadian audit firm and its sole partner

Exposure Draft:

IFRS Exposure Draft:

Annual Improvements — Volume 11
[Last date for Comments: December 11, 2023] 

Acts & Regulations:

RBI Master Direction:

Master Direction - Classification, Valuation and Operation of Investment Portfolio of Commercial Banks (Directions), 2023

Legal Updates:

Income Tax:

Notification under section 47 of Income tax Act 1961 [Notification No.71]



Advisory: Time limit for Reporting Invoices on the IRP Portal



Responsible Lending Conduct – Release of Movable / Immovable Property Documents on Repayment/ Settlement of Personal Loans



Corrigendum to Notification No.33/2022-Customs (ADD) dated 30.12.2022

Seeks to impose ADD on imports of " Flat base steel wheels" originating in and exported from China PR for a period of 5 years [Notification No.9(ADD)]



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