Daily Newsletter - April 4, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

SEBI Draft

Acts & Regulations:

RBI Master Directions

Tech Zone – Simplifying Technology for CAs::

Tech-Zone Article

Legal Updates:

Income Tax

GST

IBBI

RBI

FEMA

IFSCA

IRDAI

DGFT

Customs

News Update:

Indian News:

Form 130 replaces Form 16: Experts explain what's changing in 'tax year'

ITR changes from April 2026: 5 key updates for Tax Year 2026–27 explained

India may soon notify new audit standards after prolonged regulatory tussle

Carrying gold or extra gadgets into India? What new baggage rules allow

Send or receive money abroad? New tax rules will change your paperwork

CAG flags tax irregularities by banks, NBFCs

Income tax dept opposes benefits to Jane Street Singapore

RBI retains bond structure, upgrades operations for savings bonds

Sebi mulls reintroducing open market share buybacks amid tax changes

Irdai seeks compliance check, action plan on dark patterns from insurers

RBI allows residents to exchange rupee notes at airport forex counters

No more 15G vs 15H confusion! New tax rules from April 1 change everything

Explained: How CBDT's GAAR tweak changes taxation for investors

FY27 bring new real estate tax rules: What stays, what gets easier

Govt grants full customs duty exemption on critical petrochemical products

Tiger Global ruling concerns: CBDT exempts pre-FY18 investments from GAAR

Irdai forms joint expert group to guide insurers on Ind AS transition

Govt imposes import curbs on gold, silver jewellery to check misuse of FTAs

International News:

EY sets aside record £188mn for fines and legal claims

What to know about the new PCAOB auditing standards

Audit report card: More internal audit teams suffered cuts in 2025

Exposure Draft:

SEBI Draft:

Re-introduction of Open Market Buy-Back of Shares or Other Specified Securities through Stock Exchange
[Last date for Comments: April 23, 2026] 

Acts & Regulations:

RBI Master Directions:

Check out the 41 RBI Master Directions updated in April 2026

Tech Zone – Simplifying Technology for CAs:

Tech-Zone Article:

Why Your CA Firm’s Data Is Probably Backed Up… But Not Recoverable

Legal Updates:

Income Tax:

The Income-tax (Amendment) Rules, 2026 - Amendment to Rule 128 of The Income Tax Rules, 2026 [Notification No.55]

The Income-tax (Tenth Amendment) Rules, 2026 - Amendment to Rule 10U of The Income Tax Rules, 1962 [Notification No.54]

GST:

Advisory: Difficulty in filing appeals on the GST portal in cases where adjudication orders reflect "NIL" demand due to prior voluntary payment

IBBI:

Valuation Standards for the purpose of valuation conducted under the Insolvency and Bankruptcy Code, 2016

RBI:

Floating Rate Savings Bonds, 2020 (Taxable) - FRSB 2020 (T) - Operational Guidelines

Memorandum of Instructions governing money changing activities – Location of Forex Counters in International Airports in India

Risk Management and Inter-Bank Dealings (Revised)

FEMA:

Overseas Investment – Submission of References to the Reserve Bank

Reporting under Foreign Exchange Management Act, 1999 – Returns pertaining to Foreign Exchange Management (Guarantees) Regulations, 2026

IFSCA:

Specification of Certification Course for KMPs and other employees of Capital Market Intermediaries under the IFSCA (Capital Market Intermediaries) Regulations, 2025

Specification of Certification Course for KMPs/Employees under IFSCA (Fund Management) Regulations, 2025

Amendment to Circular on Appointment and Change of KMP by an FME

IRDAI:

Clarifications on implementation of Indian Accounting Standards (Ind AS)

Constitution of Joint Expert Group (JEG) on Ind AS-01.04.2026 [Order]

DGFT:

Amendment in Import Policy and Policy conditions of items covered under Chapter 71 of ITC (HS) 2022, Schedule-I (Import Policy) [Notification No.3]

Amendment in Import Policy of Items covered under CTH 7113 under Chapter 71 of ITC (HS) 2022, Schedule-I (Import Policy) [Notification No.2]

Supply of essential commodities to the Republic of Maldives during FY 2026-27 [Notification No.1]

Special drive for expeditious issuance of EODCs under Advance Authorisation (AA) and EPCG schemes - extension up to May 31, 2026 [Trade Notice No.34]

Customs:

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.35(NT)]

Assessment of Bills of Entry filed for goods manufactured by SEZ units and cleared to Domestic Tariff Area (DTA) under concessional rate [Circular No.18]

Seeks to exempt AIDC on certain commodities [Notification No.13]

Seeks to exempt BCD on certain commodities [Notification No.12]