Daily Newsletter - July 22, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

RBI Draft

Useful Forms:

ITR Forms & eFiling Utilities for AY 2026-27

Tech Zone – Simplifying Technology for CAs:

Tech-Zone Article

Legal Updates:

Income Tax

SEBI

IFSCA

DGFT

News Update:

Indian News:

NRI gets Rs 46 lakh foreign salary in NRE account, faces tax demand of over Rs 12 lakh; ITAT says this

HC quashes GST notice after AI prompts expose lack of independent 'application of mind'

GST refund fraud: Three Delhi tax officials among five held in ₹5.5 cr scam

Sebi cancels registration of 11 research analysts for non-payment of renewal fee

Income tax department running short of 26,997 officers and support staff

CBIC weighs centralised GST registration under one PAN

India plans to ease export procedures for shipments worth up to ₹10,000

Sebi eases mutual fund claim rules after death: Key changes explained

Parl panel flags repeat violations, seeks MSME protection in CCI rules

ITR filing 2026: CBDT takes these steps to prevent portal glitches before July 31 deadline

International News:

[Phillipines] SEC flags audit gaps, raises standards for listed firms

Exposure Draft:

RBI Draft:

Draft Rationalisation of Foreign Exchange Management (Non-Debt Instruments) Rules, 2019
[Last date for Comments: August 31, 2026] 

Useful Forms:

ITR Forms & eFiling Utilities for AY 2026-27:

Updated on July 21, 2026:
ITR 7 - Excel Utility

New addition:
Form ITR-B (PDF) - For search and seizure cases (Chapter XIV-B)

Updated as on July 20, 2026:
ITR 5 - Excel Utility

Tech Zone – Simplifying Technology for CAs:

Tech-Zone Article:

The Hidden Cost of Every Extra Click: Save Hours During ITR Season with Built-In Windows Features

Legal Updates:

Income Tax:

The Income-tax (Second Amendment) Rules, 2026 - Amendment to Rule 157(5)(c) of the Income-tax Rules, 2026 - Definition of 'Specified Fund' [Notification No.94]

SEBI:

Certification Requirements for Distribution of Specialized Investment Funds (SIFs)

Operationalisation of freezing of holdings of promoter and promoter group including their associates (promoter holdings) at the ISIN level under Regulation 24(i)(ea) of the SEBI (Buy-back of Securities) Regulations, 2018 dated July 21, 2026

IFSCA:

Framework on capital relief and prudential requirements for factoring transactions

DGFT:

Syncing of ITC (HS), 2022- Schedule-1 (Import Policy) with Finance Act, 2026, dated 30.03.2026 [Notification No.24]