Daily Newsletter - July 24, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

IFSCA Draft

SEBI Drafts

Legal Updates:

SEBI

IRDAI

DGFT

Customs

News Update:

Indian News:

CBDT cuts appeal backlog by 34K; FM urges faster disposal of pending cases

Tax laws are made for the living; I-T notice to dead person invalid: HC

AI cannot replace auditor judgement, flags automation bias in audits: NFRA

India to roll out common customer ID for banks, insurers; mutual funds to follow, sources say

Sold multi-asset MFs? Check the fund’s underlying asset mix as it determines tax treatment

Axis MF front-running case: Sebi bars Viresh Joshi for 7 yrs in final order

Foreign firms rent 105 mn sq ft space since 2022 to establish GCCs in India

ED attaches fresh Rs 1,906 cr worth assets of Gameskraft

Sebi eases security transmission rules, fast-track for low-value claims

HC stays CBDT circular denying tax relief to judges under new tax regime

From an 87% collapse to $17 billion in 40 days: RBI engineers a spectacular FCNR(B) turnaround

Mauritius tax protocol to give Indian taxman more powers to probe offshore entities

Three US law firms probe HDFC Bank over alleged Maharashtra deposit payments

Banks to tap 25 OEMs in battle against AI-led cybersecurity threats

Govt allows FDI in inventory-based e-commerce only for exports

Sebi proposes reforms to online dispute resolution framework for markets

Son becomes NRI, gifts shares worth Rs 30 lakh to father; should this be disclosed in ITR? What taxpayers must do to avoid tax notices

International News:

AICPA updates audit standards related to external confirmations

[Australia] KPMG prepares to cut hundreds of staff amid leaks scandal

Exposure Drafts:

IFSCA Draft:

Consultation Paper on the Draft ‘IFSC Depositor Education and Awareness Fund (IDEA Fund) Scheme, 2026
[Last date for Comments: August 12, 2026] 

SEBI Drafts:

Consultation Paper on Streamlining the Online Dispute Resolution Framework in Indian Securities Market
[Last date for Comments: August 13, 2026] 

Consultation Paper on Comprehensive Review of SEBI (Portfolio Managers) Regulations, 2020
[Last date for Comments: August 13, 2026] 

Legal Updates:

SEBI:

Ease of Doing Investment and Ease of Doing Business – Simplification and standardisation of the framework for transmission of securities

IRDAI:

Submission of Self-Contained Note and other related documents to the Office of the Insurance Ombudsmen

DGFT:

Amendment in Import Policy of Suspension grade PVC resin (S-PVC) covered under ITC (HS) code 39041020 of Chapter 39 of ITC (HS), 2022, Schedule-I (Import Policy) [Notification No.25]

Customs:

Udangudi Notified as Customs Unloading Point for Imported Coal [Notification No.66(NT)]