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Daily Newsletter - July 7, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

SEBI Draft

FRC Draft

CA's Referencer:

Income Tax

International Content:

FASB Reference Material

Legal Updates:

MCA

IBBI

 


  

News Update:

Indian News:

Trinidad & Tobago 8th country to have UPI: How to use service abroad

Sebi chief Tuhin Kanta Pandey rules out weekly expiry ban, signals tighter derivatives watch

Will ITR deadline extend again? Tax experts see further delays after ‘system failures’

CA allegedly ran Rs 750 crore fake loan app scam using shell firms, Chinese links

RBI acts tough against cyber frauds, directs all banks to use DoT’s FRI technology to protect bank customers

Sebi warning: After action against Jane Street, chairman says 'market manipulation won’t be tolerated'

Sebi action on Jane Street highlights 3 aspects of market: Uday Kotak

Jane Street disputes Sebi’s findings after Rs 4,840 crore freeze, vows to engage with regulator

How Sebi’s crackdown on Jane Street unfolded: A 15-month trail of scrutiny and ignored warnings

Kotak Mahindra Bank branch manager siphoned off Rs 31 crore of public money to gamble

Income Tax Filing: IT Dept launches ‘TAXASSIST’ to help with queries and notices | Here is how it works

  

International News:

How technology could rewire corporate reporting

Is your audit quality at the level it needs to be?


Exposure Drafts:

SEBI Draft:

Consultation Paper On Review Of Regulatory Framework On Permissible Business Activities For Asset Management Companies Under Regulation 24 Of The Sebi Mutual Funds Regulations 1996
[Last date for Comments: July 28, 2025]
 

  

FRC Draft:

Exposure draft of UK Sustainability Reporting Standards:
UK SRS S1 and UK SRS S2

[Last date for Comments: September 17, 2025]
 


CA's Referencer:

Income Tax:

Periods of Limitation - For AY 2026-27

Penalties - AY 2026-27

Treatment of Income from Different Sources - AY 2026-27


International Content:

FASB Reference Material:

Accounting Standards Update
Business Combinations (Topic 805) and Consolidation (Topic 810)
Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity

[May 2025]


Legal Updates:

MCA:

Lot-3 forms FAQs

  

IBBI:

The IBBI (Insolvency Resolution Process for Corporate Persons) (Fifth Amendment) Regulations, 2025


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