Daily Newsletter - June 27, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

MCA Draft

Acts & Regulations:

SEBI Master Circulars

CA's Referencer:

Income Tax

Legal Updates:

Income Tax

SEBI

DGFT

Customs

News Update:

Indian News:

₹95k cr surplus likely in GST compensation fund

New India Assurance gets GST demand notice of ₹2,298 crore

Under I-T Lens: 1.6 Lakh Tax Returns Under Scrutiny; M&A Discrepancies Among Red Flags

Online dispute resolution portal to expedite resolution of payment delay cases concerning MSEs: Prez

ICAI plans AI training for 30 lakh Chartered Accountants by 2047 to support MSME growth

Oman DTAA: Withholding tax rates lowered

India imposes anti-dumping duties on plastic processing machines imported from China, Taiwan

Sebi tightens rules on portfolio breaches; must rebalance all passive mutual fund breaches within 30 days

India, U.S. trade talks face roadblocks ahead of tariff deadline, Indian sources say

Trump says 'very big' trade deal coming up with India

CBDT orders processing of late returns, refunds filed upto March 2024

Ask justified, specific questions from taxpayers during scrutiny: CBDT to I-T officials

Irdai flags issues at 8 insurers over health master circular norms

“Networking guidelines will help CA firms gain scale”: ICAI President Charanjot Singh Nanda

56th GST Council Meeting: Slabs, cess and simplification – Here’s what to expect

NSE offers $160 million to settle with SEBI, move ahead with IPO, sources say

Fraud case against Bank of Baroda's ex-branch head in UP; CBI raids places in Meerut, Bharuch

International News:

PCAOB permanently bars repeat offender

IASB Issues Revised Practice Statement on Management Commentary

PCAOB Gets New Life—For Now — Thanks to the Senate’s Nonpartisan Referee

Exposure Draft:

MCA Draft:

Draft Companies (Meetings of Board and its Powers) Amendment Rules
[Last date for Comments: July 17, 2025] 

Acts & Regulations:

SEBI Master Circulars:

Master Circular for Investment Advisers
[Updated as on June 27, 2024

Master Circular for Research Analysts
[Updated as on June 27, 2024

CA's Referencer:

Income Tax:

Income Tax Rates - AY 2026-27 and 2025-26

TDS Rates - For AY 2026-27

Legal Updates:

Income Tax:

DTAA with The Sultanate of Oman [Notification No.69]

SEBI:

Industry Standards on “Minimum information to be provided to the Audit Committee and Shareholders for approval of Related Party Transactions”

Timelines for rebalancing of portfolios of mutual fund schemes in cases of all passive breaches

DGFT:

Port restriction on import of certain goods from Bangladesh to India under ITC (HS), 2022 Schedule 1 (Import Policy) [Notification No.21]

Amendment under Appendix 2T (List of Export Promotion Councils/Commodity Boards/Export Development Authorities) of Appendices and ANFs of FTP 2023 [Public Notice No.13]

Customs:

Seeks to impose ADD on Plastic Processing Machinery, originating in or exported from China PR and Taiwan [Notification No.21(ADD)]

Seeks to impose CVD on imports of ‘Effect pearlescentpigments or mica pearlescent pigments, excluding effect pigments for automotive applications’ originating in or exported from China PR [Notification No.4(CVD)]