Daily Newsletter - June 3, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

From the ICAI:

ICAI Publication

Reference Section:

CA's Referencer

Tech Zone – Simplifying Technology for CAs:

Tech Zone Article

Legal Updates:

Income Tax

DGFT

Customs

News Update:

Indian News:

CA firms to onboard interns under PMIS, allowed to advertise under ICAI’s revised code

Govt to cut taxes, relax bond ownership rules to attract foreign investment

Govt to phase out WPI, launch new Producer Price Index in 5 years

SEBI cancels registrations of five AIFs over reporting violations

Sebi to relax InvIT cash flow distribution rules

Lady sold apartment, took Rs 2.5 lakh cash, paid no tax, wins case in ITAT Chennai

At Big 4 firms, AI is starting to reshape the tax profession

RBI launches 2 key surveys

I-T relief over flat from dad sans gift deed

International News:

KPMG Australia CEO and audit head quit over whistleblower investigation

What ‘Know Your Customer’ best practice should look like for accountants in 2026

From the ICAI:

ICAI Publication:

Handbook on Applicability of GST on Agricultural Sector
[Published in January 2026]

Reference Section:

CA's Referencer:

Code of Ethics
(Applicable w.e.f April 1, 2026)

Volume I

Volume II

Volume III

Tech Zone – Simplifying Technology for CAs:

Tech Zone Article:

Your Black Boxes Aren't Hiding Anything 

Legal Updates:

Income Tax:

Specification of Eligible Infrastructure Business for the purposes of Schedule V [Table: Sl. No. 7] of The Income Tax Act, 2025 [Notification No.70]

DGFT:

Applicability of Quality Control Orders (QCOs)/BIS requirements on imports by Special Economic Zone (SEZ) Units and Developers- Amendment in Para 2.03(A)(iii) of FTP, 2023 [Notification No.20]

Amendment in import policy condition of specific ITC HS Codes covered under Chapter 71 of ITC (HS), 2022, Schedule - I (Import Policy) [Notification No.19]

Nomination of Non-official Members of the Board of Trade [Notification No.18]

Amendments in Para 2.88 of Handbook of Procedures [Public Notice No.16]

Amendment of Appendix 2B [List of Agencies Authorised to issue Certificate of Origin (Preferential)] of Foreign Trade Policy, 2023 [Public Notice No.15]

Fixation of Six New Standard Input Output Norms (SIONs) at SION No. A-3702, A-3703, A-3704, A-3705, A-3706 & A-3707 under "Chemical and Allied Product" (Product Code-'A') [Public Notice No.14]

Request for comments on alignment of Schedule-II (Export Policy) of ITC (HS), 2022 consequent to amendments introduced under the Finance Act, 2026 [Trade Notice No.7]

Customs:

Streamlining of mechanism for seeking clarification on interpretation of Foreign Trade Policy (FTP) provisions from DGFT [Instruction No.7]

Seeks to continue countervailing duty on imports of "Textured Tempered Glass" originating in or exported from Malaysia, for 5 years pursuant to Sunset Review Final Findings issued by DGTR [Notification No.2(CVD)]