Daily Newsletter - March 20, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Acts & Regulations:

New Income Tax Act

CA's Referencer:

NFRA Inspection Reports for 2024

Legal Updates:

Income Tax

IFSCA

DGFT

Customs

News Update:

Indian News:

HDFC Bank asks three senior executives to leave over mis-selling concerns

Govt launches ₹20,000 crore credit guarantee scheme to boost MFIs

New I-T Act to ease compliance for small taxpayers: FM Nirmala Sitharaman

RBI fines HSBC ₹31.80 lakh for non-compliance with deposit norms

SBI gets Rs 63,375 crore tax demand for AY24, to challenge order

ICICI Bank gets Rs 769 cr GST demand notice

EPFO guidelines for international workers: Govt lays down procedure to transfer EPF amount to foreign accounts

CA among four held from New Delhi for ‘digital arrest’ of doc

New tax rules notified: From HRA to company car to meal card, top 5 prominent changes which will impact salaried taxpayers

CBDT notifies rules for simplified I-T law, to be effective from April 1

HC relief for charitable trusts in regn dispute with I-T dept

Massive land record fraud hits up to 2 lakh families; Maharashtra orders statewide audit

India-UK FTA likely to be implemented by early May; EU by year-end

RBI working to provide avenues to Russian trade counterparts for rupee use

RBI sees no governance concerns at HDFC Bank after Atanu Chakraborty's exit, approves interim transition

PhysicsWallah gets ₹263 crore tax notice, says will challenge order

FCRA amendments to fix validity of foreign contributions

International News:

[Canada] Audit watchdog flags 'significant' problems in Big Four's work in review that actually names names

Acts & Regulations:

New Income Tax Act:

The Income Tax Rules, 2026

CA's Referencer:

NFRA Inspection Reports for 2024:

Price Waterhouse & Affiliates’ Network – Inspection Report No.132.2-2024-01

M/s SRBC & Co. LLP – Inspection Report No.132.2-2024-02

M/s MSKA & Associates LLP– Inspection Report No. 132.2-2024-03

BSR Affiliates Network – Inspection Report No.132.2-2024-04

Legal Updates:

Income Tax:

Offices to remain open on March 31, 2026

IFSCA:

Support for Alternative Trade Instruments under Export Promotion Mission (EPM) – NIRYAT PROTSAHAN

DGFT:

Clarification on Support for Interest Subvention for pre-shipment and post-shipment credit [Trade Notice No.33]

Amendments in Standard Input Output Norms (SION) A-2005 [Public Notice No.52]

Time-limited Support for Exporters in view of Geopolitical Disruptions in the Gulf and West Asia Maritime Corridor [Notification No.65]

Customs:

Duty drawback on the export of unlocked mobile handsets by merchant exporters [Instruction No.2]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.27(NT)]