Daily Newsletter - October 29, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

CBIC Budget Consultation

RBI Drafts

IFSCA Draft

SEBI Drafts

Acts & Regulations:

RBI Directions

Legal Updates:

Income Tax

GST

MCA

RBI

IFSCA

DGFT

Customs

News Update:

Indian News:

ICAI proposes to relax rules for CAs, experts seek more

ITR deadline extended by Courts to November 30; CBDT yet to respond

Explained: What Sebi's new TER rules mean for mutual fund investors

Man gets tax notice for depositing Rs 8 lakh in bank account, he wins case in ITAT Delhi

Overhaul of GST processes in works for easier compliance, faster refunds

RBI directs banks to offer nomination facility; customers can opt out

The real price of cybercrime in 2025

Two new 'Ratna' categories to forge next gen CPSEs

DGFT plans to launch digital platform to link testing, inspection agencies

Govt clears 7 projects worth Rs 5,500 cr under electronics components scheme

India advances anti-dumping probe into TB drug imports from China, Thailand

Govt plans to hike foreign investment cap in PSBs to 49%, says report

No extra GST on tobacco; Centre plans new levy as cess period nears end

India's rare earth plan faces fresh hurdles as China tightens exports

Sebi proposes incentives to boost retail participation in debt securities

Is your financial advisor legit? Here's how to check Sebi registration

International News:

AI Adoption in Audit is On the Rise

Failure to prevent fraud: reasonable defence: ICAEW

Accounting Firms Say Foreign Issuers Face Major Obstacles if SEC Mandates US GAAP

Exposure Drafts:

CBIC Budget Consultation:

Suggestions from the Industry and Trade Associations for Budget 2026-27 regarding changes in direct and indirect taxes
[Last date for Comments: November 10, 2025] 

RBi Drafts:

Draft Reserve Bank of India (Commercial Banks - Capital Market Exposure) Directions, 2025
[Last date for Comments: November 21, 2025] 

Draft Reserve Bank of India (Small Finance Banks - Capital Market Exposure) Directions, 2025
[Last date for Comments: November 21, 2025] 

Draft ‘Reserve Bank of India (Non-Banking Financial Company – Scale Based Regulation) Amendment Directions, 2025’
[Last date for Comments: November 21, 2025] 

Draft circular on Unique Transaction Identifier for OTC Derivative Transactions in India
[Last date for Comments: November 14, 2025] 

IFSCA Draft:

Public Consultation on Regulatory Framework for Dematerialisation of securities by entities in the IFSC jurisdiction
[Last date for Comments: November 16, 2025]
 

SEBI Drafts:

Consultation paper on comprehensive review of SEBI (Mutual Funds) Regulations, 1996
[Last date for Comments: November 17, 2025] 

Consultation paper for permitting debt issuers to offer incentives in public issues to certain category of investors
[Last date for Comments: November 17, 2025] 

Consultation paper on Relaxation in the threshold for identification of High Value Debt Listed Entities (HVDLEs) and measures facilitating ease of doing measures for HVDLE including provisions relating to Related Party Transactions
[Last date for Comments: November 17, 2025] 

Acts & Regulations:

RBI Directions:

Reserve Bank of India (Investment in AIF) Directions, 2025 (Updated as on October 24, 2025)

Legal Updates:

Income Tax:

Due date extension u/s 139(1) for assessees whose accounts are required to be audited [Press Release]

Notification u/s 120 of the Income Tax Act, 1961 regarding proposal for CPC ITR to initiate rectification of orders passed by Assessing Officers due to errors in accounting due to erroneous accounting [Notification No.155]

GST:

Advisory to file pending returns before expiry of three years

Assigning proper officer under section 74A, section 75(2) and section 122 of the Central Goods and Services Tax Act, 2017 [CGST Circular No.254]

MCA:

Establishment of RDs under LLP Act 2008

Establishment of ROCs under LLP Act 2008

Establishment of ROCs under Companies Act 2013

Establishment of RDs under Companies Act 2013

RBI:

RBI (Nomination Facility in Deposit Accounts, Safe Deposit Lockers and Articles kept in Safe Custody with the Banks) Directions, 2025

IFSCA:

Framework on Stewardship Code in IFSC

DGFT:

Amendment of Appendix 2B [List of Agencies Authorised to issue Certificate of Origin (Preferential)] of Foreign Trade Policy, 2023 [Public Notice No.30]

Amendments in Para 2.88 and Para 2.91 of Handbook of Procedures [Public Notice No.29]

Clarification regarding applicability of restriction on Silver Jewellery imposed vide Notification No. 34/2025-26 dated 24.09.2025 [Circular No.6]

Pilot Launch of Bharat Aayat Niryat Lab Setu [Trade Notice No.14]

Customs:

Amendment to Notification No. 77/2023-Customs (N.T.) dated 20.10.2023 - Revision of AIR of duty drawback of Gold jewellery and silver jewellery/articles [Notification No.67(NT)]

Notification of ICD Malur, Kolar District, Karnataka u/s. 7(1)(aa) of Customs Act, 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962 [Notification No.66(NT)]

Seeks to amend the Notification No. 66/2021-Customs(ADD) dated 11.11.2021 [Notification No.30(ADD)]