Daily Newsletter - October 31, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

ICAI Exposure Draft

RBI Draft

Acts & Regulations:

IFSCA Regulation

Useful Forms:

ITR eFiling Utilities for AY 2025-26

Legal Updates:

Income Tax

GST

SEBI

IFSCA

DGFT

Customs

News Update:

Indian News:

Income Tax Tribunal move to back 22% tax on capital gains sparks row

SC stays GST demand on real estate joint development pacts

Why banks in India are changing their domain names?

Bank nomination process to credit card fees: Finance rule changes in Nov

Sebi to penalise MCX for 4-hour trading halt: Report

SEBI defers T+0 settlement deadline for brokers indefinitely

ICAI looks to set a brand new standard

Sebi caps weights in Bank Nifty, tightens index rules to broaden representation

Buyer of property to get Rs 2 crore refund; Telangana High Court order

Some Indian companies have received licenses to import rare earths from China: MEA

Unlisted subsidiaries set to breathe easy on disclosures

Both parents of govt staff 'have to' give life certificates for pension

Income Tax tribunal quashes Rs 445 crore tax demand against Netflix India

International News:

Audit Firms Back PCAOB QC Standard Delay; Investors Warn Against Using Deferral for Rule Revisions

IFAC opens doors to accounting with new principles

Deloitte to pay $34mn over audit work on US nuclear fiasco

US Fed cuts rates quarter point, sets end to balance-sheet runoff

Exposure Drafts:

ICAI Exposure Draft:

Exposure Draft : 13th edition of ICAI Code of Ethics - Request for Comments
[Last date for Comments: November 26, 2025] 

RBi Draft:

Draft circular on Guidelines to facilitate faster cross-border inward payments
[Last date for Comments: November 19, 2025] 

Acts & Regulations:

IFSCA Regulation:

IFSCA (Listing) Regulations, 2024,
as amended up to October 14, 2025

Useful Forms:

ITR eFiling Utilities for AY 2025-26:

Updated on October 30, 2025:

ITR 5
Utility
Utility for MAC
Excel Utility

ITR 6
Utility
Utility for MAC
Excel Utility

ITR 7
Utility
Utility for MAC
Excel Utility

Legal Updates:

Income Tax:

Extension of timelines for filing of various reports of audit and ITRs for the AY 2025-26 [Circular No.15]

GST:

Advisory : Introduction of Import of Goods details in IMS

SEBI:

Implementation of eligibility criteria for derivatives on existing Non-Benchmark Indices

Ease of doing business – Interim arrangement for certified past performance of Investment Advisers and Research Analysts prior to operationalisation of Past Risk and Return Verification Agency (“PaRRVA”)

Ease of doing business measures - Enabling Investment Advisers (“IAs”) to provide second opinion to clients on assets under pre-existing distribution arrangement

Further extension of timeline for mandatory implementation of systems and processes by Qualified Stock Brokers (QSBs) with respect to T+0 settlement cycle

IFSCA:

Modifications under the International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022

DGFT:

Amendments to the Procedure for Allocation of TRQ for Gold under the India–UAE CEPA [Public Notice No.31]

Inputs on Draft Amended Aayat Niryat Forms (ANF) (One Format for all kinds of Applications) for grant of SCOMET Authorisation for Export of SCOMET Items [Trade Notice No.17]

Procedure for refund of application fees deposited by applicants for Tariff Rate Quota (TRQ) for import of Gold Bullion under India-UAE CEPA for 2025-26 [Trade Notice No.16]

Revision of exporter eligibility criteria for registration on “Source from India” service of Trade Connect ePlatform [Trade Notice No.15]

Customs:

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.72(NT)]

Continuation of online application facility under MOOWR Scheme- hosted on Invest India Portal [Circular No.27]

Guidelines regarding Revision of Entries post Customs Clearance under section 18A of the Customs Act, 1962 [Circular No.26]

Seeks to amend notification 64/2023-customs dated 7th December, 2023 to make the nil duty concession to imports of Yellow Peas [HS Code 0713 10 10] covered under bill of lading issued on or before 31st October, 2025 [Notification No.47]

Seeks to impose import duty of 30% on Yellow Peas (HS 0713 10 10), leviable on all Bill of Lading issued on or after 1st November, 2025 [Notification No.46]