Weekly Newsletter - August 19, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

IBBI Draft

DGFT Draft

SEBI Drafts

IFSCA Drafts

Legal FAQs:

Income Tax FAQs

Useful Forms:

ITR eFiling Utilities for AY 2026-27

CA's Referencer:

Accounting & Auditing

International Content:

ICAEW Reference Material

Legal Updates:

Income Tax

CCI

SEBI

DGFT

Customs

Central Excise

News Update:

Indian News:

Sebi bars two entities, impounds ₹3.67 crore over manipulative CAS trades

Sleepy Rajasthan town’s CCTV footage helps Maharashtra police crack Rs 2.14-crore digital arrest fraud

Income-tax dept working to reduce uncertainty in international tax cases

CCI revises commitment rules as Google, IndiGo proposals await decision

Brics nations oppose EU's CBAM, say it burdens developing economies

Creditors see 1% recovery in case of personal guarantees

I-T department checks 394 entities over suspicious foreign remittances

NRI Dubai policy: Why ITAT allowed tax exemption

Moving back to India? What NRIs need to know about US tax obligations

CAS here to stay, it can be improved upon: Sebi

MSMED amendment bill could be an 'IBC moment' for small enterprises: Report

Sebi revamps mutual fund registration process, sets out eligibility norms

Son wins 54F tax case on inherited land from mother

FCNR(B) swap window explained: Why RBI opened it, then advanced deadline

Insolvency, bankruptcy board aims to check misuse of law

RBI moves to distance self from bank deposit ratings

Sebi launches portals to strengthen cybersecurity incident reporting

MDR on UPI payments: Six rules govt must settle before charges can start

Banking leaders urged to shape reforms as government readies panel for Viksit Bharat 2047

Govt opens one-time foreign assets' disclosure window starting Aug 16

Gujarat High Court bars retrospective GST on corporate guarantees

Sebi proposes settlement framework overhaul, seeks simpler calculations

RBI to prematurely end FCNR(B) swap facility, deposits allowed till Aug 31

FinMin warns against high turnover, payroll criteria in GeM tenders

Cyber fraud probe over Rs 36,000 cannot block entire bank account, says Allahabad HC

No GST arrests without communicating order, ‘reasons to believe’: Supreme Court

Waiting for higher EPFO pension? Govt announces 4 steps to speed up claims

NPS for NRIs: Investment options, account rules and repatriation explained

NRI used NRE account to buy property, got tax notice; ITAT grants full relief

NRI selling property in India: Should sale proceeds go to an NRE or NRO account? Know repatriation limits and RBI rules

Presumptive taxation for professionals: The 50% rule remains-but what changes for deductions and losses under the new tax Act?

RBI issues directions on fixed, floating rate loans: What changes for home, personal, MSME loans and existing borrowers

Sebi proposes mandatory 'Credit Risk-o-Meter' for debt securities

China extends anti-dumping duties on Indian optical fibre for 5 years

International News:

FASB adds project on goodwill impairment

Why accountants are the guardians of public trust

Overconfidence in AI governance means safety takes a back seat to speed

[Australia] KPMG will sack dozens of partners, 1000 staff amid audit scandal fallout

[Australia] KPMG discloses new evidence to regulators regarding whistleblower allegations

Exposure Drafts:

IBBI Draft:

Discussion Paper - Guidance to Insolvency Professionals for Due Diligence to Identify Fraudulent or Malicious Initiation of Corporate Insolvency Resolution Process, and Recourse under Sections 60(5) and 65 of the Insolvency and Bankruptcy Code, 2016
[Last date for Comments: August 24, 2026] 

DGFT Draft:

Draft Standard Operating Procedure (SOP) for reporting of Inward Remittance Messages pertaining to NBFC Factors
[Last date for Comments: September 11, 2026] 

SEBI Drafts:

Consultation Paper on Review of SEBI (Settlement Proceedings) Regulations, 2018
[Last date for Comments: September 4, 2026] 

Consultation Paper on Review of Know Your Client process for individual Persons Resident Outside India
[Last date for Comments: September 4, 2026] 

Consultation paper on the mandatory adoption of a Credit Risk-o-Meter as an additional disclosure mechanism for debt securities
[Last date for Comments: September 3, 2026] 

Consultation Paper on review of Accredited Investor framework
[Last date for Comments: September 3, 2026] 

IFSCA Drafts:

Consultation on Enabling Operating Lease, including any Hybrid of Operating and Financial Lease, of 'GPU and Connected Data Centre Equipment' as a Financial Product 
[Last date for Comments: August 28, 2026] 

Consultation Paper on the Draft Circular titled “Framework for Leasing Activity in International Financial Services Centre"
[Last date for Comments: September 2, 2026] 

Legal FAQs:

Income Tax FAQs:

FAQs on The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (Chapter IV, sections 130 to 144 of the Finance Act, 2026)

Useful Forms:

ITR eFiling Utilities for AY 2026-27:

Updated on August 14, 2026:

Common Offline Utility (ITR 1,2,3 and ITR 4)
• Utility for Windows
• Utility for MAC

Released on August 14, 2026:
ITR 7:
* Utility for Windows
* Utility for MAC

Updated on August 14, 2026:
ITR 5:
* Utility for Windows
* Utility for MAC

Updated on August 13, 2026:
ITR 2
* Excel Utility
* Schema
* Schema Change Document

CA's Referencer:

Accounting & Auditing:

General Financial Rules (GFR), 2017 (Essential for Government & PSU Auditors) 
[Updated upto January 31, 2026]

International Content:

ICAEW Reference Material:

Analytics in External Audit: Current Practice and Trends (2026)

Legal Updates:

Income Tax:

The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 - Rules and Forms [Notification No.114]

CCI:

The Competition Commission of India (Commitment) Amendment Regulations, 2026

SEBI:

Revision of Application Form for Mutual Fund Registration

Modification in the regulatory framework for Online Bond Platform Providers (OBPPs) including measures for promoting ease of doing business

Framework for Calculation of Net Distributable Cash Flows for InvITs

DGFT:

Amendment in Import Policy and Policy condition of Clear Float Glass, covered under Chapter 70 of Schedule – I (Import Policy) of ITC (HS) 2022 [Notification No.29]

Customs:

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.70(NT)]

Central Excise:

Seeks to amend Notification No. 11/2026-Central Excise dated 26.03.2026 to revise the Road and Infrastructure Cess (RIC) rate on exports of diesel outside India [Notification No.45]

Seeks to amend Notification No. 08/2026-Central Excise dated 26.03.2026 to revise the Special Additional Excise Duty (SAED) rate on exports of ATF outside India [Notification No.44]

Seeks to amend Notification No. 06/2026-Central Excise dated 26.03.2026 to revise the Special Additional Excise Duty (SAED) rates on exports of petrol outside India [Notification No.43]