Weekly Newsletter - August 6, 2025
Latest additions to CAalley:
Exposure Drafts:
Acts & Regulations:
CA's Referener:
From the ICAI:
Useful Forms:
Income Tax Return eFiling Utilities for AY 2025-26
International Content:
Legal Updates:
News Update:
GSTAT hearings to start 'very soon': Centre appoints key members, states to follow suit
Lok Sabha passes Merchant Shipping (Amendment) Bill
CFO churn: Most finance bosses exit in 2 years
RBI announces 3 consumer-centric schemes to drive financial inclusion
RBI MPC meet: What stayed the same, what changed in August policy review
RBI MPC meet: Key highlights from Governor Sanjay Malhotra's speech
PSBs told to setup one portal for startup lending
RBI removes prior approval requirement for opening vostro accounts
Jane Street guys are brilliant mathematicians, but we can have PhDs too: Sebi chief
IT dept finds ₹30,444 cr undisclosed income in FY25, held 465 surveys
Aadhaar is new weak link in insurance
Parl panel urges FinMin to expedite full enforcement of GSTAT benches
Amend Companies Act to bolster ESG initiatives, set up oversight body: House panel tells MCA
SEBI wants bigger slice for MFs, Ulips and pension funds in IPO pie
Parl panel suggests regional fintech clusters on lines of GIFT City
IndusInd Bank appoints Rajiv Anand as MD & CEO for 3 years, effective Aug
Sebi proposes to relax limits for approval, disclosure of related-party transactions
I-T dept selects LTIMindtree to build PAN 2.0 for faster, unified services
Govt working on support measures to insulate exporters from Trump tariff: Official
GST evasion of Rs 7.08 lakh cr detected in 5 years, includes ITC fraud of Rs 1.79 lakh cr
CBI arrests Customs officer for ₹10.2 lakh bribe in cargo clearance case
Sebi pushes for structural reforms in derivatives after Jane Street fallout: Report
ED arrests ex-Axis MF manager in ₹2 trillion front-running scam probe
CCI widens antitrust probe against Google in online ad tech segment
Bizman arrested for Rs34cr GST Scam
'Sebi working on financial fraud checks': Sebi chairman Tuhin Kanta Pandey
India launches formal rules to fix, streamline drug and device clearances
RBI approves merger of New India Co-operative Bank with Saraswat Bank
NSE reaches Rs 40 crore settlement with Sebi over data disclosure case
Thinking of withdrawing EPF? You don't have to submit documents for claims
Jane Street not cooperating with authorities; I-T probe faces hurdles: Report
New banking law kicks in today to boost governance, protect deposits
SEBI proposes retail quota cut for large IPOs to 25%
India-US trade deal: Will protect farmers' interests, says government
Direct tax disputes soar 198% amid rising vacancies in revenue dept
ICAI works on early warning mechanism
RBI unlikely to re-introduce fixed-rate liquidity operations: Sources
Sebi fines nearly ₹4 cr on 11 entities for share price manipulation
Sebi confirms ban on Gensol, Jaggi brothers in fund diversion case
SC ruling will force international cos to rework India business model: Experts
FASB introduces guidance on credit losses for receivables
ISACA Expands Eligibility of First-ever Advanced AI Audit Certification
PCAOB Revokes Hong Kong Accounting Firm’s Registration, Bars Managing Partner
Federal Reserve leaves interest rates unchanged even as Trump demands cuts
Exposure Drafts:
Public Consultation for Review of IFSCA (Global In-House Centres) Regulations, 2020
[Last date for Comments: August 30, 2025]
Consultation Paper on Amendments To Provisions Relating To Related Party Transactions Under SEBI (LODR) Regulations, 2015 And Circulars Thereunder
[Last date for Comments: August 25, 2025]
Consultation Paper on Amendment to the definition of Strategic Investor for REITs and InvITs
[Last date for Comments: August 22, 2025]
Modification in the conditions specified for reduction in denomination of debt securities and non-convertible redeemable preference shares (NCRPS)
[Last date for Comments: August 21, 2025]
Revised Norms for appointment of an independent third-party reviewer/ certifier for green debt security
[Last date for Comments: August 21, 2025]
Consultation Paper on Facilitating Ease of Doing Business relating to Anchor Investor Allocation, Long-Term Institutional Participation and Retail Quota in Initial Public Offerings (IPO) under ICDR Regulations 2018
[Last date for Comments: August 21, 2025]
Acts & Regulations:
Master Direction – Export of Goods and Services (Updated as on August 5, 2025)
Reserve Bank of India (Investment in AIF) Directions, 2025
[Published on July 29, 2025]
Excel Utilities for New formats for Financial Statements
[Published by ICAI]
To download Excel Utilities, click on the links below:
Formats for Financial Statements of Non-Corporate Entities
Formats for Financial Statements of Limited Liability Partnerships
Formats for Financial Statements of NPOs
From the ICAI:
Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961
[Revised 2025]
Useful Forms:
Common offline utility for Form 3CA-3CD and 3CB-3CD and Schema have been updated
Income Tax Return eFiling Utilities for AY 2025-26:
Utilities and Schemas for the following have been updated:
Common Offline Utility (ITR 1 to ITR 4)
ITR 1
ITR 2
ITR 3
ITR 4
International Content:
Thematic Review:
Certification of Automated Tools and Techniques
[June 2025]
Legal Updates:
Review, Appeal or Waiver of penalty requests emanating out of actions taken by the Member Committee
International Trade Settlement in Indian Rupees (INR)
Master Circular for Research Entities in the IFSC
Master Circular for Investment Bankers in the IFSC
Master Circular for Investment Advisers in the IFSC
Master Circular for ESG Ratings and Data Products Providers in the IFSC
Master Circular for Distributors in the IFSC
Master Circular for Debenture Trustees in the IFSC
Master Circular for Credit Rating Agencies in the IFSC
Circular: Transition to IFSCA (Techfin and Ancillary Services) Regulations, 2025
Notification: IFSCA Fund Management (Amendment) Regulations, 2025
Notification: IFSCA (Procedure for making regulations and subsidiary instructions) Regulations, 2025
Clarification regarding Export of "Organic Textiles" [Circular No.3]
