Weekly Newsletter - July 15, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

ICAI Drafts

RBI Draft

IFSCA Drafts

Legal FAQs:

IFSCA FAQs

Acts & Regulations:

IBBI Regulations

IFSCA Regulations

Useful Forms:

ITR eFiling Utilities for AY 2026-27

Tech Zone – Simplifying Technology for CAs:

From the ICAI:

ICAI Publication

Tech-Zone Series - New Article

Legal Updates:

Income Tax

IBBI

SEBI

IRDAI

DGFT

Customs

News Update:

Indian News:

GSTAT token mechanism safeguards appeal rights, but experts warn legal ambiguity could trigger fresh litigation

IFSCA panel proposes mortgage REITs, tax parity and dual listings

Delhi HC to hear plea on judges' allowances under new income-tax regime

ICAI Corporate Mitra registration begins today

HDFC Bank gets RBI nod to appoint Rajiv Kumar as part-time chairman

Shipping ministry gives in-principle approvals for shipbuilding and repair clusters in Gujarat

Ficci launches Family Office Forum to unlock $30 billion for startups

RBI Ombudsman scheme offers up to Rs 33 lakh to customers: Know rules

Supreme Court upholds SEBI's ₹2.1 crore penalty on Kotak AMC, Nilesh Shah and others against Essel Group

ITR 2026: Increased disclosure requirements for overseas investments and foreign assets—are Indian taxpayers ready?

MCA flags jurisdiction issue over ICAI's Global Networking Guidelines

RBI proposes easing rules for mutual funds, insurers to acquire higher stake in banks

VISHWAS 2026 to settle PF penalty disputes: Who benefits from scheme

India, EU textile bodies launch platform to support FTA implementation

Govt amends trade policy, bans import of goods produced with forced labour

Mospi launches trial services output index to track monthly sector activity

CCI finds laptop maker HP rigged bids, levies Rs 14.28 crore penalty

Online gaming firms move SC for review of 28% GST verdict

Income tax guide: Allowance and reimbursement exemption limits every salaried employee should know

EPFO adds new PF transfer option after job switch: What has changed

India-UK CETA explained: What's changing in tariffs, duties from July 15?

GST Tax officer can allege fraud first and prove it later, rules Madras High Court; Why this matters to every taxpayer

Sebi tightens staff conduct norms, sharpens conflict-of-interest rules

MP's biggest online trading scam: 20,507 mule accounts used to launder Rs 21 crore; probe traces 12 transaction layers

RBI steps up scrutiny of Corporate India's foreign investments

MCA considers global audit norms placing responsibility on group auditors

EPFO launches one-time Amnesty Scheme for exempted PF trusts after portal revamp: What it means

ED attaches assets worth ₹1,000 crore in Reliance Anil Ambani Group probe

GST law panel clears proposal to shield buyers' input tax credit from supplier defaults

₹6.5cr GST evasion detected in raids on 41 traders

Govt mandates CPSEs to route MSME invoice settlements through TReDS

FM Sitharaman, CEA urge GCCs to move up the value chain as AI threat looms

TN launches virtual GST hearings to ease taxpayer compliance

SEBI makes custodian fees monthly from annual payment

Sebi cancels registration of 12 research analysts over unpaid renewal fees

CBDT to reflect foreign financial information in AIS, Form 26AS under AEOI

Section 234B interest on updated ITRs: CPC's computation logic appears contrary to law

EPFO update: 10 key changes new centralised system brings to EPF, EPS subscribers

ITR filing 2026: When do NRIs need to file Schedule FA to declare foreign asset

Could missing your ITR land you in jail? What taxpayers should know

Could you have unclaimed insurance money? Here's how to find and recover it

International News:

Is the world really running out of auditors?

PCAOB seeks public input on standard-setting priorities for the first time

[Australia] In wake of KPMG scandal, government considers splitting accounting firms' auditing and consulting arms

Exposure Drafts:

ICAI Drafts:

Proposed Stipend rates payable to Articled Assistant undergoing 2 years of practical training
[Last date for Comments: August 5, 2026] 

Draft Guidance Note on Tax Audit under Section 44AB of the Income-tax Act, 1961
[Last date for Comments: July 25, 2026] 

RBI Draft:

Draft RBI (Acquisition and Holding of Shares or Voting Rights) Amendment Directions, 2026
[Last date for Comments: August 4, 2026] 

IFSCA Drafts:

Consultation Paper On The Regulatory Framework For Direct Listing Of Specified Securities Without Public Offer
[Last date for Comments: August 3, 2026] 

Consultation Paper for issuing Circular on Foreign Currency Settlement System (FCSS) to International Banking Units (IBUs) in GIFT IFSC
[Last date for Comments: July 24, 2026] 

Legal FAQs:

IFSCA FAQs:

FAQs on IFSCA (Anti Money Laundering, Counter-Terrorist Financing And Know Your Customer) Guidelines, 2022

Acts & Regulations:

IBBI Regulations:

IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 
[Amended upto June 9, 2026] 

IBBI (Pre-Packaged Insolvency Resolution Process) Regulations, 2021 (Amended upto 02-06-2026)

IFSCA Regulations:

Consolidated IFSCA (Registration of Insurance Business) Regulations, 2021
[Amended upto June 12, 2026]

Consolidated IFSCA (Finance Company) Regulations, 2026
[Amended upto May 7, 2026]

Useful Forms:

ITR eFiling Utilities for AY 2026-27:

New Release:
ITR 7 - Excel Utility

ITR 7 - Schema & Validation Rules

From the ICAI:

ICAI Publication:

Handbook on Government Supplies under GST (Including TDS Provisions) 
[Published in May 2026]

Tech Zone – Simplifying Technology for CAs:

Tech-Zone Series - New Article:

Tech-Zone Series: Excel ITR Filing Mastery: Practical Hacks Every CA Needs This Season

Part 3B: Smart File Management, OneDrive & Safe Submission

Legal Updates:

Income Tax:

No TDS on payment by made by any payer to a person being a Unit of International Financial Services Centre (IFSC Unit) [Notification No.80]

Order u/s 239 of the Income-tax Act, 2025 for uploading of information received under Automatic Exchange of Information (AEOI) framework to AIS & Form 26AS

Order u/s 119 of the Income-tax Act, 1961 for uploading of information received under Automatic Exchange of Information (AEOI) framework to AIS & Form 26AS

IBBI:

Extension of time for filing Forms to monitor insolvency resolution processes for Personal Guarantors to Corporate Debtors

SEBI:

Code of Conduct for Members of the Securities and Exchange Board of India

SEBI (Employees' Service) (Amendment) Regulations, 2026

SEBI (Foreign Venture Capital Investors) (Amendment) Regulations, 2026

SEBI (Issue and Listing of Municipal Debt Securities) (Amendment) Regulations, 2026

Intraday borrowing facility availed by mutual funds

IRDAI:

Formats for publishing financial results as required under the SEBI (LODR) Regulations, 2015

DGFT:

Prohibition on Import of Goods Produced Using Forced Labour – Insertion of Para 2.20B and Para 11.64 in the Foreign Trade Policy (FTP) 2023 [Notification No.23]

Insertion of Para 2.50A in Handbook of Procedure, 2023 [Public Notice No.21]

Clarifications on Interest Subvention Support for Pre- and Post-Shipment Export Credit under Export Promotion Mission (EPM) - Niryat Protsahan [Trade Notice No.13]

Launch of Global Outreach for Branding, Labelling and Export Packaging under Export Promotion Mission (EPM) – Niryat Disha [Trade Notice No.12]

Electronic filing and Issuance of Preferential Certificate of Origin under lndia-UK comprehensive Economic and Trade Agreement (CETA) with effect from July 15, 2026 [Trade Notice No.11]

Amendments under Para 2.92 and Appendix-2A of Handbook of Procedure 2023 for inclusion of TRQs under India – Oman Comprehensive Economic Partnership Agreement (CEPA) [Public Notice No.20]

Amendments under Para 2.92 and Appendix-2A of Handbook of Procedure 2023 for inclusion of TRQs under India – United Kingdom Comprehensive Economic and Trade Agreement (CETA) [Public Notice No.19]

Customs:

Seeks to give effect to the first tranche of tariff concessions under India-UK Comprehensive Economic and Trade Agreement (CETA) [Notification No.29]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.63(NT)]

Implementation of self-certification of Origin Declarations under the India-United Kingdom Comprehensive Economic and Trade Agreement (India-UK CETA) [Circular No.33]

Discontinuation of submission of manual documents/statements in respect of containers imported under Notification No. 104/94-Customs dated 16.03.1994 by the Shipping Lines [Circular No.32]

Amendment in Notification No.08/2016 [Notification No.28]

Seeks to extend anti dumping duty on imports of “Aceto Acetyl Derivatives of Aromatic Or Hetrocyclic Compounds” also known as “Arylides” originating in or exported from China PR till and inclusive of 13th January 2027 [Notification No.17(ADD)]

Seeks to amend Notification No. 25/2002-Customs dated 01.03.2002 so as to merge S. Nos. 69 and 69A relating to specified capital goods for manufacture of Lithium Ion Cell [Notification No.27]

Seeks to amend Notification No. 57/2017-Customs dated 30.06.2017 so as to provide BCD exemption on specified goods used in the manufacture of Inductor Coil Module for wireless charging of cellular mobile phones, subject to specified conditions [Notification No.26]

Seeks to amend Notification No. 45/2025-Customs dated 24.10.2025 so as to provide BCD exemption on specified goods used in the manufacture of display assemblies falling under heading 8524 for automotive, medical or industrial applications, subject to specified conditions [Notification No.25]