Weekly Newsletter - October 1, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Acts & Regulations:

IBBI Regulations

RBI Master Directions

SEBI Master Circular

IFSCA Regulation

Legal Updates:

Income Tax

IBBI

RBI

FEMA

SEBI

IFSCA

DGFT

Customs

Central Excise

News Update:

Indian News:

Businessman gets two years RI, ₹7.54 lakh fine for income-tax evasion

Bankers Books Evidence Act, 2026 - PIB

NFRA flags deeper going concern scrutiny, sets out 35 questions for audit committees

Senior citizen mistakenly paid tax on Rs 25.42 lakh tax-free interest earnings; ITAT Delhi ordered Rs 9.91 lakh refund

Govt extends RoDTEP, RoSCTL export tax remission schemes till December 31

ICAI ramps up tax audit scrutiny tenfold, 1,000 firms under review

Sebi, RBI join hands to make onboarding easier for FPIs

SEBI levies ₹20 lakh fine on Shares Bazaar, four others for violating market norms

Interest rates on small savings schemes remains unchanged for Oct-Dec

Sold a property? Eight different ways to reduce your capital gains tax bill

NRE vs NRO FD TDS rules: Tax rate for NRIs, PAN rules, DTAA benefit and repatriation limit

ED arrests Vatika Group promoters in ₹154 crore money laundering case

SC limits Fortis forensic audit, bars 'fishing and roving' bank inquiry

RoDTEP scheme extension likely for exporters as September 30 deadline nears

ICAI wants up to Rs 5 crore govt consultancy tenders reserved for smaller firms, working on draft proposals

How much risk can you take? Pension regulator plans to ask before you choose a NPS scheme

Buying property from an NRI? Know the new TDS, PAN, and Form 141 rules effective October 1

Gautam Adani, four group firms, 13 others settle MPS case with Sebi

Income Tax Department shares foreign assets info with taxpayers, nudges for disclosure

Deadlines for income tax audit and ITR filing extended for AY 2026-2027 to these dates

CBIC eases paperwork to claim concessional duty on imports from UK

FD interest rate rules to change from October 1: Key changes explained

3 political parties ran Rs 1,870 crore donation scam, fought elections in Gujarat

Cash deposits from farm sales: ITAT rules in favour of Karnataka farmer despite missing expense records

Sebi bans Omaxe, five others for violating minimum public shareholding norms

Sebi approves new rules to widen investment avenues

ICAI to certify independent directors, new course likely by October-end

IRDAI proposals on insurance’s money machine leads to bloodbath for stocks: What happens to your money

International News:

[Australia] Ex-KPMG executive sues firm after being sacked over audit scandal

Audit in an AI World: AI is raising the stakes for electronic bank confirmations

Acts & Regulations:

IBBI Regulations:

IBBI (Liquidation Process) Regulations, 2016 (Amended upto 22-09-2026)

RBI Master Directions:

Master Directions on Prepaid Payment Instruments (PPIs) (Updated as on September 30, 2026)

Master Direction – Money Transfer Service Scheme (MTSS) (Updated as on September 29, 2026)

Master Direction - Money Changing Activities (Updated as on September 29, 2026)

SEBI Master Circular:

Master Circular for Debenture Trustees

IFSCA Regulation:

IFSCA (Electronic Trading Platforms) Regulations, 2026

Legal Updates:

Income Tax:

CBDT specifies subordination of JCIT/Addl. CIT (Appeals) to Pr. CCIT/CCIT [Notification No.133]

Extension of timelines for filing of various reports of audit and Income Tax Returns (ITRs) for the Assessment Year 2026-27 [Circular No.7]

CBDT extends due date for furnishing Return of Income for AY 2026-27 in respect of persons subject to audit under the Income-tax Act, 1961 [Press Release]

IBBI:

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

Commencement of levy of fee for delayed filing of Forms under Regulation 47B of the Liquidation Process Regulations

RBI:

Consolidation/ Review of instructions issued on currency management matters – Withdrawal of Circulars/ Guidelines

Cassette - Swaps in ATMs

FEMA:

Foreign Exchange Management (Export and Import of Goods and Services) (Amendment) Regulations, 2026

SEBI:

Display of “investor awareness message(s)” by stock brokers on their trading apps and websites, under Project Jagrook

IFSCA:

Extension of timeline for completion of Certification Course by KMPs and other employees of Capital Market Intermediaries under the IFSCA (Capital Market Intermediaries) Regulations, 2025

Extension of timeline for completion of Certification Course by KMPs and employees of Fund Management Entities under the IFSCA (Fund Management) Regulations, 2025

Regulatory Framework for differential distribution

DGFT:

Continuation of RoDTEP Scheme till December 31st 2026 [Notification No.41]

Extension of Minimum Import Price (MIP) Condition on Sulfadiazine API covered under Chapter 29 of ITC HS, 2022, Schedule -I (Import Policy) [Notification No.40]

Extension of Minimum Import Price (MIP) Condition of specific items covered under Chapter 29 of ITC HS, 2022, Schedule -I (Import Policy) [Notification No.39]

Extension in Minimum Import Price (MIP) Condition of specific items covered under Chapter 48 of ITC HS, 2022, Schedule - I (Import Policy) [Notification No.38]

Amendment to Notification No. 65/2025-26 and 21/2026-27 for extension of timelines under Component II of Resilience & Logistics Intervention for Export Facilitation (RELIEF) Intervention [Notification No.37]

Extension of timeline for surrender of unutilised TRQ quantity allocated for import of 1 o LMT of Raw Sugar [Public Notice No.31]

Customs:

Requirement of import permit for non-insecticidal use of insecticides [Instruction No.18]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.80(NT)]

Appointment of Common Adjudicating Authority in the case of M/s. R&M India Pvt. Ltd. (IEC: 0710003323) – Consolidated Adjudication of Multiple Show Cause Notices arising from SVB Investigation Report No. 24/2024 dated 23.01.2025 [Notification No.79(NT)]

Appointment of common adjudicating authority in respect of M/s Tirupati Udyog Limited, Kotur [Notification No.78(NT)]

Appointment of common adjudicating authority in respect of M/s Meenakshi Trading Corporation and others [Notification No.77(NT)]

Notification of ports at Campbell Bay and Car Nicobar u/s. 7(1)(a) of Customs Act, 1962 [Notification No.76(NT)]

Seeks to amend Notification No. 33/2022-Customs (ADD), dated 30th December, 2022 imposing Anti-dumping Duty on imports of Jute Products originating in or exported from Nepal and Bangladesh, to modify the existing duty table [Notification No.24(ADD)]

Seeks to impose countervailing duty on imports of “Calcium Carbonate Filler Masterbatch” originating in or exported from Vietnam [Notification No.4(CVD)]

Establishment of a Special Notified Zone (SNZ) at Surat International Diatrade Centre (SIDC), 2nd Floor, Tower-B, Surat Diamond Bourse, Khajod, Surat [Circular No.44]

Application of Section 28DA of the Customs Act, 1962 and CAROTAR, 2020 consistent with the Rules of Origin under Trade Agreements [Circular No.43]

Mandatory additional qualifiers in export declarations in respect of certain textile products w.e.f 01.11.2026 [Circular No.42]

Central Excise:

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 Aviation Turbine Fuel (ATF) outside India [Notification No.53]

Seeks to amend Notification No. 06/2026-Central Excise dated 26.03.2026 to revise the Special Additional Excise Duty (SAED) rate on exports of diesel outside India [Notification No.52]