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CAalley Newsletter dated February 3, 2023

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Latest additions to CAalley:


Indian News

Budget News

International News

Exposure Drafts:

SEBI Drafts

Acts & Regulations:


Reference Section:


Legal Updates:

Income Tax





News Update:

Sebi tweaks framework on credit rating agencies, asks for detailed policy

Banking sector remains resilient and stable: RBI

No extension to lower withholding tax triggers concern among FPIs: Report

Will bring scheme for disposal of small appeals: CBDT chairperson

Window for unlimited investment in insurance policies with tax-free return closes on March 31

Wait for interest credit for 2021-22 prolongs for lakhs of EPF subscribers

Monthly GST revenue at Rs 1.50 lakh crore to be new normal next fiscal: CBIC chief

Govt paves way for IFSC units to issue P-notes to foreign investors

Windfall tax to continue for now; collections at Rs 25k cr this year: Govt

Sebi clarifies on transaction in corp bonds via request for quote platform

Sebi mulls framework for REITs, InvITs to issue depository receipts


Budget News:

Tax reins tightened, charitable trusts have no margin of error

I-T, TDS to cover cash ‘benefits’

Notes on Clauses - Direct & Indirect Taxes -- As Published by IT Dept

Highlights of Finance Bill -- As Published by IT Dept

How many times can you switch between new tax regime and old tax regime?

10 things individual taxpayers should know

Understanding 20% TCS on foreign remittance transactions

Decriminalisation proposal can make investors gung-ho about doing business

Personal income tax googlies you must watch out for

Finance Minister proposes amendments to banking laws

Budget proposals don't seek privatisation of state-owned banks: DEA Secy

Govt hikes import duty on toys to 70% to boost domestic manufacturing

Budget gives thrust to handicrafts, ELS cotton


International News:

Central banks should stick to 'higher for longer' interest rate approach: IMF

BOE Raises Key Rate to 4% Saying More Hikes May Be Needed

Fed raises rates a quarter point, expects ‘ongoing’ increases

Exposure Drafts:

SEBI Drafts:

Consultation Paper on providing option to Alternative Investment Funds and their investors to carry forward unliquidated investments of a scheme upon completion of its tenure
[Last date for Comments: February 18,2023] 

Consultation Paper on Regulatory Framework for REITs and InvITs to issue Depository Receipts
[Last date for Comments: February 21,2023] 


Acts & Regulations:


Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) (Amendment) Regulations, 2023 [Dated February 2, 2023]


Reference Section:


Analysis of Indirect Tax Updates in Finance Bill 2023 

Legal Updates:

Income Tax:

​​FAQs on e-Verification Scheme 2021



Manner of achieving minimum public shareholding

Amendments to Operational Circular for Credit Rating Agencies

Transaction in Corporate Bonds through Request for Quote (RFQ) platform by Alternative Investment Funds (AIFs)



Amendment in Appendix 2T (List of Export Promotion Councils/Commodity Boards/Export Development Authorities) of Foreign Trade Policy 2015-2020 [No.55]



Exchange rate Notification No. 08/2023-Cus (NT) dated 02.02.2023 [No.8(NT)]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [No.7(NT)]


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