Weekly Newsletter - April 9, 2025
Latest additions to CAalley:
News Update:
Exposure Drafts:
Acts & Regulations:
Useful Forms:
ITR Forms & eFiling Utilities for AY 2024-25
CA's Referencer:
From the ICAI:
Legal Updates:
News Update:
RBI expands scope of co-lending pacts beyond priority-sector loans
Now, NPCI can revise transaction limits on UPI based on evolving user needs
Trump signals major tariff on pharma imports, Indian drugmakers could face impact
India weighs export support measures amid US tariff hike, say government sources
China hits back at US with 84% tariff after Trump admin imposes 104% levy
Banks told to push global trade settlement in Rupee
Upcoming Aadhaar app to replace need for physical card and photocopies
EPFO enables face authentication for UAN generation and activation
Concerned about tariff impact on growth more than inflation: RBI Governor
RBI MPC throws its trump cards: Why did Sanjay Malhotra-led panel cut rates and change its stance?
RBI MPC Meet: Key takeaways from governor Sanjay Malhotra’s address
US slaps 104% tariff on China after Beijing misses Trump's deadline
Tax-free interest on Post Office Savings Accounts under new tax regime
Govt announces 'One State, One RRB' implementation from May 1, 2025
FIEO seeks 5% interest subvention as high US tariffs delay export payments
Big four win big in M&As with deal lifecycle focus
Indian firms in FDI-ban sectors can issue bonus shares to existing NRIs
Sebi fines Rs 7L on Reliance Securities for flouting stock brokers' norms
Trump tariffs: Govt sets up working group to monitor possible import surge
India may tolerate weaker rupee if tariffs spur yuan decline, sources say
India Post launches KYC verification for mutual funds at your doorstep
RBI MPC meet begins April 7; rate cut of 25 bps likely amid soft inflation
New CPI series from February 2026 to include rural housing inflation
Corporate affairs ministry proposes changes to fast-track mergers
CBDT mandates PAN-Aadhaar linking for specific holders by 2025 end: Details
RBI Launches Verified WhatsApp Channel for Public Awareness
Sebi joins social media platform 'X'. Check ID and other details
Market regulator Sebi issues framework for return verification agency
India's fintech sector gets a governance boost with launch of India Fintech Foundation
CAs, taxpayers push back after Income Tax dept sends rebate notices
Big relief for EPF members: Faster withdrawals and bank account seeding without employer’s approval
CCI chief Ravneet Kaur given additional charge of NFRA chairperson
Press Release: SEBI launches “Document Number Verification System”
China hits back with 34% tariff on US goods after Trump's trade salvo
RBI maintains FPI investment caps in govt securities, corp bonds for FY26
New rule for nomination change in PPF, NSC, SCSS, all other post office account for free
UPS may be replicated to other stakeholders of NPS: Finance Secretary
Government auditor Ramann is new pension regulator
Trump's 26% tariff on Indian exports: Who gains and who takes the hit?
'Mixed bag, not setback': Govt analysing impact of 26% Trump tariffs
Donald Trump unveils sweeping tariffs on all imports: Here's the full list
ICAEW updates its Code of Ethics
KPMG report: AI in financial reporting and audit: Navigating the new era
‘Big Four’ firm Deloitte hardest hit consultancy firm by Elon Musk-led DOGE's saving spree
Deloitte plans US layoffs after Elon Musk’s DOGE cracks down on consulting contracts
Is gen AI really a SOX gamechanger?
Historic change to audit inspection reports announced by Canadian accounting watchdog
Exposure Drafts:
Draft to amend "The Companies (Compromises, Arrangements and Amalgamations) Rules, 2016"
[Last date for Comments: May 5, 2025]
IBBI invites suggestions on all Regulations notified under the Insolvency and Bankruptcy Code, 2016 with an aim to simplify, ease and reduce cost of compliance
[Last date for Comments: June 30, 2025]
Consultation Paper on Framework for Transition Bonds
[Last date for Comments: April 29, 2025]
Regulation of Foreign Trade under Foreign Exchange Management Act (FEMA), 1999 – Draft Regulations and Directions
[Last date for Comments: April 30, 2025]
Consultation paper on Investor Charter for KYC (Know Your Client) Registration Agencies (KRAs)
[Last date for Comments: April 25, 2025]
Acts & Regulations:
SEBI (Credit Rating Agencies) Regulations, 1999 [Updated upto March 21, 2025]
SEBI (Intermediaries) Regulations, 2008 [Updated upto March 21, 2025]
SEBI (Prohibition of Insider Trading) Regulations 2015 [Updated upto March 11, 2025]
Useful Forms:
ITR Forms & eFiling Utilities for AY 2024-25:
The following forms have been added:
The following ITR eFiling Utilities have been updated:
ITR 2 - Excel Utility
ITR 3 - Excel Utility
ITR 6 - Excel Utility
CA's Referencer:
NFRA Auditor-Audit Committee Interaction Series 2 -
Audit Strategy and Planning
[Published on March 28, 2025]
From the ICAI:
Booklet For ICAI Members on Bank Audit UDIN [Issued in April 2025]
Legal Updates:
Last date notified for 'Vivad se Vishwas' Scheme [Notification No.32]
No TDS u/s 194EE for deposits made u/s 80CCA (NSS or deferred annuity plan) [Notification No.27]
Regarding PAN-Aadhar linking for PAN obtained based on Aadhar enrollment ID [Notification No.26]
The Income-tax (ninth Amendment) Rules, 2025 - Insertion of Rule 114(5A) [Notification No.25]
[Revised] Advisory on Case Insensitivity in IRN Generation
Advisory on Case Sensitivity in IRN Generation
IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2025
IBBI (Insolvency Professionals) (Amendment) Regulations, 2025
Standing Liquidity Facility for Primary Dealers
Penal Interest on shortfall in CRR and SLR requirements-Change in Bank Rate
Liquidity Adjustment Facility - Change in rates
Review of Regulatory Guidelines – Withdrawal of Circulars
Limits for investment in debt and sale of Credit Default Swaps by Foreign Portfolio Investors (FPIs)
Transition to IFSCA (Fund Management) Regulations, 2025
Amendment to the ‘Framework for Ship Leasing’ and relevant circulars
Direction for all Regulated Entities
Revision in reporting formats for Fund Management Entities in IFSC
Fee structure for Payment System Operators/ Applicants desirous to setup an PSO in IFSC
Standardized format for System and Network audit report of Market Infrastructure Institutions(MIIs)
Recognition and operationalization of Past Risk and Return Verification Agency (PaRRVA)
SEBI (Infrastructure Investment Trusts) (Amendment) Regulations, 2025
Amendment in Appendix 4B of Handbook of Procedures, 2023 [Public Notice No.1]
Seeks to amend entry 515C of notification 50/2017-Customs [Notification No.23]
Applicability of SCOMET on Polyethylene Glycol CAS No. 25322-68-3 [Instruction No.3]
Re-assignment of appeals pending in Nagpur Zone [Order No.02/2025]
Re-assignment of appeals pending in Nagpur Zone [Order No. 01/2025]
