Weekly Newsletter - August 16, 2023
Latest additions to CAalley:
News Update:
Acts & Regulations:
Exposure Draft:
Useful Forms:
Reference Section:
From the ICAI:
Legal Updates:
News Update:
Gaming apps converting earnings to crypto, Rs 700 crore moved out of India, reveals GST probe
Striking a balance: Adani Ports-Deloitte incident puts focus on auditing practices
Online money gaming firms face massive Rs 45,000 crore tax demand after 28% GST levy
MSMEs blame litigation tangle, cost for being a segment killer
I-T officers must follow ITAT order, return Rs 16L seized from lawyer: HC
AI to help chartered accountants deliver high quality audits: ICAI Prez
Sebi disgorgement orders hit SAT wall
Probe on insurers over, Income Tax department finds alleged tax evasion of Rs 15,000 cr
Companies pay GST twice as suppliers err in filings
MCA allows 1,270 requests from CA, CS bodies to merge user IDs
All employees have a 'right to vent': Madras high court
Sebi to focus on tech; plans Geotagging solution to boost enforcement activities
RBI selects McKinsey, Accenture to use AI to improve regulatory supervision
Sebi levies Rs 60 lakh fine on individual for flouting regulatory norms
Sebi simplifies KYC process, rationalises risk management framework at KRAs
Investors from Mauritius, Singapore, Cyprus under Taxman’s lens for CCD gains
GST registration to be mandatory for gaming operators based overseas
Adani Ports auditor Deloitte to resign following differences over recording of transactions
Your casual digital transaction could lead to frozen bank account, police investigation. Read how
Banks cautious on lending to small businesses despite high demand, low NPAs
Sebi looks to raise threshold of outstanding long-term borrowings for large corporates
Sebi clarifies on 120 untraceable entities in 'difficult to recover' category
Cabinet clears changes to GST laws to levy 28% GST on online gaming, casinos & horse race clubs
No pin needed: RBI raises payment limit on UPI lite from Rs 200 to Rs 500
More clarity on EMIs, tenor: Borrowers can soon switch between floating, fixed loans
Banks to maintain 10% additional CRR from Aug 12 as temporary measure: RBI
You may soon be able to make UPI payments by talking or just tapping phone
RBI Policy: With unanimous vote, MPC keeps repo rate unchanged at 6.5%
SEBI sends 'warning letter' to Infosys on updation delay
Govt mulls options to impose carbon tax on some imports
Sebi halves listing timeline to 3 days post IPO closure
Sebi mulls guidelines for managing unclaimed funds of clients
Australia: Big four name-and-shame audit quality reprieve criticised
Why All Carbon Credits Aren’t Created Equal
PCAOB hits multiple firms with sanctions
PCAOB fines K G Somani over audit quality lapses
Why insider trading is so difficult to stop
Acts & Regulations:
Master Circular for Online Resolution of Disputes in the Indian Securities Market
[Updated as on August 11, 2023]
Exposure Draft:
Consultation Paper on Review of Voluntary Delisting norms under SEBI (Delisting of Equity Shares) Regulations, 2021
[Last date for Comments: September 4, 2023]
Consultation paper on review of framework for borrowings by Large Corporates
[Last date for Comments: August 31, 2023]
Useful Forms:
2 Income Tax Forms Updated and 1 New Added
Updated excel utitlity for ITR 6
Reference Section:
Quick Referencer for Tax Audit u/s 44AB of The Income Tax Act, 1961 (AY 2023-24)
[Issued in July 2023]
From the ICAI:
New Additions - Company Law Technical Guides
Legal Updates:
RBI Act, 1934 - Section 42(1A) - Requirement for maintaining additional CRR
Simplification of KYC process and rationalisation of Risk Management Framework at KRAs
Timeline for the Exit Option Window Period for Change in Control of AMC
Amendment in details of an authorized agency under Appendix 2E of FTP, 2023 [Public Notice No.27]
