Weekly Newsletter - August 30, 2023
Latest additions to CAalley:
News Update:
Reference Section:
International Content [New addition]
Useful Forms:
Exposure Drafts:
Legal Updates:
News Update:
ICAI’s forensic accounting and investigation standards to help combat financial irregularities
EPFO issues SOP for processing joint declaration for profile updation
Banks to set up portal with real-time information to handle digital frauds
GST on online games remains vexed issue despite Council blunting its impact
ICAI office bearer seeks permission to file complaint against Vice Chairman of key SRSB committee
Hindenburg case: Sebi probe faults Adani group on disclosure rules
Sebi notifies stricter delisting rules for non-convertible debt securities
After new directives, Income Tax department may reopen a large number of past cases
ITAT nixes additional tax demand on firm for deposits during demonetisation
If you submitted Form 60 instead of PAN earlier, Income Tax Dept now wants you to get a PAN
Six foreign tours companies under tax scanner
NFRA to list out frequent lapses to alert auditors, managements
Govt unlikely to infuse capital in PSU general insurers in FY24: Official
I-T dept unveils revamped website for enhanced taxpayer experience
Govt to take up with RBI penal charges imposed by bank
Centre considers raising retirement age for public sector bank heads, MDs
NFRA may approach SC over power to probe pre 2018 cases
NHRC wants Irdai to ensure insurers offer health products to disabled
SEBI to ease exit norms for PE/VC funds with illiquid assets in AIFs
EPFO holds talks with Ministry of Finance on reinvesting ETF money
Rates may rise if price spike spreads from food items: Shaktikanta Das
RBI governor Shaktikanta Das asks NBFCs to strengthen governance standards
Stricter disclosure norms for FPIs will come into effect from Nov 1: Sebi
Irdai lowers minimum capital need for foreign reinsurers to Rs 50 crore
No service tax on school bus, rules Appellate Tribunal
Govt extremely disappointed with Moody's report on India's economic outlook
Return excess income tax refund else you may get tax notice
ITC can't be claimed till seller pays tax: High court
Tax tribunal allows capital gain exemption in case of house purchase
RBI raises small value payment transaction limit in offline mode to Rs 500
What is a BRICS currency, and could one be adopted?
First time in 4 years, MFIs overtake banks in microlending with 40% share
CCI brings draft regulations for Settlement and Commitment scheme
PCAOB sanctions firm over auditor independence
China’s economic slump is sounding alarm bells across the world
China’s economic slump is sounding alarm bells across the world
Not yet clear rates are high enough to control inflation: Fed's Powell
FASB releases standard on joint ventures
Reference Section:
NFRA Circular: Statutory Auditors’ Responsibilities in relation to Fraud in a Company
NFRA: Audit Quality Inspection Guidelines
Non-Accrual of interest on borrowings by the companies in violation of Indian Accounting Standards
International Financial Reporting Standards (IFRS)
IFRS Sustainability Disclosure Standards
Useful Forms:
Exposure Drafts:
Draft ‘The Competition Commission of India (Settlement) Regulations, 2023’
[Last date for Comments: September 13, 2023]
Draft ‘The Competition Commission of India (Commitment) Regulations, 2023’
[Last date for Comments: September 13, 2023]
Exposure Draft for Customer Information Sheet / Know Your Policy
[Last date for Comments: September 13, 2023]
Consultation Paper on Flexibility in the framework on Social Stock Exchange (SSE)
[Last date for Comments: September 19, 2023]
Consultation Paper on mechanism for fee collection by SEBI registered Investment Advisers and Research Analysts
[Last date for Comments: September 15, 2023]
Consultation Paper on Association of SEBI Registered Intermediaries/Regulated Entities with Unregistered Entities (including Finfluencers)
[Last date for Comments: September 15, 2023]
Consultation Paper on permitting increased participation of NRIs and OCIs into SEBI registered FPIs based out of IFSCs in India and regulated by the IFSCA
[Last date for Comments: September 10, 2023]
Legal Updates:
Advisory: Mera Bill Mera Adhikar Scheme
Enhancing transaction limits for Small Value Digital Payments in Offline Mode
Guidelines for MIIs regarding Cyber security and Cyber resilience
SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 1994
SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2023
SEBI (Depositories and Participants) (Second Amendment) Regulations, 2023
Reconstitution Of Insurance Advisory Committee
IRDAI Reinsurance (Amendment) Regulation, 2023
Amendment in Export Policy of Non-Basmati Rice under HS Code 10063090 [Notification No.29]
Amendment in Registration Fees under Steel Import Monitoring System (SIMS) [Notification No.28]
Amendment of Export Policy of Food Supplements containing Botanicals [Trade Notice No.24]
Seeks to levy ADD pursuant to 1st SSR on Fishing Net [Notification No.8(ADD)]
Exchange Rate Notification No. 62/2023-Cus (NT) dated 25.08.2023 [Notification No.62(NT)]
