Weekly Newsletter - February 12, 2025
Latest additions to CAalley:
News Update:
Exposure Drafts:
FAQs:
Acts & Regulations:
Useful Forms:
From the ICAI:
International Content:
Legal Updates:
News Update:
Income Tax Calculator - New Regime
I-T dept launches calculator for information about new tax regime
Income Tax Bill 2025: Deductions on salaries, pension & gratuity explained
NFRA must separate audit review and disciplinary roles: Experts
ICAI Central Council gives nod for ICAI International ADR centre rollout, says outgoing Prez Agarwal
When will new income tax bill likely to come into effect?
New Income Tax Bill 2025 proposes 'tax year' concept, easier terminologies
Income-Tax Bill, 2025 to be tabled in Parl: New tax slabs, reforms & more
New Income Tax Bill to have 622 pages, almost half of the existing I-T Act
Min panel may propose 5% GST with ITC benefit on term plans
No need to wait for IT benefit after winning case
FM hints at more boosters for economy
Sebi proposes new framework to handle unclaimed funds, securities
Sebi bans 'pied piper' company with zero revenue, Rs 5,500 crore valuation
Tax officers told to give relief to businesses on GST interest, penalty
Does GST apply to pre-paid gift vouchers and cards? Know what the rule says
'Not at all': FM Sitharaman dismisses GST rise concerns
States to decide tax on lottery, not Centre: Supreme Court
India may cut tariffs on 30 items imported from US to prevent higher reciprocal tariffs: Nomura
What taxpayers want from Modi government’s latest Income Tax Act - KPMG survey reveals
Digitisation does not mean deregulation: CEA Nageswaran
Insurers seek clarity on 10% hike cap for senior health premiums
Just 10 months after listing, Sebi bars SME company from markets over financial irregularities
Cryptocurrency exchange WazirX completes asset restructuring on platform
NFRA weighs options after Delhi HC junks notices to auditors in IL&FS audit case
Link Aadhaar and activate UAN by February 15 to secure your EPFO benefits
GST evasion of Rs 1.88 trn detected by CGST officers during April-Dec 2024
Delhi HC quashes NFRA’s 11 show-cause notices against CAs, audit firms
Action against banks, NBFCs if they violate gold auction norms: Sitharaman
1.2 million ITR filers for FY 2023-24 have not got refund: How to fix issue
India sets up EFTA desk to promote trade, investment, biz facilitation
Sebi mulls changes to compliance report format, auditors' appointment rules
Sops in works for MSMEs' green journey
Taxonomy for climate finance should be ready in 6 months: DEA secretary
Govt looking at procedural easing to further promote FDI, says official
New I-T bill may be introduced in House on Tuesday
Delhi HC backs NFRA's powers but questions it on 'division of functions'
RBI will allow ample time for implementing changes regarding ECL, LCR: Guv
Sebi bans 'she wolf' of stock market YouTuber in finfluencer crackdown
RBI defers proposed LCR norms implementation till at least March 31, 2026
New income-tax law explained: No new taxes, simplified for common man
Kia challenges $14 million tax demand by India over trade treaty benefits
Sebi slaps Rs 34 cr fine on Brightcom Group, promoters for misrepresenting financials
Delhi court summons ED director over failure to provide documents in ₹88-crore SEBI fraud case
Bank unions give 2-day strike call beginning March 24
Sebi-registered non-bank brokers can directly access NDS-OM, says RBI
RBI allows 156 vostro accounts with 26 banks for rupee trade settlement
RBI announces to add bond derivatives to investors' hedging toolkit
RBI to delay higher digital deposit buffer for banks, governor says
RBI to introduce 'bank.in' and 'fin.in' domains to enhance payment security
RBI introduces extra security for international online payments with AFA
RBI will implement major regulations in phased manner, says Governor
RBI MPC cuts repo rate by 25 bps to 6.25%, continues with 'neutral' stance
Income tax bill won't raise tax or compliance load: Finance secretary Tuhin Kanta Pandey
EPFO settled record 5 crore claims worth Rs 2 lakh crore in FY25: Govt
Sebi’s pitch for combo products may work for small investors
Grant Thornton arm probing govt fund misuse at Assocham
New I-T bill not to have provisos; may come up in Cabinet on Friday
RBI directs NBFCs to disclose maximum loan charges, seek board approval
New RBI Governor Sanjay Malhotra expected to begin interest rate cuts
NPCI chief advocates for stronger legal systems to deter cyber frauds
Here're the foreign companies embroiled in tax disputes with govt
IBBI moots two-stage approval process to speed up rescue of bankrupt firms
IBBI revises insolvency rules to support homebuyers in resolution process
IBBI proposes coordinated insolvency resolution for interconnected entities
GST authorities clamp down on IndiGo with Rs 115.86 crore penalty
Ready to keep key rates unchanged for now on high inflation: Fed's Powell
In detailed report, PCAOB finds deficiencies in half of KPMG Canada audits inspected
AICPA’s Auditing Board Plans to Issue 4 Standard-Setting Proposals in 2025
Why every accounting firm should think like a CFO
The Institute of Internal Auditors Releases the Cybersecurity Topical Requirement
Bank of England cuts rates to 4.5%, sees higher inflation, weaker growth
PCAOB warns audit firms about using 'specialists'
Exposure Drafts:
Draft "The MCA, SFIO, Prosecutor and Senior Prosecutor, Recruitment Rules, 2024
[Last date for Comments: March 7, 2025]
Discussion Paper on streamlining processes under the Code
[Last date for Comments: February 25, 2025]
Draft Circular - Additional Factor of Authentication (AFA) for cross-border Card Not Present (CNP) transactions –
[Last date for Comments: March 10, 2025]
Margin obligations to be given by way of Pledge / re-pledge in the Depository system
[Last date for Comments: March 4, 2025]
Consultation Paper on Treatment of unclaimed funds and securities of clients lying with Trading Members
[Last date for Comments: March 4, 2025]
Consultation Paper on Advance Fee to be charged by Investment Advisers and Research Analysts
[Last date for Comments: February 27, 2025]
Consultation Paper on aspects relating to Secretarial Compliance Report, Appointment of Auditors and Related Party Transactions of a Listed Entity
[Last date for Comments: February 28, 2025]
Consultation Paper on review of Regulation 17 (a) of SEBI (AIF) Regulations, 2012, with the objective of Ease of Doing Business
[Last date for Comments: February 28, 2025]
Consultation Paper on Draft Circular on Extension of automated implementation of trading window closure to Immediate Relatives of Designated Persons
[Last date for Comments: February 28, 2025]
Small and medium-sized enterprises market study - Invitation to comment
[Last date for Comments: April 25, 2025]
FAQs:
Acts & Regulations:
Master Direction - Reserve Bank of India (Access Criteria for NDS-OM) Directions, 2025
Useful Forms:
From the ICAI:
ICAI (Merger and Demerger of CA Firms) Guidelines, 2024
International Content:
Audit Focus Series
Audit Committee Communications
[December 2024]
Legal Updates:
The Income-tax (Fourth Amendment) Rules, 2025 - Amended Form 49C [Notification No.14]
The Income-tax (Third Amendment) Rules, 2025 - Amendment to Rule 2F [Notification No.13]
Advisory on E-Way Bill Generation for Goods under chapter 71
The Companies (Prospectus and Allotment of Securities) Amendment Rules, 2025
All Agency Banks to remain open for public on March 31, 2025 (Monday)
Standing Liquidity Facility for Primary Dealers
Liquidity Adjustment Facility - Change in rates a
Reconstitution of Inter-Disciplinary Standing Committee on Cyber Security
Amendment in Export Policy of Raw Human Hair [Notification No.59]
