Weekly Newsletter - February 14, 2024
Latest additions to CAalley:
News Update:
Exposure Drafts:
From the ICAI:
CA's Referencer:
Legal Updates:
News Update:
RBI Governor asks bank CEOs to maintain vigil around risks build-up
Co-location case: Sebi rejects NSE’s settlement plea
Sebi cautions investors against unregistered entities promising assured returns
Salary earned by a 'non-resident' overseas cannot be taxed in India, tribunal rules
Government looking at component-linked incentive scheme for electronic manufacturing
Fin service providers must have regulatory nod for liquidation: IBBI
Irdai chairman asks insurance companies to underwrite disruptions
EY conducting forensic audit of Bandhan Bank loans worth ₹23,000 crore
IT ministry fears losing out to China, Vietnam in smartphone exports race
Real-time payment service between India and US banks soon? NPCI in talks for linking
Taxpayer successfully challenges I-T official’s denial of LTCGs on sale of shares
Sebi ups scrutiny of issue documents amid a rise in IPO in market: Reports
ICAI elects new President, Vice President
UPI payments launched in Sri Lanka, Mauritius to boost economic ties
SC issues notice to central govt on GST anti-profiteering provisions
Non-audit services: NFRA to crack down on Big 4, others
SAT may have to hear afresh many important cases
Investigation of tax evasion by WSP India in progress: IT Dept tells HC
Haryana: CGST official, CA arrested by ACB Karnal unit for graft
EPFO plans to set up actuary, hire more staff
CBIC cautions against fake GST summons, asks to check communications
ESIC extends benefits to superannuated insured persons with relaxed norms
EPFO recommends 8.25% interest rate on employees' provident fund for FY 2023-24
'RBI plans tokenisation of assets, bonds under wholesale CBDC pilot'
RBI raises ceiling on remuneration of non-executive directors to Rs 30 lakh
Insurance companies under IT scanner, likely to receive tax notices worth ₹25,000 crore: Report
RBI cancels Certificate of Registration of Three NBFCs
Elon Musk’s Tesla can apply for battery PLI sops: Heavy Industries Ministry
Aadhaar frauds: RBI ready with masterplan to curb Aadhaar-enabled payment system (AePS) scams
SEBI bars 15 guest experts of Zee Business channel for unlawful trading, fines them ₹7.41 crore
GST raids expose retail chain’s over Rs 100 crore tax evasion in Hyderabad
Latest EPFO rules: How to unblock inoperative EPF account, settle claims
IBC review proposed to speed up resolutions
ITAT upholds cap-gain exemption to Mauritius entity, for shares acquired prior to April 1, 2017
RBI proposes alternate authentication framework, streamlining in AePS
Sebi becomes stern grammarian: Companies asked to use simple language
RBI to introduce offline digital rupee transactions soon: Governor Das
RBI holds policy rates, stance unchanged over inflation concerns
Irdai proposes revising coverage across sectors to secure insurance for all
LS passes Finance Bill, completes exercise for interim budget 2024-25
EPFO mulls reinvesting 50% of ETF redemption proceeds in equity market
NPCI working on Digital Payments Score to scale up credit economy in India
Sebi mulls relaxation in timelines for FPIs' material change disclosures
PCAOB sanctions, bars 2 partners
CFOs harbor data quality worries ahead of AI push
IRS seeks more than $1B from collapsed SVB
Whistleblowers need not prove ‘retaliatory intent,’ SCOTUS holds
What Are the Consequences of Auditors Subject to Regulatory Enforcement Actions? Apparently Not Much
EY took on $700mn in debt for doomed ‘Project Everest’ spin-off plan
Exposure Drafts:
Consultation paper on the proposed International Financial Services Authority (Payments Regulatory Board) Regulations, 2024
[Last date for Comments: February 23, 2024]
Consultation Paper on Relaxation in Timelines for Disclosure of Material Changes by Foreign Portfolio Investors
[Last date for Comments: February 28, 2024]
Consultation Paper on framework for providing flexibility to FPIs in dealing with their securities post expiry of their registration
[Last date for Comments: February 28, 2024]
IRDAI(Protection of Policyholders’ Interests and Allied Matters of Insurers) Regulations, 2024
[Last date for Comments: March 4, 2024]
IRDAI (Bima Sugam - Insurance Electronic Marketplace) Regulations, 2024
[Last date for Comments: March 4, 2024]
IRDAI (Actuarial, Finance and Investment Functions of insurers) Regulations, 2024
[Last date for Comments: March 4, 2024]
IRDAI (Rural, Social Sector and Motor Third Party Obligations) Regulations, 2024
[Last date for Comments: February 27, 2024]
[Last date for Comments: Jun 5, 2024]
From the ICAI:
CA's Referencer:
Legal Updates:
DTAA with Samoa [Notification No.21]
Reporting Norms for Capital Market Intermediaries
Format and manner of seeking authorisation as Payment Service Provider
The Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2024
Reporting / Sharing of information in the Voluntary Liquidation process
Review of Fixed Remuneration granted to Non-Executive Directors (NEDs)
Participation of Indian Banks on India International Bullion Exchange IFSC Limited (IIBX)
Amendments in Para 4.36 of the Handbook of Procedures, 2023 [Public Notice No.40]
Addition of Mundra Port and ICD Garhi Harsaru for Import of new Vehicles [Notification No.59]
Corrigendum to Public Notice no. 28/2023 dated 18.08.2023
