Weekly Newsletter - June 26, 2024
Latest additions to CAalley:
News Update:
Useful Forms:
Income Tax Return eFiling Utilities
Acts & Regulations:
Exposure Draft:
International Content:
Legal Updates:
News Update:
General insurance sector gets Rs 18,000 crore GST bonanza
Makeover likely to give faceless I-T assessment a friendlier face
Waiver from income tax demand notice: How to know if it got extinguished or not?
Banks seek clarification on RBI's credit card network choice guidelines
Sebi revises norms for exchanges
Banks in a GST fix over RBI's directive to levy penal charges
MP ministers to now pay Income Tax as cabinet revokes 52-year-old rule
Sebi weighs tighter checks for stocks at F&O entry gate
Beware... 800 online financial frauds a day
Quant Mutual Fund faces Sebi probe in front-running case, issues clarification
Demerger norm for CA firms to be relaxed
India, Bangladesh decides to boost Himalayan-Bay of Bengal connectivity
Mumbai: ED seizes Rs 37-cr worth deposits, cash in Ponzi case
ICAI, MCA secretary discuss road map to create big Indian companies
GST Council's tax norm tweaks may ease burden on general insurers
DGFT, Revenue dept working on dedicated hubs to boost e-commerce exports
Taxpayers can now amend sales return form GSTR-1 before GST payment
No GST on hostels, rail platform ticket, waiting room, ESOPs
New GST era set to start with end of anti-profiteering clause
GST Council waives interest, penalty on tax demands between FY18 and FY20
Recommendations of 53rd GST Council meeting [Press Release issued by Ministry of Finance]
RBI revises priority sector lending norms
PFRDA to allow subscribers to keep 50% investment in equity upto 45 yrs age
IBBI to strengthen creditors’ rights on personal guarantors
GST rate rationalisation panel reconstituted, Bihar dy CM named convenor
NBFCs need to focus on compliance, risk and liquidity, says RBI ED R Lakshmi Kanth Rao
Millionaires on the move: Where are the world's rich migrating to in 2024?
Sebi tightens norms for IPO price discovery to curb manipulation
Sebi issues guidelines for system audit of professional clearing members
Sebi confirms interim direction; bans JM Financial from managing debt public issues till Mar 2025
IRDAI bars unit-linked policies from being advertised as investment product
IBBI proposes amendments to insolvency rules; seeks public comments
Corporate bond ticket size slashed: What does it mean for retail investors?
Growth is important, but not at cost of unacceptable risks: RBI governor
Centre seeks exemption for sovereign funds from RBI's AIF rules, sources say
US inheritance tax threatens HNI investors: Can GIFT City be a solution?
Failure to Keep Pace with Technology is Biggest Risk for Accounting Pros
Canadian Audit Firm Fined $60,000 By the PCAOB for Quality Control Failures
PCAOB Busts Two Audit Firms for Not Complying With Reporting Rules
[US] Auditors Pan Bid to Report Their Own Financials as Too Rigid
Useful Forms:
Schema have changed for the following Income Tax eFiling Utilities:
Income Tax Return eFiling Utilities:
The following eFiling utilities have been updated:
ITR 3 Excel Utility
ITR 5 Excel Utility
New Releases:
ITR 7 FAQs
ITR 7 eFiling Utilty
The following MCA eForms have been updated:
Form GNL-1
Applications made to Registrar of Companies
Refund Form
Application for requesting refund of fees paid
Form 23D
Information by cost auditor to Central Government
Acts & Regulations:
Master Circular for Electronic Gold Receipts (EGRs)
Master Circular on Operations and Allied Matters of Insurers
Exposure Draft:
Proposed Revisions to IES 2, 3, and 4 – Sustainability
[Last date for Comments: July 24, 2024]
International Content:
ESRS–ISSB Standards - Interoperability Guidance
[Published jointly by IFRS Foundation and EFRAG]
Legal Updates:
Priority Sector Lending – Amendments to the Master Directions
SEBI (Prohibition of Insider Trading) (Second Amendment) Regulations, 2024
Statutory Committees at Market Infrastructure Institutions (MIIs)
System Audit of Professional Clearing Members (PCMs)
Amendment in Para 2.57 and 2.58 of the Handbook of Procedures [Public Notice No.13]
Enlistment of PSIAs in terms of Para 2.52 (c) of HBP 2023 in Appendix-2G [Public Notice No.11]
Launch of Exchange rate Automation Module (ERAM) [Circular No.7]
MOOWR- Transfer of Goods from one Section 65 Unit to another [Instruction No.16]
Exchange Rate Notification No. 45/2024-Cus (NT) dated 20.06.2024 [Notification No.45(NT)]
