caalley logo

The alley for Indian Chartered Accountants

Weekly Newsletter - March 19, 2025

Go to Newsletter Archives

Latest additions to CAalley:

News Update:

Indian News

International News

Acts & Regulations:

RBI Master Direction

Useful Forms:

Income Tax Return Forms & Utilities for AY 2024-25

CA's Referencer:

CBDT

Legal Updates:

Income Tax

GST

IBBI

RBI

SEBI

IFSCA

IRDAI

DGFT

Customs

 


  

News Update:

Indian News:

Irdai adds more members from diverse sectors to its advisory committee

Life after Bajaj: Allianz fast tracks plans of new alliance with Jio Financial

RBI 'passively' absorbing dollar inflows over past sessions, say traders

NPCI's international arm partners with Singapore firm to expand UPI

Gratuity payment: Quitting your job before 5 years? You can still get gratuity; know how

Sebi clears Korean major LG’s mega IPO

PhysicsWallah files draft papers for Rs 4,600 crore IPO

Sebi slaps ₹ 20 lakh penalty on 4 entities for indulging in non-genuine trades

CBDT invites stakeholders' input for drafting I-T rules and related forms

Taxpayer must prove land's agricultural status for capital gains relief: HC

RBI, Bank of Mauritius sign pact to use local currencies in bilateral trade

CCI raids ad giants GroupM, Dentsu and broadcasters body over price collusion: Sources say

CBDT permits tax offence settlement through compounding under revised rules

NPCI looking to stop cons ‘pulling’ a fast one via UPI

Perform or perish: RBI Guv Sanjay Malhotra to banks on customer service

Over 4.68 lakh taxpayers filed ITR for income over ₹1 crore till Feb 28, shows latest data

Daily wage worker gets Rs 22.86 lakh GST notice in identity theft case

Banks wrote off bad loans worth Rs 16.35 trillion in last 10 years: Govt

Bank operations likely to take a hit on March 24th, 25th as union calls for a protest

Govt to bring Digital Competition Bill after due process: Harsh Malhotra

New India Bank case: Accused surrenders before EOW; six arrested so far

CBDT clarifies exemptions from principal purpose test in double taxation avoidance agreements

After popcorn, now turn of donuts to get afflicted by 'GSTitis'

New TDS rules from April 1, 2025

Income Tax Bill: Lok Sabha panel weighs expanding 'accountant' definition

ICAI may review IndusInd Bank's financials amid recent discrepancies

Amid IndusInd fallout, RBI examines derivatives exposures of some banks

ED files plaint against 24 in Rs 2,467 crore credit society fraud case

  

International News:

PCAOB Sanctions Audit Partner for Multiple Audit Failures in Consecutive Audits and Violation of Partner Rotation Requirements

KPMG global AI in finance report

PCAOB Sanctions PwC Singapore for Violations of PCAOB Rules and Quality Control Standards

PCAOB Sanctions Nine KPMG Global Network Firms for Violations of PCAOB Rules and Standards, Including Quality Control


Acts & Regulations:

RBI Master Direction:

Master Direction – Export of Goods and Services (Updated as on March 17, 2025)


Useful Forms:

Income Tax Return Forms & Utilities for AY 2024-25:

ITR 3 - Excel Utility has been updated


CA's Referencer:

CBDT:

CBDT Guide for Departmental Officers:
Assessment of Charitable / Religious Trusts and Institutions
[Version 1.1]


Legal Updates:

Income Tax:

FAQs on Guidelines for Compounding of Offences under the Income-Tax Act, 1961 dated 17.10.2024 [Circular No.4]

CBDT issues clarification on Circular 01/2025 [Press Release]

  

GST:

Seeks to amend notification No. 02/2017-Central Tax [CGST Notification No.10]

Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Uttar Pradesh

  

IBBI:

Disclosure of information relating to carry forward of losses in Information Memorandum (IM)

  

RBI:

Asian Clearing Union (ACU) Mechanism – Indo-Maldives trade

Annual Closing of Government Accounts – Transactions of Central / State Governments – Special Measures for the Current Financial Year (2024-25)

  

SEBI:

Harnessing DigiLocker as a Digital Public Infrastructure for reducing Unclaimed Assets in the Indian Securities Market

Framework on Social Stock Exchange (SSE)

SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2025

  

IFSCA:

Corrigendum to IFSCA (Registration of Factors and Registration of Assignment of Receivables) Regulations, 2024

  

IRDAI:

Servicing to the policyholders – Special Measure for the current Financial Year 2024-25

  

DGFT:

Amendment in import policy condition of Urea [Exim Code 31021010] in the ITC (HS) 2022, Schedule – I (Import Policy) [Notification No.65]

  

Customs:

The Customs (Administration of Rules of Origin under Trade Agreements) Amendment Rules, 2025 [Notification No.14(NT)]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.13(NT)]

Seeks to impose provisional ADD on Soft Ferrite Cores from China PR [Notification No.4(ADD)]

Seeks to impose Anti-dumping duty on Vaccum Flasks from China PR [Notification No.3(ADD)]

Seeks to impose provisional ADD on Aluminium Foil upto 80 microns, excluding Aluminium Foil below 5.5 micron for non-capacitor application from China PR [Notification No.2(ADD)]


  

  

Read more on:
Don't miss an update!
Subscribe to our email newsletter