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The alley for Indian Chartered Accountants

Weekly Newsletter - May 29, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

ICAI Exposure Draft

IFSCA Draft

SEBI Drafts

Acts & Regulations:

SEBI Master Circular

Useful Forms:

MCA eForms

Reference Section:

CA's Referencer

Legal Updates:

Income Tax

GST

IFSCA

RBI

SEBI

IRDAI

DGFT

Customs

  


  

News Update:

Indian News:

HDFC to stop SMS alerts for UPI payments below Rs 100

Govt asks insurance companies to roll out daycare package for Ayush patients

RBI Governor Das launches portal for online application, approval

Sebi allows privately placed InvITs to issue subordinate units

MCA working on developing SOPs for FTA strategy, trade negotiation

Unable to invest in MF due to inoperative PAN?: Here is a good news for you

NFRA unrelenting, to inspect top auditors again

SEZ unit is not liable to pay GST under reverse charge: Authority for Advance Ruling

Link PAN with Aadhaar by May 31 to avoid higher TDS deduction: I-T dept

A new weapon against online payment frauds

RBI's notification on partly paid AIF units puts industry in a bind

Sebi reduces turnover requirement for agri commodity options to Rs 100 cr

GST to be paid by telcos along with instalments towards spectrum charges

GST scam: Noida cops nab Haryana man, number of arrests reaches 45

NFRA gets thumbs up from SC on retrospective jurisdiction

NFRA to engage with some big listed companies on audit compliance

Sebi cracks down on gaming apps involved in virtual trading

Now, relief from full disclosure won't be easy for pooled FPIs

Insurance brokers urge Irdai to allow them to appoint 'Bima Vahaks'

IRDAI reduces audit firm term to bolster audit quality

Income Tax department notifies cost inflation index for current fiscal

Sebi cracks the whip on finfluencers trying to manipulate IPOs

Soon, all health insurance claims will be processed via centralised platform NHCX

‘Daunting task to create Big 4-like audit firm out of India’

India mulls GST relief for foreign airlines; fitment committee to review

ITR filing 2024: Rent receipts and landlord's PAN mandatory for HRA claims

Sebi proposes relaxation in valuations of AIFs' investment portfolio

Sebi proposes measures to ease ESG disclosures by listed companies

'Right to practice profession not unrestricted,' SC upholds limits of tax audits for CAs

ED makes 5th arrest in Mumbai Income Tax refund fraud case

Consultations underway at MCA for expansion of audit firms in India

Mandatory scrutiny of ITR: Income tax dept reveals the criteria how the ITRs will be selected for the scrutiny

Sebi slaps Rs 11.90 cr fine on 19 entities for 'pump and dump' scheme

MCA fines LinkedIn India, Nadella, 8 others for companies law violations

Sebi amends rule to facilitate ease of doing biz for cos planning IPOs

 

International News:

OpenAI signs content agreement with WSJ parent News Corp to train AI models


Exposure Drafts:

ICAI Exposure Draft:

Exposure Draft - Proposed Merger & Demerger Guidelines
[Last date for comments: June 6, 2024] 

 

IFSCA Draft:

Seeking suggestions for review of IFSCA (Market Infrastructure Institutions) Regulations, 2021
[Last date for Comments: June 17, 2024] 
  

 

SEBI Drafts:

Consultation Paper on review of certain aspects of the framework for valuation of investment portfolio of AIFs
[Last date for Comments: June 13, 2024] 

Consultation Paper on the Recommendations of the Expert Committee for Facilitating Ease of Doing Business with respect to Business Responsibility and Sustainability Report (BRSR)
[Last date for Comments: June 12, 2024] 


Acts & Regulations:

SEBI Master Circular:

Master Circular for issue and listing of Non-convertible Securities, Securitised Debt Instruments, Security Receipts, Municipal Debt Securities and Commercial Paper
[Published on May 22, 2024]


Useful Forms:

MCA eForms:

The following eForms have been updated:

Form CRL-1
Information to the Registrar by company regarding the number of layers of subsidiaries

Form INC-22A
Active Company Tagging Identities and Verification (ACTIVE)

Form CFI(CSR)
Reply To Call for Information on CSR

Form A-XBRL
Form for filing XBRL document in respect of compliance report and other documents with the Central Government

Form-21A
Particulars of annual return for the company not having share capital

Form-23AC
Filing balance sheet and other documents with the Registrar 2(a)


Reference Section:

CA's Referencer:

Table for Cost of Inflation Index - Updated


Legal Updates:

Income Tax:

Cost of Inflation Index notified [Notification No.44]

 

GST:

Advisory on launch of E-Way Bill 2 Portal

 

IFSCA:

Report of the Working Group for the Development of Non-Resident Individual (both Indian as well as Foreign) Business and Ease of Registration

 

RBI:

Instructions on Money Changing Activities

Internal Review – Interim Recommendations – Withdrawal of Circulars

 

SEBI:

SEBI (Infrastructure Investment Trusts) (Amendment) Regulations, 2024

Standard Operating Procedure for handling of Stock Exchange outage and extension of trading hours thereof in Commodity Derivatives segment

Eligibility criteria for launching Options with Commodity Futures as underlying by Stock Exchanges having commodity derivative segments

Self Regulatory Organizations for Social Impact Assessors in the context of Social Stock Exchange (SSE)

Timelines for disclosures by Social Enterprises on Social Stock Exchange (“SSE”)

Enhancement of Dynamic Price Bands for scrips in the Derivatives segment

Norms for sharing of real time price data to third parties

Modification in Staggered Delivery Period in Commodity Futures Contracts

Audiovisual (AV) presentation of disclosures made in Public Issue Offer Documents

 

IRDAI:

Master Circular on Corporate Governance for Insurers, 2024

 

DGFT:

Abeyance of Public Notice No. 05/2024 dated 27.05.2024 [Trade Notice No.4]

Abeyance of Public Notice No. 05/2024 dated 27.05.2024 [Public Notice No.6]

Amendment in 4.59 of Handbook of Procedures, 2023 and modification in Standard Input Output Norms (SION) M- 1 to M-7 for export of jewellery [Public Notice No.5]

 

Customs:

Disposal of Unmanned Aircraft Systems (UAS)/Unmanned Aerial Vehicles Systems (UAV)/Remotely Piloted Aircraft Systems(RPAS)/ Drones [Circular No.5]


  

  

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