Weekly Newsletter - October 9, 2024
Latest additions to CAalley:
News Update:
Exposure Draft:
Useful Forms:
From the ICAI:
CA's Referencer:
Legal Updates:
News Update:
Man declares income of Rs 9.6k, pays tax on Rs 43.5L after US earnings added
Sebi proposes new rules for sharing for financial market data for research and analysis
Growth at any cost approach of some NBFCs would be counterproductive: Das
RBI MPC changes stance to neutral; keeps repo rate unchanged at 6.5%
NFRA aims to adopt best global accounting, auditing standards: Chairman
Sebi specifies checks for AIFs to curb circumvention and ever-greening
Consumers can port their health insurance midway: Here is what they must do
India reduces arbitration time for foreign investors in UAE agreement
Sebi extends timeline for social enterprises to submit annual disclosures
Tax dept invites public inputs for I-T Act review to simplify provisions
RBI instructs banks to stop making aggressive bets against rupee: Report
India eases certain conditions for UAE in bilateral investment treaty: GTRI
India-UAE investment treaty implemented from Aug 31, 2024: FM Sitharaman
SFBs knock RBI door as credit-deposit ratio go over 90%
MTNL defaults on repayment of Rs 326cr, SBI declares it NPA
Govt extends term of RBI deputy governor Rao for another one year
CBIC orders immediate de-mapping of retired, transferred officers from GST portal
RBI says banks' group entities cannot be used to circumvent norms
SC lays down ‘functionality’ and ‘essentially’ test for Input Tax Credit eligibility
Supreme Court allows claiming input tax credit on construction expenses
NFRA circular warns against selective application of audit standards
Observed 'gross negligence and audit failure' in audits of GFS: NFRA
NFRA seeks to enforce scalable audit system
91% Indian CEOs want to link rewards, promotions to office attendance: KPMG
Sebi reduces trading lot size of privately placed InvITs to Rs 25 lakh
Big auditors now move away from non-audit work
Panel considers lower GST on several mass-use items
DGGI sends 300 notices to cos' top brass over input tax credit
Finance ministry releases new norms for handling delayed tax refund claims
Internal auditors say AI risks are the toughest
Clients expect auditors to use AI
Auditors play important role in responding to fraud risk: CAQ
What must-have AI skills do finance execs need? First, dig in
IFAC guide helps smaller firms monitor quality management systems
Exposure Draft:
Consultation Paper on Principles to Mitigate the Risk of Greenwashing in ESG Labelled Debt Securities in the IFSC
[Last date for Comments: October 25, 2024]
Draft Circular on Forms of Business and Prudential Regulation for Investments
[Last date for Comments: November 20, 2024]
Consultation paper on draft circular for “Policy for Sharing Data for the Purpose of Research /Analysis”
[Last date for Comments: October 29, 2024]
Draft Circular for “Facilitation to SEBI registered Stock Brokers to access Negotiated Dealing System-Order Matching (NDS-OM) for trading in Government securities- Separate Business Units (SBU)”
[Last date for Comments: October 25, 2024]
Useful Forms:
The following ITR eFiling Utilities have been updated:
Common Offline Utility (ITR 1 to ITR 4) - MAC Utility
ITR 6 - MAC Utility
ITR 7 - MAC Utility
From the ICAI:
ICAI Publications: Internal Audit [New addition]
ICAI Publications: Valuation [New addition]
CA's Referencer:
Responsibilities of Principal Auditor and Other Auditors in Group Audits
Legal Updates:
The IEPFA (Form of Annual Statement of Accounts) Amendment Rules 2024
Appointment of Chairperson of IEPFA
Format for providing information by a Payment Service Provider
Specific due diligence of investors and investments of AIFs
Timelines for disclosures by Social Enterprises on Social Stock Exchange (“SSE”)
Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit
Due diligence in relation to non-resident guarantees availed by persons resident in India
Provision for Import/ Re-Import of 'Exhibits and Samples' [Trade Notice No.20]
Appointment of Common Adjudicating Authority i.r.o M/s. Penta Gold Limited [Notification No.65(NT)]
