Weekly Newsletter - September 27, 2023
Latest additions to CAalley:
News Update:
Useful Forms:
Exposure Draft:
Acts & Regulations:
Legal Updates:
News Update:
Not disclosing foreign shares, investments, assets in your ITR can lead to penalty of Rs 10 lakh
Dream11 challenges ₹40,000 Cr GST evasion notice in Bombay High Court: Report
Centre extends RoDTEP scheme till June 30 amid faltering exports
Nominee rule changed for trading accounts; demat account nomination deadline extended
52nd meeting of GST Council to be held on October 7 at Vigyan Bhawan
CBDT extends safe harbour option to convertible preference shares
DGGI raises Rs 55,000-crore tax demand from Dream11, other online gaming companies
Income-tax appellate tribunal relief for TCS over use of 'Tata' brand name
FCRA registered NGOs will have to give details of assets created using foreign funds
Fraud tag on small trades: Sebi moves SC
NFRA says biggest focus is to ensure that auditors do their job properly
Banks must not classify customer complaints as queries, says RBI
RBI imposes monetary penalty on SBI, Punjab & Sind Bank and Indian Bank
RBI not comfortable with NPAs in UCBs, asks lenders to focus on governance
RBI found excessive dominance by 1-2 board members even in banks: Guv Das
NSE on its way to extend trading hours for F&O, awaiting Sebi nod
RBI may let wilful defaulters shed label after settlement
Govt considers financial creditor status for insurers issuing surety bond
PCAOB offers forum for auditors; SEC releases several updates
IESBA revises ethics handbook for accountants
Respond to intimation of past tax demands for faster refund: I-T dept
Creditors get more time to file insolvency claims
Govt to make IT hardware import authorisation process online, seeks data
Alleged GST evasion by online gaming companies seen at nearly Rs 31,000 crore
SEBI eases norms for large corporates tapping debt market
RBI proposes lenders identify 'wilful defaulters' within six months
Liquidity deficit in banks hits ₹1.5L crore
India regulator firms 'corporate group' definition amid offshore funds scrutiny
Wealthy individuals get I-T summons over non-resident status
Sebi slaps Rs 6 cr fine on DHFL's former promoters for disclosure lapses
200 taxmen, 28 locations: I-T raids 5 realtors, finds 'Rs 400cr tax evasion'
75% of companies unprepared for coming ESG audits: KPMG
PCAOB fines BDO USA $2M over audit violations
KPMG could face ‘record’ fines over Carillion audits
US Federal Reserve leaves key interest rate unchanged, sees hike by year-end
FASB weighs software capitalization threshold
US Federal Reserve leaves key interest rate unchanged, sees hike by year-end
FASB weighs software capitalization threshold
UK risks losing its global reputation for best practice in corporate governance, ICAEW warns
Useful Forms:
ITR eFiling Utilities have been updated
Updated: Common Offline Utilities for filing Statutory Income-tax Form 3CA-3CD & 3CB-3CD
MCA eForms [Updated as on September 27, 2023]
Exposure Draft:
Draft Master Direction on Treatment of Wilful Defaulters and Large Defaulters
[Last date for Comments: October 31, 2023]
Acts & Regulations:
Master Circular for Merchant Bankers [Issued on September 26, 2023]
Legal Updates:
Classes of NBFCs u/s 43B(da) notified [Notification No.80]
Classes of NBFCs u/s 43D notified [Notification No.79]
Advisory: Temporary /Short Period Pause in e-Invoice Auto Population into GSTR-1
Display of information - Secured assets possessed under the SARFAESI Act, 2002
Data Quality Index for Commercial and Microfinance Segments by Credit Information Companies
SEBI (Listing Obligations and Disclosure Requirements) (Fourth Amendment) Regulations, 2023
Extension of RoDTEP scheme for exports made from 01.10.2023 [Notification No.33]
Exchange Rate Notification dated 21.09.2023 [Notification No.68(NT)]