Weekly Newsletter - May 1, 2024
Latest additions to CAalley:
News Update:
Exposure Drafts:
Useful Forms:
Acts & Regulations:
IFSCA Acts / Regulations & FAQs
Legal Updates:
News Update:
RBI proposes to bring NBFCs, co-op banks under operational risk norms
NFRA penalises 3 auditors in Reliance Home Finance case
Sebi allows NRIs to own up to 100% in global funds at the GIFT City
Sebi looks to cut corporate bonds' face value to boost retail participation
Gujarat High Court rules mango pulp attracts 12% GST since July 2017
Sebi board takes measures to curb fraudulent trades in mutual funds
ICAI suggests tax incentives to encourage skill development, green projects
4 ways banks are overcharging borrowers on loan interest rates, as per RBI
ICAI order on EY India affiliates may speed up notification of norms
Sebi asks AIFs to report PPM changes directly to reduce compliance cost
RBI launches two key surveys to get inputs for upcoming monetary policy
CBIC develops common bank audit plan for central, state GST officers
Patanjali Group companies face GST heat, receives show-cause notices
Indian multinationals have to pay 15% global minimum tax in Europe
FinMin studying HC order on PSBs' look out circulars for wilful defaulters
ICAI lens on big four affiliates over their association with global entities
ICAI charges 3 EY India affiliates with professional misconduct
2000 ghost customers, a fake bank account: ₹150 cr vehicle load fraud in Mizoram
Centre may allow companies a bigger CSR canvas to paint on
No Service Tax liability for BookMyShow on transactions with credit card companies
NFRA debars auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
Petitions pile up as GST notices come after 3 years of returns filing
RBI provides road map for SFBs' move to universal banks
Sebi allows AIFs to pledge shares in companies that invest in infra sector
RBI releases draft guidelines for web aggregators of loan products
NFRA slaps Rs 5 lakh penalty on audit firm for lapses in Vikas WSP audit case
Bombay HC rules banks can't issue Look Out Circulars against defaulters
Tax dept extends deadline for charitable trusts' registration till June 30
RBI plans curbs on suspect bank accounts to fight cyber fraud: Report
Kotak Mahindra case: Indian banks caught between growth targets and an unforgiving regulator
CBDT gives relief in cases where PAN, Aadhaar aren't linked
New rules for aggregation of domestic CA firms in three months: ICAI
RBI flags unauthorised forex entities offering exorbitant returns
HC: Can’t cut compensation for not wearing helmet if injuries multiple
8 Characteristics of a Well-Designed Root Cause Analysis Process, According to the PCAOB
PCAOB recommends root cause analysis
ISSB releases digital sustainability taxonomy
Proposed PCAOB rule risks turning auditors into legal watchdogs
Exposure Drafts:
Exposure Draft - Guidance Note on Reports on Audit under Section 12A/10(23C) of the Income-tax Act,1961
[Last date for comments: May 29, 2024]
Digital Lending – Transparency in Aggregation of Loan Products from Multiple Lenders
[Last date for Comments: May 31, 2024]
Useful Forms:
ITR 6 Excel Utility has been released and uploaded
Updated: Common offline utility for Form 3CA-3CD and 3CB-3CD
Following MCA eForms have been updated as on April 30, 2024
Form MGT-15
Form for filing Report on Annual General Meeting
Form-23AC
Filing balance sheet and other documents with the Registrar 2(a)
Form-23ACA
Filing Profit and Loss account and other documents with the Registrar
Form-23B
Information by auditor to Registrar
Following MCA eForms have been updated as on April 24, 2024
Form ADT-3
Notice of Resignation by the Auditor
Form MGT-7
Form for filing annual return by a company
Acts & Regulations:
IFSCA Acts / Regulations & FAQs:
Master Circular - Bank Finance to Non-Banking Financial Companies (NBFCs)
Legal Updates:
Amendment of Notification dated 06.09.2018 raising the pecuniary jurisdiction of DRT
Nomination for Mutual Fund unitholders – exemption for jointly held folios
Securities and Exchange Board of India (Investment Advisers) (Amendment) Regulations, 2024
Securities and Exchange Board of India (Research Analysts) (Amendment) Regulations, 2024
SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2024
Ease of Doing Business: Text on Contract Note with respect to Fit and Proper status of shareholders
Fair Practices Code for Lenders – Charging of Interest
Voluntary transition of Small Finance Banks to Universal Banks
Limits for investment in debt and sale of Credit Default Swaps by Foreign Portfolio Investors (FPIs)
Export of 2,000 MT of White Onion under HS Code 07031019 [Notification No.9]
