CAalley Newsletter for the week ending on November 2, 2022
Latest additions to CAalley:
News:
From the ICAI:
Exposure Drafts:
Legal Updates:
News:
Sebi pegs dues worth Rs 67,228 crore as 'difficult to recover'
Missed inflation target, but acting early would have exerted costs: RBI Guv
RBI's retail e-rupee pilot to start this month itself: RBI governor
Not in a hurry to launch CBDC; have to proceed carefully: RBI Guv Das
Glitches in MCA portal: CAs, CS seek extension in annual filing deadline
Centre slashes windfall tax on domestic crude oil, increases on ATF export
ITR filing: CBDT proposes to introduce one common ITR form for all taxpayers; know details
DGCI To Reward Those Who Share Information About Tax Evaders
India seeks info from crypto exchanges as it mulls GST on asset class: report
Reserve Bank starts pilot digital currency program for select banks
SEBI slaps ₹21 cr fine on 52 entities in Religare Finvest fund diversion case
GST revenues cross ₹1.51 lakh crore in October
'If export proceeds not realised, you need to surrender RoDTEP benefit'
RBI Central Board reviews current economic situation
EPFO relaxes withdrawal of accumulations norms for EPS-95 subscribers
Pre-deposit to appeal under old excise, service tax laws to be only in cash: CBIC
Sebi issues guidelines to standardise usage of rating scales used by CRAs
First pilot of Digital Rupee to commence on Tuesday: RBI
Joint audit move faces resistance
The case for structural financial deglobalisation
Engage domain experts in probes into unregulated loan apps: Centre to states/UTs
Remove withdrawal restrictions on digital BSBD accounts payment: Report
For first time, RBI's rate-setting panel to discuss inflation report this week
Govt notifies rules for social media grievance appellate committees
‘Sebi develops algos to catch mkt manipulators’
RBI concerned over rising mis-selling, pricing plaints
Govt extends curbs on sugar exports till October 31, 2023
SEBI defers deadline for direct ETF transactions yet again
SEBI putting in place system to secure stock exchanges from cyberattacks
Start-ups under scrutiny for their accounting standards
RBI governor Shaktikanta Das cautions on backdoor entry in financial space
RBI reviewing regulation for governing non-core business of banks
Tax appellate tribunal asks CBIC to frame norms for tax recovery in insolvency cases
FinMin extends ITR deadline for companies till November 7
Deadline for filing TDS for non-salary transactions extended till Nov 30
Irdai sets up consultative committee to increase health insurance
Insurance regulator Irdai proposes changes to reinsurance regulations
Centre unlikely to infuse any capital into the PSBs in FY23: Report
Large auditors raise fresh objections to joint inspection proposal
Auditor exodus at embattled China property firms triggers governance concerns
A stringent patent rule is latest hurdle for India-UK free trade agreement
New carbon accounting standards crucial in matching changing climate investment landscape
IASB calls time on pensions, fair value disclosure project
Our Audits Sucked Because the Auditors Are Exhausted, Says Deloitte Australia
CFOs with a data-savvy eye improve compliance
IASB amends accounting standard for financial statement information
UK: BDO auditor fired for altering recordsdata earmarked for inspection
Cryptocurrency Tax Guide in the USA
India likely to start free trade pact negotiations with GCC next month
FASB seeks input on proposed changes to accounting for joint ventures
ECB raises interest rates again, cuts bank subsidies
The growing role of audit in ESG information integrity and assurance
Regulator Warns Hong Kong Companies About Auditor Resignations
Recognising the problems with your revenue recognition
SEC adopts bonus clawback rules
Companies Must Disclose Pollution Caused by External Suppliers, Global ESG Rulemaker Says
Statement on Listing Standards for Recovery of Erroneously Awarded Compensation
SEC Adopts Compensation Recovery Listing Standards and Disclosure Rules
IASB proposes narrow-scope amendments to IFRS 9, Financial Instruments
IAASB seeks comments on revised audit evidence standard
From the ICAI:
Guidance Note on Report Under Section 92E of The Income-Tax Act, 1961 (Transfer Pricing)
[Revised 2022]
Quality Review Board (QRB) Report on Audit Quality Review
Exposure Drafts:
Common Income Tax Return
[Last date for Comments: December 15, 2022]
Proposed Accounting Standards Update (ASU)
Business Combinations — Joint Venture Formations (Subtopic 805-60)
Recognition and Initial Measurement
[Last date for Comments: December 27, 2022]
Legal Updates:
Extension of due date for filing TDS Form 26Q [Circular No.21]
Extension for filing of GSTR-3B [No.21]
Extension of time for filing e-form DIR-3-KYC and web-form DIR-3-KYC-WEB without fee [Circular No.9]
Annual Compliance Certificate for Insolvency Professional Agencies
Standardisation of Rating Scales Used by Credit Rating Agencies (CRAs)
Addendum to SEBI Circular on Development of Passive Funds
Reduction in denomination for debt securities and non-convertible redeemable preference shares
Block Mechanism in demat account of clients undertaking sale transactions - Clarification
Master Circular - IRDAI (Investment) Regulations, 2016 - Version 3 (October 2022)
Master Guidelines on AML/CFT 2022 – extension of time for Implementation
Repatriation of Assigned Capital by FRBs/Lloyd’s India
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [No.91(NT)]
Procedure for identification of parboiled rice varieties during export [Instruction No.29]
CVD on Saccharin originating in or exported from China PR [No.4(CVD)]
Seeks to increase the Special Additional Excise Duty on Diesel [No.37]
Pre-deposit payment method for cases pertaining to Central Excise and Service Tax
