Weekly Newsletter - December 27, 2023
Latest additions to CAalley:
News Update:
New addition:
Exposure Drafts:
Acts & Regulations:
International Content:
Legal Updates:
News Update:
Sebi extends deadline to add nominees in mutual funds, demat accounts
New rules: EPFO sets new timeframe limits for freezing and de-freezing accounts; know the details
RBI asks NBFCs to broad-base fundraising, reduce dependence on banks
Reserve Bank of India gives nod to reverse merger of IDFC-IDFC First Bank
Govt extends non-preferential certificate of origin online filing period
Income Tax dept sends advisory to taxpayers over mismatch in ITR, TDS/TCS deductions
RBI proposes framework to rationalise money changers' authorisation
Bank ordered to pay Rs 10 lakh to customer for loss of jewellery from bank locker
Jammu: Rs 2 cr recovered from defaulters of GST this year
Tribunal members’ quality affecting decisions: Experts
Sessions court overturns summons to Huawei executives in tax evasion case
Overseas job seekers take note! Recruitment agents can’t charge you more than this amount
Taxpayers may be allowed to file revised GST returns from Apr 2025
HRA Tax exemption: Do you need both rent receipts and agreements? FAQs answered
GST revenues robust amid stricter audit, 2024 may see tax base widen
Govt to talk with IRDA for review of 24-hour hospitalisation rule for mediclai
Get lenders dressing up loans to cut exposure, AIFs tell RBI
Small banks struggle to find CEOs
Compliance costs may spur fintech sector consolidation: Industry experts
CGST dept busts bizman in 357cr fraud case
Centre, Deloitte studying impact of GST on power
No takers for rupee payment for oil imports: Oil ministry in Parliament
Income Tax dept notifies ITR forms 1, 4 for assessment year 2024-25
RBI imposes Rs 2 lakh penalty on TDCC Bank for sanctioning loan to director
SEBI to move to instant settlement in two phases
NFRA finds certain lapses in audit quality of network entities of Big 4
Finance Ministry asks banks to monitor top 20 IBC cases
LIC exempted from public stake rule
Govt set to miss target for divestment in 2023-24 too
FinMin economic advisors question rating agencies' view on India's progress
Sebi to auction properties of 5 cos on Jan 22 to recover investors money
CBDT amends safe harbour norms for MNC group transactions
New NPS rules: Now, NPS subscribers can deposit contributions through UPI QR code
Insider trading: Securities Appellate Tribunal scraps Sebi's order against Biyani
You can now tokenise your debit/credit card via mobile and internet banking
Sebi tweaks norms for online resolution of disputes in securities market
PCAOB plans more, wider inspections in 2024
PwC Is the Winner of the 2022 Auditor Rankings, European Edition
New addition:
Exposure Drafts:
CCI (Determination of Turnover or Income) Regulations, 2023
[Last date for Comments: January 12, 2024]
Rationalisation of Licensing Framework for Authorised Persons (APs) under Foreign Exchange Management Act (FEMA), 1999
[Last date for Comments: January 31, 2024]
Draft Omnibus Framework for recognising Self-Regulatory Organisations for its Regulated Entities
[Last date for Comments: January 25, 2024]
Consultation paper on ‘Introduction of optional T+0 and optional Instant Settlement of Trades in addition to T+1 Settlement Cycle in Indian Securities Markets'
[Last date for Comments: January 12, 2024]
Proposed Statement of Financial Accounting Concepts
Concepts Statement No. 8, Conceptual Framework for Financial Reporting
Chapter 6: Measurement
[Last date for Comments: March 20, 2024]
Proposed Accounting Standards Update
Debt—Debt with Conversion and Other Options (Subtopic 470-20)
Induced Conversions of Convertible Debt Instruments
[Last date for Comments: March 18, 2024]
Acts & Regulations:
Master Direction - Liberalised Remittance Scheme (LRS)
Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations
Master Direction- Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016
Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023
International Content:
Thematic Review:
Audit Sampling
[November 2023]
Legal Updates:
Reserve Bank of India (Government Securities Lending) Directions, 2023
Rupee Drawing Arrangement - Submission of statement/return on CIMS Portal
CIMS Project implementation - Discontinuation of submission in legacy XBRL
Reverse Repo transactions - Reporting in Form ‘A’ Return
Clarification on the applicability of ad-hoc norms Circular No.8]
Exchange Rate Notification No. 93/2023-Cus (NT) dated 21.12.2023 [Notification No.93(NT)]
