Weekly Newsletter - February 28, 2024
Latest additions to CAalley:
News Update:
Exposure Drafts:
Useful Forms:
Acts & Regulations:
Legal Updates:
News Update:
India's rank remains unchanged at 42 in International IP index 2024
Bengaluru tax payers are giving us buoyancy: FM Nirmala Sitharaman
Sebi mulls relaxing enhanced disclosure framework for certain FPIs
Trusts fear new tax to shrink coffers, hurt charity work
RBI consolidates reporting norms for REs, eases compliance burden
CCI proposes changes in confidentiality regime for efficient proceedings
Corporate affairs ministry probing Chinese cos linked to mobile loan apps
Sebi asks small, mid-cap funds to disclose more information about risks
Finmin, RBI to look at ownership change in fintech cos for compliance
Banks branch out as deposits hard to come by on apps
MCA to refer larger unlisted firms governance framework matter to CLC next month
CBDT identifies mismatches in ITRs, dividend income info from third party
RBI imposes ₹2 crore penalty on SBI; also fines Canara Bank, City Union Bank
GST Council may soon clarify tax exemption to RERA
Sebi cautions against fraudulent trading platforms offering FPI route
RBI lifting curbs on forex non-deliverable forward arbitrage by banks
Paytm issue may be reviewed, scrutiny on Byju's progressing well: ICAI
Sebi using AI for investigations, says official
SEBI plans to make nomination optional for joint MF portfolios
Use of AI will prevent formation of stressed assets: IMF's Subramanian
Govt permits GSTN to share data with RBI's frictionless credit platform
RBI allows banks, non-banks to issue PPIs to commuters for public transport
RBI allows Paytm’s UPI payment business to be migrated to four to five other banks
₹10,000 crore GST fraud: Assets worth ₹5 crore of two suspects attached
Govt extends the interest equalization scheme until June 30, 2024
PFRDA amends regulations for Trustee Bank, Central Recordkeeping Agency
Technology advancements prompt ICAI to favour shorter frequency for audit reports
Chartered accountants from UK, Canada might be allowed to practice in India: ICAI president
SEBI fines 3 entities for flouting venture capital fund rules
PFRDA eases business processes with simplified trustee appointments
RBI to meet banks to examine grey areas in overseas investment rules
Govt eases FDI norms in space sector
No service tax on venture capital funds for investment management activities: Karnataka High Court
PCAOB Looks to Ban Audit Firms From Misrepresenting Their Registration Status
PCAOB reconsidering auditors’ role in noncompliance reporting
Audit fees for UK-listed companies up 75% since 2018, study finds
PCAOB finds fault with half of Ernst and Young Canada audits inspected
EU carbon border tax will do little to cut emissions, says ADB study
Sustainability reporting, assurance rates on the rise globally
PCAOB fines Withum $2M for SPAC audit violations
PCAOB sweep hits 4 auditing firms, including Grant Thomson India affiliate
Exposure Drafts:
Amendment to Regulations 35, 37 and 50 of the Competition Commission of India (General) Regulations 2009
[Last date for Comments: March 27, 2024]
Draft Disclosure framework on Climate-related Financial Risks, 2024
[Last date for Comments: April 30, 2024]
Consultation paper on proposals to improve ease of doing business with respect to the additional disclosure framework for FPIs
[Last date for Comments: March 8, 2024]
Consultation Paper on Ease of Doing Business Initiatives for Mutual Funds
[Last date for Comments: March 25, 2024]
Useful Forms:
All MCA eForms have been updated
Acts & Regulations:
IBBI (Insolvency Resolution Process For Corporate Persons), 2016 (Amended upto 15.02.2023)
Master Direction – Reserve Bank of India (Filing of Supervisory Returns) Directions - 2024
Master Directions on Prepaid Payment Instruments (PPIs)
(Updated as on February 23, 2024)
Master Direction - Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016
(Updated as on February 22, 2024)
Legal Updates:
Implementation of e-Verification Scheme-2021 [Press Release]
Corrigendum to Notification GSR 83(E), dated 31st January, 2024 (ITR Notification)
Enhancing Transparency and Stakeholder Engagement in Liquidation Process
Report of the Working Group on uniform working hours and holiday list for IBUs
Bullion Trading Members and Clearing Members in GIFT- IFSC
Capital Adequacy Guidelines – Review of Trading Book
Amendment to Master Direction on Prepaid Payment Instruments
Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit
Obligatory Cessation for the FY 2024-25
Suspension of inoperative SIONs w.e.f. 1st April, 2024 [Public Notice No.44]