Weekly Newsletter - March 20, 2024
Latest additions to CAalley:
News Update:
Useful Forms:
Exposure Drafts:
From the ICAI:
Legal Updates:
News Update:
Builder’s error in allotting flat will not impact tax benefit claim, rules ITAT
Income Tax Department cancels long Good Friday weekend from March 29-31 for employees; here’s why
How to register MSME on Udyam portal? A step-by-step guide on procedure
Sebi proposes audiovisual representation of disclosures by companies floating IPOs
CBI seizes ₹30.5L from CGST officer’s premises
Regulatory overreach? Sebi and RBI acting tough to restore credibility
I-T dept expands scope for officers filing appeals, includes TDS disputes
Govt considers changing SARFAESI, DRT; to provide legal weight to e-notices
Income Tax department recovers Rs 73,500 cr in pending dues for FY24
UDGAM Portal: Your one-stop shop for unclaimed deposits in India
6 in 10 find hidden charges on online banking platforms, shows data
Govt proposes exempting certain M&A deals from CCI approval requirement
RBI warns banks of increase in cyber threats: Shares action points
Rajasthan govt prepares draft policy to boost exports via ease of doing biz
Delhi ITAT rejects tax claim for virtual services provided by global law firm
Sebi nod to T+0 settlement for limited stocks, eases norms for FPIs
CGST officials arrested for accepting Rs 1.5L bribe in Mumbai
Audit plays catalytic role in promoting efficiency, effectiveness: CAG
CCI terms Google's Users Choice Billing system unfair, orders probe
RBI governor asks regulated entities to improve grievance redress mechanism
Cos under recast get more time to file modified income returns
Sebi may allow employees to donate on social stock exchange: Buch
Govt, RBI in talks to ease Fema guidelines for boosting e-commerce exports
SGST sleuths raid 28 locations of pan shop chain
Govt, ADB ink $23 milllion loan agreement to strengthen fintech ecosystem
5 PSU banks to reduce govt shareholding to meet Sebi's MPS norms: DFS Secy
Found gross negligence by Byju's auditors: ICAI president
Insurance cos plan to file writ petition seeking GST clarity
Accounting body says investors want climate data that U.S. rules exclude
PCAOB fines Israeli audit firm $200K
Deloitte launches biggest reorganisation in a decade to cut costs
Why the profession needs to say no to NOCLAR
AICPA makes recommendations for digital asset transactions regulations
Audit committees are critical—but only a third of those sitting on one think they are effective
IAASB standard for auditing less complex entities
IASB proposes to improve acquisition reporting
Audit committees rank cybersecurity as top priority amid SEC crackdown
EU lawmakers pass sweeping AI rules with global reach, stiff penalties
Useful Forms:
JSON Schema released for ITR 1 and ITR 4
MCA eForms have been updated as on March 18, 2024:
All MCA eForms are available at here
Exposure Drafts:
Consultation on refund process from IEPF Authority
[Last date for Comments: April 15, 2024]
Draft Circular - Audiovisual (AV) representation of disclosures made in the Public Issue Offer Documents
[Last date for Comments: April 9, 2024]
Business Combinations—Disclosures, Goodwill and Impairment
Basis for Conclusions on Business Combinations — Disclosures, Goodwill and Impairment
Proposed amendments to IFRS 3 and IAS 36
[Last date for Comments: July 15, 2024, 2024]
From the ICAI:
Revised Applicability of Peer Review Mandate (Phase II & III)
Legal Updates:
Order to keep Income Tax Office open on March 29, 30 and 31
Corrigendum to Notification No.27/2024 [Notification No.34]
DTAA with Spain [Notification No.33]
Ease of doing business: Settlement of Client’s Funds lying with Broker Dealer
Safeguards to address the concerns of the investors on transfer of securities in dematerialized mode
Amendment in Policy condition of De-Oiled Rice Bran [Notification No.76]
Imposition of Minimum Export Price (MEP) on export of Honey [Notification No.75]
Amendments in Para 4.14 and 4.06 of the Handbook of Procedures 2023 [Public Notice No.51]
Seeks to extend ADD on Aluminium Road Wheels imported from China PR [Notification No.7(ADD)]
Prohibition for import of ferocious breeds of dog [Instruction No.5]