Indian News

• GST tax demand not settled despite payment? New online form notified to help taxpayers adjust tax demand amount; here's how to do it
• RBI's 'cease and desist' directive on NBFCs not arbitrary: Shaktikanta Das
• CBI arrests five senior CGST officers in ₹50 lakh bribery case
• Tax notices issued to wealthy Indians over undeclared Dubai properties
• IBBI proposes mediation mechanism for operational creditors in IBC
• Tax fraud: ₹25,000 crore GST evasion by 18,000 bogus companies uncovered
• CBDT allows tax officials to waive or reduce interest due from taxpayers
• Stress building again six years after India’s shadow-banking sector blew up
• NFRA may take up revision of 35 audit standards next week
• FinMin seeks comments from sponsor banks on proposed RRB amalgamation
• Income tax dept receives 6,500 suggestions on review of income tax act
• Sebi allows MFs to invest in foreign funds with Indian securities exposure
• Daughters' names to stay in family records for pension after retirement
• Sebi's new rules for Securitisation explained: What Investors need to know
• Sebi proposes interest rate derivatives for hedging by REITs and InvITs
• Can ICAI set quality rules for audit firms?
• PSBs, financial institutions monetise Rs 4.5 crore through scrap disposal
• GST return filing time limit soon: No filing to be allowed after 3 years of due date, it's time to file any pending return
• CBDT notifies Tolerance Range for Transfer Pricing for A.Y 2024-25 as per proviso to sub-rule (7) of rule 10CA of the Income-tax Rules, 1962
• Top firms back NFRA’s new group audit rules
• Indian law firms eye longer arms

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International News

• KPMG to Lay Off 4% of U.S. Audit Workforce to Counter Fewer Voluntary Exits
• Internal auditors, CFOs should share the AI disruption risk: IIA CEO
• FASB issues new, long-anticipated income statement expense rules
• FASB proposes guidance on business combinations
• ICAEW to launch next generation ACA qualification
• Most finance leaders believe sustainability targets out of reach: EY
• PCAOB Provides Three Resources For Auditors On the New Quality Control Rules
• ‘Muppets and miscreants’ don’t speak for auditors, FRC boss says
• [US] EY, PwC voice cautious support for 120-credit hour CPA licensure
• SEC's evolving stance on climate disclosures has implications for auditors
• ICEAW: AI adoption challenges: an ethical dilemma for auditors
• Four accountancy firms complete FRC governance transition
• FRC issues AI guidance; IAASB increases commitment to technology
• AI promises more efficiency but won’t replace auditors
• KPMG backs 120-credit hour alternative CPA licensure option
• Internal auditors say AI risks are the toughest
• Clients expect auditors to use AI
• Auditors play important role in responding to fraud risk: CAQ
• What must-have AI skills do finance execs need? First, dig in
• IFAC guide helps smaller firms monitor quality management systems
• PCAOB inspectors offer advice in areas of risk
• SEC amended PCAOB Rule 3502 to raise the bar on ethics rules

Click here for complete International News Listings

Reference Updates

• ICAI: Clarification for Members Regarding requirement to register as Investment Adviser (IA) with SEBI
• 7 New ICAI Publications - Published in September 2024
• IFAC Quality Management Series: Installment Three: Monitoring and Remediation
• PCAOB Reference Material: Bank Financial Reporting Audits (Report)
• ICAI Announcement: Issuance of SQM 1, SQM 2
• ICAI Publications - Quality Review Board: Guidance on Non-Compliances Observed by QRB During Quality Reviews (Volume 2) - Part 1
• ICAI Publications - Quality Review Board: Guidance on Non-Compliances Observed by QRB During Quality Reviews (Volume 2) - Part 2
• ICAI Publications: Valuation
• ICAI Publications: Internal Audit
• ICAI Publications: Insolvency & Bankruptcy
• ICAI Announcement: Extension of last date for payment of Membership /COP fee for the year 2024-25 to 31st December, 2024.
• GST FAQs
• The Digital Personal Data Protection Act, 2023
• The India International Arbitration Centre (Composition and functions of the Committees) Rules, 2023
• ICAI Publications: Corporate Social Responsibility
• ICAI Technical Guide on Appeal before CIT(A) - Parts I & II
• IAASB Reference Materials: The International Standard on Auditing for Audits of Financial Statements of Less Complex Entities
• ICAI Technical Guides: Technical Guide on Disclosure and Reporting of KPIs in Offer Documents
• ICAI Publications: Peer Review
• ICAI Publications: Anti-Money Laundering Law

Taxation Laws Update

• Income Tax Notification No.5/2024: Specifying Forms Prescribed in Appendix-II of the Income Tax Rules 1962, to be furnished electronically under sub-rule(1) and sub-rule (2) of Rule 131 of the Income Tax Rules, 1962
• Income Tax Circular No.15: Order u/s 119(1) fixing the monetary limits of the Income-tax authorities in respect of reduction or waiver of interest paid or payable u/s 220(2)
• Income Tax Circular No.14: Condonation of delay of section 119(2)(b) of the Income-tax Act, 1961 for returns of income claiming deduction u/s 80P of the Act for AY 2023-24
• GST Advisory for Form GST DRC-03A
• GST Advisory: Time Limit for Reporting e-Invoice on the IRP Portal – Lowering of Threshold to AATO 10 Crores and Above
• GST Advisory: Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Ladakh
• GST Advisory: Barring of GST Return on expiry of three years
• Customs Update - October 29, 2024
• Central Excise Notification No.27
• GST Corrigendum to Circular No. 237: Refund of pre-deposit paid at the time of filing an appeal
• Income Tax Circular No.13: Extension of due date for furnishing return of income for the Assessment Year 2024-25
• Customs Notification No.70(NT): Non-Levy of Customs Duty on the import of Simply Sawn Diamonds
• Customs Notification No.69(NT): Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
• Central Excise Notification No.26: Amendement in Fourth Schedule to Central Excise Act, 1944
• GST Corrigenda: Making Reverse Charge of GST applicable only on renting of immovable property
• Customs Update - October 23, 2024
• GST Advisory - Reg 07
• Customs Update - October 22, 2024
• GST Advisory: Validation of bank account details while adding bank account as Non Core amendment
• Customs Instruction No.23: Clarification on certain aspects of origin procedures under free trade agreements (FTAs)
• Income Tax Notification No.116: Notification u/s 92C(2) - Regarding Variations in Transfer Pricing
• GST Advisory: Additional FAQs on IMS
• GST Advisory: Attention – Hard - Locking of auto-populated liability in GSTR-3B
• Customs Instruction No.21: Retrospective issuance of certificates of origin under India-UAE CEPA

Click here for all "Taxation Laws Updates"

Corporate Laws Update

• IFSCA Circular: Clarifications in relation to Investment Restrictions on Retail Schemes set up in IFSCs
• DGFT Update - October 29, 2024
• RBI Circular: Directions for Central Counterparties (CCPs)
• IFSCA Circular: Format and manner of seeking authorisation to commence or carry on a Payment System in an IFSC
• DGFT Public Notice No.27: Filing of Annual RoDTEP Return (ARR)
• DGFT Update - Oct.25, 2024
• SEBI Circular: Annual Compliance Certificate for Client Level Segregation by Non-individual Investment Advisers and timeline for submission of periodic reports
• SEBI Circular: Periodic Reporting format for Research Analysts and Proxy Advisers
• SEBI Circular: Clarification with respect to advertisement code for Research Analysts (RAs)
• SEBI Circular: Modification in Annexure to Common Application Form (CAF)
• SEBI Circular: Inclusion of Mutual Fund units in the SEBI (Prohibition of Insider Trading) Regulations, 2015
• SEBI Circular: Association of persons regulated by the Board and their agents with certain persons
• RBI Master Directions : RBI (Access Criteria for NDS-OM) Directions, 2024
• RBI Circular: RBI (Access Criteria for NDS-OM) Directions, 2024
• SEBI Circular: Clarification with regard to usage of 3 – in – 1 type accounts for making an application in public issue of securities
• IFSCA Circular: Listing of Commercial Paper and Certificates of Deposit on the recognised stock exchanges in the IFSC
• DGFT Trade Notice No.21: Electronic Submission of Appendix 4H Certificates
• SEBI Circular: Introduction of Liquidity Window facility for investors in debt securities through Stock Exchange mechanism
• SEBI Circular: Monitoring of position limits for equity derivative segment
• SEBI Circular: Monitoring Shareholding of Market Infrastructure Institutions (MIIs)
• SEBI Circular: Corrigendum to Circular on Ease of Doing Business in the context of SOP for payment of “Financial Disincentives” by MIIs as a result of Technical Glitch
• DGFT Update - Oct. 14, 2024
• MCA Notification: The Companies (Adjudication of Penalties) Second Amendment Rules, 2024
• IFSCA Circular: Directions to IBUs for operations of the Foreign Currency Accounts of Indian resident individuals opened under LRS

Click here for all "Corporate Laws Updates"

CA's Referencer & Articles

• NFRA Circular: Responsibilities of Principal Auditor and Other Auditors in Group Audits
• CA's Referencer: Indian Revenue Service - Civil List 2024
• Member's Article: One Person Company under the Companies Act, 2013
• CA's Referencer: Accounting Standards - Quick Referencer
• CA's Referencer: Saransh - Last Mile Referencer for Direct Tax Laws and International Taxation
• CA's Referencer: Background Material on GST - Volume 1 & 2
• CA's Referencer: Background Material on GST Demands & Appellate Remedies
• CA's Referencer: Handbook of GST Law & Procedures [For Departmental Officers]
• Member's Article: Goal Setting – a good place to start?
• CA's Referencer - ICAI: Excel Utility for Bank Branch Audit [2024 edition]
• CA's Referencer: Commonly Found Errors in Reporting Practices
• CA's Referencer - Corporate Law: Expert Committee Report on Framework for Use of Mediation under the IBC
• CA's Referencer: Customs Duty Drawback Rates for 2023-24
• CA's Referencer: Checklist on Standards on Auditing
• CA's Referencer: Customs Post Clearance Audit Formats
• CA's Referencer: Utility to Generate Audit Engagement Letters
• CA's Referencer: Form for Disclosue of Fees Received by CA Firm as per Reporting Requirements under Code of Ethics
• Article: IIM-A Report of Study on Effectiveness of the Resolution Process: Firm Outcomes in the Post-IBC Period
• ICAI Quality Review Board Report: Audit Quality Review
• Article: Audit Quality management standards: How to perform a root cause analysis
• CA's Referencer: NFRA
• Additions to CA's Referencer - Company Law
• Quick Referencer for Tax Audit u/s 44AB of The Income Tax Act, 1961 (AY 2023-24)
• Article: Peer review findings in audits of not-for-profits: What auditors need to know
• CA's Referencer: SEBI: New additions
• Article: Quality management standards: How to identify risks and design responses
• CA's Referencer: Accounting Standards - Disclosures Checklist
• CA's Referencer: Accounting Standards: Quick Referencer for Micro Non-Company Entities

Go to "CA's Referencer" section

From the ICAI

ICAI Announcements

Accounting Standards

Accounting Standards for Local Bodies

Indian Accounting Standards - Ind AS 

Ind AS Technical Facilitation Group (ITFG)

Standards on Quality Control (SQCs)

Standards on Internal Audit

Guidance Notes

Technical Guides 

Implementation Guides 

ICAI Publications

FAQs issued by ICAI 

International Content

  
International Financial Reporting Standards (IFRS)

IFRS Sustainability Disclosure Standards
  

IFAC Reference Materials

IAASB Reference Materials

FASB Reference Materials

IESB Reference Materials

IPSASB Reference Materials

PCAOB Reference Materials

FRC Reference Materials

Acts / Regulations & FAQs

ICAI Acts / Regulations  

Income Tax FAQs 

GST Act / Rules & GST FAQs

MCA FAQs

IBBI Acts / Regulations & IBBI FAQs

CCI Acts / Regulations / FAQs

SEBI Acts / Regulations & SEBI FAQs

RBI Acts / Regulations / FAQs

IFSCA Acts / Regulations / FAQs

IRDA Acts / Regulations

DGFT Acts / Regulations / FAQs

Customs Acts / Regulations 

Exposure Drafts

• IBBI Discussion Paper: Mediation by the Operational Creditors before approaching Adjudicating Authority for filing Section 9 application
• IRDAI Draft: IRDAI (Insurance Fraud Monitoring Framework) Guidelines, 2024
• SEBI Draft: SMS and E-mail alerts to investors by Stock Exchanges
• SEBI Draft: Valuation of repurchase (repo) transactions by Mutual Funds
• SEBI Consultation Paper on recognition as specified digital platform
• IPSAS Draft: Limited-scope Updates to First-time Adoption of Accrual Basis International Public Sector Accounting Standards (Amendments to IPSAS 33)
• IPSAS Draft: Amendments to IPSAS as a Result of the Application of IPSAS 46, Measurement

Go to the "Exposure Drafts" listings to access all Exposure Drafts

Useful Forms

Income Tax Forms

Income Tax Return Forms for AY 2023-24

Income Tax eFiling Utilities

All Income Tax Forms and Fillable Forms

Wealth Tax Forms

GST Forms

MCA Forms

IBBI Forms

CCI Forms

NCLAT Forms

DGFT Forms

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Central Excise Forms

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