Indian News

• Income Tax Department reduces time allowed to apply for old income tax refunds; check the new time limit
• Attracting and retaining talent remains key concern in banking: KPMG Report
• Centre-RBI disagreement deepens over inflation and rates cuts
• GST audit report in Maharashtra will be issued offline; know what steps to take to avoid future litigation
• Sebi considers overhauling SME listing regulations amid rising concerns
• Majority of corporates want government to enable real-time reporting for audit: Deloitte
• PSU stocks: New rules for share buyback, bonus issue, stock split and dividend
• Govt planning to sell stakes in 4 state-run banks to comply with Sebi norms
• Govt appoints K Sanjay Murthy as next Comptroller and Auditor General
• Govt to surpass Rs 22.07 trn direct tax collection target: CBDT chief
• IT Ministry finalising voluntary code of conduct, ethics for AI companies
• CCI slaps penalty of Rs 213 crore on Meta for abusing dominant position
• GST Appellate Tribunal to start operations by the end of FY25: Revenue Secy
• Sebi asks CRAs to verify issuers' funds availability, escrow payments in certain cases
• Sebi directs 4 entities to cease and desist from offering unlisted debentures
• ITR 2024: Declare foreign assets by Dec 31 or face Rs 10 lakh fine
• RBI to take on Google, Microsoft with its first-ever cloud platform: Report
• Rejig of income tax norms needs to ring in big-bang changes, say experts
• Deadline for filing GSTR 3B extended for taxpayers in these poll bound states
• India-focused offshore funds under ED scanner for rule violations
• CBDT launches campaign to inform taxpayers on undeclared foreign assets
• GST Council to take up tax on insurance, rate rejig of over 100 items

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International News

• FASB proposes guidance on accounting for government grants
• Audit committees expand oversight to ESG, cybersecurity, AI: EY
• PCAOB calls off NOCLAR standard for this year
• Ex-BDO auditor banned for 20 years for faking signatures and documents
• FASB wants feedback on financial KPIs
• PCAOB amends rules on deregistering audit firms
• PCAOB Debuts ‘Audit Focus’ Series for Auditors of Small Public Companies
• FASB seeks comments on newly proposed interim reporting guidance
• PCAOB offers guidance on auditor responsibilities for detecting, reporting illegal acts
• New [IFRS] report sets out global progress towards both mandated and voluntary corporate climate-related disclosures
• IASB proposes targeted improvements to requirements for provisions
• PCAOB Publishes Extra Guidance on Remediation Process
• Federal Reserve cuts key interest rate by 25 bps to support economy
• Bank of England cuts rates but sees higher inflation after Reeves' budget
• PCAOB Chair Williams Criticizes Restatements as Indicator of Audit Quality
• 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

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Reference Updates

• FRC Reference Material: Technical Actuarial Guidance (technical guide regarding use of AI) - Models
• ICAI Announcement: Revised Criteria for classification of Non-company entities for applicability of Accounting Standards
• 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

Taxation Laws Update

• Income Tax Circular No.17: Condonation of delay u/s 119(2)(b) in filing of Form No. 10-IC or Form No. 10-ID for AYs 2020-21, 2021-22 and 2022-23
• GST Notification No.26: Extension of due date for filing of return in FORM GSTR-3B for the month of October, 2024 for the persons registered in the state of Maharashtra and Jharkhand
• Income Tax Circular No.16: Condonation of delay u/s 119(2)(b) in filing of Form No. 9A/10/10B/10BB for AY 2018-19 and subsequent years
• GST Advisory: Important advisory on GSTR 2B and IMS
• Income Tax Press Release: Compliance-Cum-Awareness Campaign for AY 2024-25
• Customs Notification No.80(NT): Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
• Customs Notification No.79(NT): Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
• Customs Notification No.77(NT): Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
• Customs Update - November 14, 2024
• GST Advisory on IMS on Supplier View
• GST Advisory: IMS during initial phase of its implementation
• Customs Update - November 12, 2024
• GST Advisory For Waiver Scheme u/s 128A
• Customs Circular No.22: Clarification on Insurance Amount and Bond Value for CCSPs and validity of Bond for AEO-LO
• Customs Notification No.75(NT): The Handling of Cargo in Customs Areas (Amendment) Regulations, 2024
• GST Advisory related to ‘Other Territory’ applications
• Customs Notification No.73(NT): Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
• Customs Instruction No.27: Guidelines for Customs field formations in maintaining ease of doing business while engaging in investigation into tax evasion cases in import or export
• Customs Update - November 6, 2024
• 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)

Click here for all "Taxation Laws Updates"

Corporate Laws Update

• IFSCA Circular: Change in Procedure for implementation of Section 51A of the Unlawful Activities (Prevention) Act, 1967
• IFSCA Circular: Exempting certain entities/activities from the applicability of IFSCA (AML, CTF and KYC) Guidelines, 2022
• SEBI Circular: Amendment to Para 15 of Master Circular for Credit Rating Agencies
• SEBI Master Circular: Issue of Capital and Disclosure Requirements
• SEBI Master Circular: Compliance with the Provisions of the SEBI (LODR) Regulations, 2015 by Listed Entities
• SEBI Update - November 14, 2024
• DGFT Update - November 14, 2024
• SEBI Circular: Simplified registration for Foreign Portfolio Investors (FPIs)
• IFSCA Notification: Consolidated IFSCA (Registration of Insurance Business) Regulations, 2021
• SEBI Circular: Procedure for reclassification of FPI investment to FDI
• SEBI Circular: Trading supported by Blocked Amount in Secondary Market
• RBI Circular: Operational framework for reclassification of FPI to FDI
• RBI Circular: Reporting of Foreign Exchange Transactions to Trade Repository
• RBI Master Direction - Know Your Customer (KYC) Direction, 2016 [Updated]
• RBI Circular: ‘Fully Accessible Route’ for Investment by Non-residents in Government Securities – Inclusion of Sovereign Green Bonds
• IBBI Circular: Centralized Electronic Listing and Auction Platform for the Sale of Assets under Liquidation Process
• SEBI Circular: Disclosure of expenses, half yearly returns, yield and risk-o-meter of schemes of Mutual Funds
• SEBI Circular: Investments in Overseas Mutual Funds/ Unit Trusts by Indian Mutual Funds
• SEBI Advisory on unauthorized virtual trading / gaming platforms  
• IFSCA Update - November 6, 2024
• RBI Circular: Amendment to the Master Direction - Know Your Customer (KYC) Direction, 2016
• RBI Circular: Note Sorting Machines: Standards issued by the Bureau of Indian Standards
• DGFT Update - November 6, 2024
• 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)

Click here for all "Corporate Laws Updates"

CA's Referencer & Articles

• Treatment of Income from Different Sources - For AY 2025-26
• Income Tax Penalities & Prosecution
• Income Tax - Periods of Limitation - AY 2025-26
• Income Tax - Various Threshold Limits - AY 2025-26
• Tax rates as per IT Act vis a vis Tax Treaties
• TDS on transfer of certain immovable property - AY 2025-26
• Gold & Silver Rates
• Withholding Tax Rates - As amended by Finance (No. 2) Act, 2024
• Depreciation Rates - As amended by Finance (No. 2) Act, 2024
• Income Tax Benefits Available to Non- Residents - For AY 2025-26
• Income Tax Benefits Available to Small Businessmen - For AY 2025-26
• Income Tax Benefits Available Exclusively to Resident Persons and Indian Companies - For AY 2025-26
• Income Tax Benefits Available Only To Individuals & HUFs - For AY 2025-26
• TDS Rates - For AY 2025-26
• Income Tax Rates - AY 2025-26 and 2024-25
• Income Tax Benefits Available to Salaried Persons - For AY 2025-2026
• 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

Go to "CA's Referencer" section

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International Content

  
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Acts / Regulations & FAQs

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Exposure Drafts

• IFRS Exposure Draft: Accounting Standard Provisions - Targeted Improvements
• IBBI Discussion Paper: Monitoring Committee under CIRP
• IBBI Discussion Paper: Review of Grievance Redressal and Enforcement Framework and Rationalisation of Timelines Regarding Authorisation for Assignment
• IBBI Discussion Paper: Liquidation and Voluntary Liquidation Process
• SEBI Consultation Paper: Review of SME segment framework
• FASB Draft: Proposed Accounting Standards Update - Interim Reporting (Topic 270)
• DGFT Draft: Harmonisation of Schedule-II (Export Policy), ITC(HS) 2022

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

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