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Daily Newsletter - April 25, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Reference Section:


Useful Forms:

Income Tax Return Forms

Legal Updates:







News Update:

Indian News:

Incriminating material must for any addition to taxable income: SC

RBI's wider NDF access may require foreign exposure proof: Bankers

Sebi recommends cancelling registration of eight AIFs

Governors must assent or send back bills ‘as soon as possible’: Supreme Court

Allow foreign currency transactions in country via RBI: Consultants & service providers urge govt

Don’t account on ChatGPT

I-T dept cracks down on Bajaj Allianz, ICICI Prudential amid wider probe

UIDAI, NPCI to set up eKYC aggregator, fin entities to gain

Starting this FY, companies must maintain audit trail

GST evasion: Taxmen using data analytics to identify 'missing link' in supply chain

NFRA imposes fine, debars auditors for 3 yrs for professional misconduct, other lapses in audit of SRS Ltd

Competition law changes: CCI to start public consultations on Regulations

RBI looks askance at co-lending arrangements

No proposal to regulate finfluencers, clampdown on ponzi apps in works: FM


International News:

India plans to open logistics hub for Indian companies in Panama: Jaishankar

EY Leaders Are Pressured to Rebuild Trust After Failure of Split

Study Finds Negative Impact on Audit Partners who Give Adverse Internal Control Opinions

AI assisted sustainability assurance can address market capacity shortage

SVB collapse was apparent if you read the footnotes

KPMG Australia turns to AI to improve its audits

UAE allows corporate tax exemptions for public benefit entities

Reference Section:


Detecting AML is not just a tick-box exercise for accountants
[Author: ICAEW Insights]

Useful Forms:

Income Tax Return Forms:

Income Tax Return eFiling Utilities for ITR 1

Income Tax Return eFiling Utilities for ITR 4

Legal Updates:


GST Advisory: Advisory on Bank Account Validation



Modifications in the requirement of filing of Offer Documents by Mutual Funds

Bank Guarantees (BGs) created out of clients’ funds



IRDAI Information and Cyber Security Guidelines, 2023

Master Circular on Registration of Indian Insurance Company, 2023



Provisioning for standard assets by primary (Urban) co-operative banks – revised norms under four-tiered regulatory framework

General Credit Card (GCC) Facility – Review



Amendment in Para 4.12 (vi) of the Handbook of Procedures, 2023 [Public Notice No.9]


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