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Daily Newsletter - May 19, 2023

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

SEBI Drafts

Legal Updates:

Income Tax






News Update:

Indian News:

GST E-invoicing: A new era of efficiency and accountability in Indian taxation

No TCS on overseas payment via international credit, debit cards upto Rs. 7 lakhs: FinMin

RBI may cancel licence of asset reconstruction companies after I-T report

RBI planning strict rules for firms offering payments via PoS machines

SEBI proposes changes in mutual funds' Total Expense Ratio to curb mis-selling

SEBI proposes new framework for AIFs to strengthen corporate governance rules

SEBI probe into Adani drew a blank: Supreme Court-appointed panel

Cracking the whip: Stricter rules against suspicious trading on cards

Reserve Bank of India to withdraw Rs 2,000 currency notes from circulation

Paytm partners with SBI Card, NPCI to launch co-branded RuPay credit cards

FinMin applies amnesty scheme for traders failing to meet export obligation

Travelling abroad? Limit personal expenses to $250K on intnl credit cards

Your credit card payments overseas will attract a 20% TCS from July 1

DPIIT takes up startup taxation issue with finance ministry: Secretary

Irdai forms task force to facilitate ease of doing KYC using Aadhaar


International News:

IFAC issues anti-corruption tool for accountancy organisations

Angry lawmakers accuse Fed of inaction in insider trading investigation

PCAOB Moves Project on Audit Quality Indicators to Standard-Setting Agenda

Exposure Drafts:

SEBI Drafts:

Consultation Paper on Review of Total Expense Ratio charged by Asset Management Companies (AMCs) to unitholders of schemes of Mutual Funds to facilitate greater transparency and accrual of benefits of economies of scale to investors
[Last date for Comments: June 1, 2023] 

Consultation paper on streamlining regulatory framework for registration of Foreign Venture Capital Investors (FVCIs)
[Last date for Comments: May 31, 2023] 

Consultation paper on proposed amendment to SEBI (Alternative Investment Funds) Regulations, 2012 to strengthen governance mechanisms of Alternative Investment Funds (AIFs)
[Last date for Comments: May 31, 2023] 

Consultation paper on draft SEBI (Prohibition of Unexplained Suspicious Trading Activities in the Securities Market) Regulations, 2023
[Last date for Comments: June 2, 2023] 

Consultation Paper on proposed review of the definition of Unpublished Price Sensitive Information (UPSI) under SEBI (Prohibition of Insider Trading) Regulations, 2015 to bring greater clarity and uniformity of compliance in the ecosystem
[Last date for Comments: June 2, 2023] 

Legal Updates:

Income Tax:

Mahila Samman Savings Certificate, 2023 notified [No.27]



Risk disclosure with respect to trading by individual traders in Equity Futures & Options Segment



₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender [Press Release]



Dedicated email IDs as single Point(s) of correspondence for the applicants seeking NOC, CoR OR for other related communication



Notification in relation to the rail link route connecting Bathnaha-Indian Customs Yard, Jogbani in Inda, and Nepal Customs Yard, Biratnagar in Nepal by amendment of Principal Notification No. 63/1994-Customs (N.T.) dated 21st November, 1994 [No.37(NT)]

Exchange rate Notification No. 36/2023-Cus (NT) dated 18.05.2023 [No.36(NT)]

Corrigendum to notification No. 35/2023-Customs dated 29.04.2023



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