Daily Newsletter - August 17, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

IBBI Draft

DGFT Draft

SEBI Drafts

Legal FAQs:

Income Tax FAQs

Useful Forms:

ITR eFiling Utilities for AY 2026-27

Legal Updates:

Income Tax

SEBI

Customs

Central Excise

News Update:

Indian News:

Son wins 54F tax case on inherited land from mother

FCNR(B) swap window explained: Why RBI opened it, then advanced deadline

Insolvency, bankruptcy board aims to check misuse of law

RBI moves to distance self from bank deposit ratings

Sebi launches portals to strengthen cybersecurity incident reporting

MDR on UPI payments: Six rules govt must settle before charges can start

Banking leaders urged to shape reforms as government readies panel for Viksit Bharat 2047

Govt opens one-time foreign assets' disclosure window starting Aug 16

Gujarat High Court bars retrospective GST on corporate guarantees

Sebi proposes settlement framework overhaul, seeks simpler calculations

International News:

Overconfidence in AI governance means safety takes a back seat to speed

[Australia] KPMG will sack dozens of partners, 1000 staff amid audit scandal fallout

Exposure Drafts:

IBBI Draft:

Discussion Paper - Guidance to Insolvency Professionals for Due Diligence to Identify Fraudulent or Malicious Initiation of Corporate Insolvency Resolution Process, and Recourse under Sections 60(5) and 65 of the Insolvency and Bankruptcy Code, 2016
[Last date for Comments: August 24, 2026] 

DGFT Draft:

Draft Standard Operating Procedure (SOP) for reporting of Inward Remittance Messages pertaining to NBFC Factors
[Last date for Comments: September 11, 2026] 

SEBI Drafts:

Consultation Paper on Review of SEBI (Settlement Proceedings) Regulations, 2018
[Last date for Comments: September 4, 2026] 

Consultation Paper on Review of Know Your Client process for individual Persons Resident Outside India
[Last date for Comments: September 4, 2026] 

Legal FAQs:

Income Tax FAQs:

FAQs on The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 (Chapter IV, sections 130 to 144 of the Finance Act, 2026)

Useful Forms:

ITR eFiling Utilities for AY 2026-27:

Updated on August 14, 2026:

Common Offline Utility (ITR 1,2,3 and ITR 4)
• Utility for Windows
• Utility for MAC

Legal Updates:

Income Tax:

The Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 - Rules and Forms [Notification No.114]

SEBI:

Revision of Application Form for Mutual Fund Registration

Customs:

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.70(NT)]

Central Excise:

Seeks to amend Notification No. 11/2026-Central Excise dated 26.03.2026 to revise the Road and Infrastructure Cess (RIC) rate on exports of diesel outside India [Notification No.45]

Seeks to amend Notification No. 08/2026-Central Excise dated 26.03.2026 to revise the Special Additional Excise Duty (SAED) rate on exports of ATF outside India [Notification No.44]

Seeks to amend Notification No. 06/2026-Central Excise dated 26.03.2026 to revise the Special Additional Excise Duty (SAED) rates on exports of petrol outside India [Notification No.43]