Daily Newsletter - February 4, 2026

Latest additions to CAalley:

News Update:

Indian News

Budget 2026 News

International News

Exposure Draft:

SEBI Draft

Legal Updates:

RBI

SEBI

IFSCA

Customs

Central Excise

News Update:

Indian News:

88% individual taxpayers shift to new tax regime, CBDT chief rules out sunset clause for old regime

'My body refused to move at 6 am': Bengaluru CA on burnout after once working 14-hour a day for 6 months

RBI MPC meet begins: Will RBI keep rates unchanged after US trade deal?

Lenders ask RBI to relax liquidity rules amid growing loan demand

Tax dept denies Rs 73 lakh TDS credit; ITAT Mumbai gives relief to taxpayer

Why Trump administration is still imposing 18% tariff on India - Explained

India-EU FTA likely to come into force this year: EU Ambassador to India

Man sets-off Rs 5.18 crore STCL from shares against Rs 5.21 crore LTCG; tax dept sent notice; he wins case in HC

RBI asks banks to stay open on March 31 to close FY26 govt accounts

Caution, not celebration: India-US trade deal still short on clarity

India-US trade deal: Timeline of negotiations, tariffs and turning points

India, US agree to a trade deal; reciprocal tariff reduced to 18%: Trump

Finance ministry mulls raising FDI limit in public sector banks to 49%

Budget 2026 News:

Budget 2026 simplifies tax rules for PF trusts: What changes for you

Union Budget 2026-27 shakes up NRI money: What Indians in UAE must do now

Tax benefit on under-construction home loan interest remains intact in new act

No need to pay income tax if your land is acquired by government giving payout under RFCTLARR Act; Budget 2026 proposal

No tax risk for foreign companies setting up data centres in India under new Budget proposal: Finance Ministry sources

Higher income tax on dividend income from shares and income from mutual funds if earned via this method; announced in Budget 2026

FAQs on Budget, 2026 - Compiled by Income Tax Department

Notes on Clauses - Compiled by Income Tax Department

Finance Bill 2026 - Taxation provisions

No Rupee limit, only weight limit on bringing jewellery from abroad by returning Indians, more baggage-related relaxations

Budget 2026 makes TDS/TCS deduction rules mandatory, know how it will help in reducing disputes

Budget 2026: TCS cut may ease pockets of students eyeing foreign education

Budget 2026 and crypto tax: Experts decode tighter reporting rules

Budget 2026 highlights: From liquor to travel, what got cheaper, costlier

International News:

[ICAEW] Group auditing: Nine key changes for auditors

Exposure Draft:

SEBI Draft:

Consultation paper on proposed amendments to Schedule II of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008 – ‘Fit and Proper Person’ Criteria
[Last date for Comments: February 25, 2026] 

Legal Updates:

RBI:

All Agency Banks to remain open for public on March 31, 2026 (Tuesday)

SEBI:

Revision of Order-to-Trade Ratio (OTR) framework

IFSCA:

Requirement for a Finance Company/ Finance Unit (FC/FU) to have a website/ webpage

IFSCA (Fund Management) (Amendment) Regulations, 2026

Customs:

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.17(NT)]

Corrigendum to Notification No.16(NT)-2026

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.16(NT)]

Introduction of system-based e-Scheduling for examination of cargo and mandatory use of Body Worn Cameras (BWC) during examination of import cargo [Circular No.7]

Automation of Customs processes in import and export [Circular No.6]

Onboarding of CDSCO, WCCB, Textile Committee and MeitY on SWIFT 2.0 as Single Touch Point for Trade [Circular No.5]

Guidelines for uniform implementation of Baggage Rules, 2026 [Circular No.4]

Extension of time period under Deferred Payment of Import Duty Rules, 2016 and addition of eligible manufacture importer in class of eligible importers to avail the facility [Circular No.3]

Clarification on the term RPA (Remote Pilot Aircraft) for military use [Circular No.2]

Central Excise:

Seeks to amend notification no. 03/2025 dated 31.12.2025, to prescribe nil rate on unmanufactured tobacco or tobacco refuse, not bearing a brand name and not packed for retail sale [Notification No.4]

2nd Corrigendun to Notification No.4/2025

Corrigendun to Notification No.3/2025