Daily Newsletter - July 4, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

ICAI Draft

SEBI Draft

Acts & Regulations:

RBI Master Directions

CA's Referencer:

Income Tax

Legal Updates:

RBI

FEMA

Customs

News Update:

Indian News:

India-US trade deal: 'Don't make deals based on deadlines, national interest paramount', says Piyush Goyal as Donald Trump's tariff date nears

No insurance claim for reckless driving, says SC: Read fine print carefully

At WTO, India proposes retaliatory duties against US over auto tariffs

India bars Jane Street from its securities market, citing manipulation of stock indexes

India launches anti-dumping probe into polyethylene imports from 6 nations

Frequent transfers may hit GST collections, warns AP GST association leaders

CA arrested in loan fraud case, ED says he laundered money on behalf of former CMD of UCO Bank

ICMAI wants med insurance, essential commodities under cost audit ambit

Young scammer with MCA degree uses stock market returns as bait to loot over Rs 10 crore in one month

From November 1, funds for all central schemes to come via 'Sparsh'

RBI seeks 'borrower ID' to reduce credit score errors

State-level inflation data for items likely in new CPI series

RBI bars prepayment penalty on floating rate micro, small business loans

India reviews anti-dumping duty on jute imports from Bangladesh, Nepal

Sebi opens 6-month special window for investors to re-lodge rejected physical share transfer deeds

International News:

PwC UK to reduce 175 audit roles amid market challenges

Exposure Drafts:

ICAI Draft:

Draft amendments in Regulation 204 of the Chartered Accountants Regulations, 1988
[Last date for Comments: July 31, 2025] 

SEBI Draft:

Electronic Book Provider platform for issuance of instruments by Not for Profit Organizations on Social Stock Exchange
[Last date for Comments: July 24, 2025]
 

Acts & Regulations:

RBI Master Directions:

Master Direction on Financial Statements - Presentation and Disclosures (Updated as on July 03, 2025)

Master Direction - Reserve Bank of India (Financial Statements of All India Financial Institutions - Presentation, Disclosure and Reporting) Directions, 2016 (Updated as on July 03, 2025)

CA's Referencer:

Income Tax:

Gold and silver rates from 01/04/1981 - As amended by Finance Act, 2025

Various Threshold Limits under the Income Tax Act for AY 2026-27

Legal Updates:

RBI:

RBI (Pre-payment Charges on Loans) Directions, 2025

FEMA:

Foreign Exchange Management (Export of Goods & Services) (Amendment) Regulations, 2025

Customs:

Seeks to extend CVD on Continuous Cast Copper Wire, originating in or exported from Indonesia, Malaysia, Thailand and Vietnam [Notification No.6(CVD)]