Daily Newsletter - September 9, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

SEBI Draft

Acts & Regulations:

RBI Master Directions

CA' Referencer:

From ICAI

Legal Updates:

Income Tax

SEBI

IFSCA

DGFT

Customs

News Update:

Indian News:

Income-tax notice after family member’s death? ITAT ruling in ₹8.71 crore case offers key lessons for legal heirs

Taxpayer chose new tax regime, but consultant filed under old regime, triggering Rs 1.23 lakh demand; ITAT gives relief

Banks plan to e-auction cars, vehicles on BAANKNET to speed up recoveries

Public Insurance Registry: From tracking policies to improving claim processing, how PIR could benefit policyholders

SC gives govt two weeks to file list of black money cases pending in HCs

Company can face criminal prosecution even if no individual is made accused: Supreme Court

IFSCA notifies market abuse rules for securities markets in Gift City

SC rejects Centre plea to revive ₹363 cr GST demand against Vodafone Idea

CBIC releases import clearance checklist for cosmetics, drugs, and medical devices

Carbon pricing relief for Indian exporters to UK

Sebi eases investor group disclosure for FPIs investing in govt bonds

Sebi extends deadline for angel funds to comply with accredited investor mandate

Rajasthan govt seizes 44 vehicles in 3 weeks in tax evasion crackdown

Irdai fines ICICI Lombard Rs 1 crore for outsourcing, vendor management lapses

International News:

Audit regulation must target conduct, not audit quality, audit expert says

[US] Big Four Audit Quality Scores Rise as Watchdog Weighs Revamp

[Australia] KPMG’s ‘naughtiest kids’ turn on their own

Exposure Draft:

SEBI Drafts:

Consultation Paper on Strengthening Governance of MIIs
[Last date for Comments: September 30, 2026] 

Acts & Regulations:

RBI Master Directions:

Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations (Updated as on September 08, 2026)

Master Direction – Borrowing and Lending transactions in Indian Rupee between Persons Resident in India and Non-Resident Indians/ Persons of Indian Origin (Updated as on September 08, 2026)

CA' Referencer:

From ICAI:

Excel Tool For Audit Opinion Formation v1.0
[Published by ICAI - CAQ in August 2026]

Legal Updates:

Income Tax:

CBDT Order u/s 258(1) of ITA 2025: Mechanism for Sharing Aadhaar and PAN Details for Andhra Pradesh Welfare Scheme Verification

Notification authorising information sharing for Andhra Pradesh Welfare Scheme Verification [Notification No.118]

SEBI:

Review of Position Limits for Clients and Penalty Provisions for Violation / Breach of Position Limits for Commodity Derivatives Segment

Relaxation in timeline with respect to Accredited Investor mandate for Angel Funds

IFSCA:

Amendment to the Circular titled “Master Circular for Credit Rating Agencies in the IFSC”​

DGFT:

Comments/views on proposed suspension of 544 Standard Input Output Norms (SIONs) remaining unutilized during the last three financial years [Trade Notice No.26]

Customs:

Registration of Importers under Centralized EPR Portal for Plastic Packaging as per Plastic Waste Management Rules, 2016 (as amended) and verification of registration [Instruction No.15]