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Weekly Newsletter - April 10, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

RBI Drafts

SEBI Draft

IFSCA Draft

Acts & Regulations:

RBI Master Directions

IBBI Acts

IRDAI Guidelines

IFSCA Regulation

Useful Forms:

ITR eFiling Utilities for AY 2025-26

Income Tax eFiling Utilities

From the ICAI:

ICAI Publications - Direct Taxation

CA's Referencer:

NFRA Reference Material

Tech Zone – Simplifying Technology for CAs:

Tech-Zone Articles

Legal Updates:

Income Tax

GST

MCA

IBBI

RBI

FEMA

SEBI

IFSCA

IRDAI

DGFT

Customs


  

News Update:

Indian News:

Tax experts seek CBDT master circular to resolve legacy guidance issues

RBI tightens timelines for inward remittances, mandates faster credit

RBI may soon make you wait an hour before your UPI transfers goes through

Irdai revises cyber security norms, mandates stronger governance

Have a medical emergency? You can soon access part of your NPS savings

Sebi eases compliance norms for IPO lock-in of pledged shares

RBI simplifies MSME onboarding on TReDS, removes due diligence norm

RBI opens term money market to NBFCs, corporates to boost liquidity

RBI proposes scrapping IFR, allows quarterly profit inclusion in CRAR

CBI nabs GST superintendent, inspector in bribery trap in Chennai

GST officer, aide arrested for taking Rs 9,000 bribe in Navi Mumbai

4 new PAN card forms in FY26-27: Old vs new

New ITR forms require deails of political donations - check details

RBI holds repo rate at 5.25%: 5 key takeaways from April MPC decision

Irdai sets up sub-panel to review private health insurance landscape

Sebi grants one-time relaxation to IPO-bound companies, MPS norms

Supreme Court rules no personal hearing needed before declaring bank account as fraud

EPFO 3.0 withdrawal rules explained: When can EPF members withdraw their PF corpus through UPI?

Laid off or lost your job? Check EPFO withdrawal rules in case of unemployment

RBI proposes new BC structure and branch norms in draft guidelines

Sebi considering large-scale training push for independent directors to boost corporate governance: Tuhin Kanta Pandey

US 401(k) and other overseas pension account holders: Forms ITR-1 and ITR-4 are no longer available

Sebi wants independent directors to adopt 'constructive approach'

Audit firms wary as govt proposes to tighten rules

Loan against PPF: Who can borrow, limits, rates, and repayment rules

ITR filing: 4 disclosures you need to be ready with in new financial year

Identity theft: How a farmer ended up with a ₹14 cr tax bill he never owed

Delhi High Court asks CBDT to clarify tax on partners’ bonuses, stays recovery

Form 130 replaces Form 16: Experts explain what's changing in 'tax year'

ITR changes from April 2026: 5 key updates for Tax Year 2026–27 explained

India may soon notify new audit standards after prolonged regulatory tussle

Carrying gold or extra gadgets into India? What new baggage rules allow

Send or receive money abroad? New tax rules will change your paperwork

CAG flags tax irregularities by banks, NBFCs

Income tax dept opposes benefits to Jane Street Singapore

RBI retains bond structure, upgrades operations for savings bonds

Sebi mulls reintroducing open market share buybacks amid tax changes

Irdai seeks compliance check, action plan on dark patterns from insurers

RBI allows residents to exchange rupee notes at airport forex counters

No more 15G vs 15H confusion! New tax rules from April 1 change everything

Explained: How CBDT's GAAR tweak changes taxation for investors

FY27 bring new real estate tax rules: What stays, what gets easier

Govt grants full customs duty exemption on critical petrochemical products

Tiger Global ruling concerns: CBDT exempts pre-FY18 investments from GAAR

Irdai forms joint expert group to guide insurers on Ind AS transition

Govt imposes import curbs on gold, silver jewellery to check misuse of FTAs

  

International News:

AI is Co-Writing End-of-Month Financial Reporting. Here’s What that Means for Auditors

Why we still need junior accountants in the age of AI – and how their roles might change

[UK] Auditors told they cannot blame AI for failures

EY sets aside record £188mn for fines and legal claims

What to know about the new PCAOB auditing standards

Audit report card: More internal audit teams suffered cuts in 2025


Exposure Drafts:

RBI Drafts:

Draft “Reserve Bank of India (Governance) Amendment Directions, 2026”
[Last date for Comments: May 7, 2026] 

Draft Directions for ‘Trade Receivables Discounting System’
[Last date for Comments: May 1, 2026] 

Draft Amendment Directions on ‘Investment Fluctuation Reserve’
[Last date for Comments: April 29, 2026] 

Draft Amendment Directions on ‘Review of guidelines on inclusion of quarterly profits to Common Equity Tier 1 (CET1) capital for computation of Capital to Risk weighted Assets Ratio (CRAR) for Banks’
[Last date for Comments: April 29, 2026] 

Draft RBI (Branch Authorisation) Amendment Directions, 2026
[Last date for Comments: May 5, 2026] 

  

SEBI Draft:

Re-introduction of Open Market Buy-Back of Shares or Other Specified Securities through Stock Exchange
[Last date for Comments: April 23, 2026] 

  

IFSCA Draft:

Draft Mapping of Services Accounting Codes (SAC) and Introduction of Foreign Currency Expense Reporting for IFSC Units under SERF and MPR
[Last date for Comments: April 29, 2026] 


Acts & Regulations:

RBI Master Directions:

Check out the 41 RBI Master Directions updated in April 2026

  

IBBI Acts:

The Insolvency and Bankruptcy Code (Amendment) Act, 2026 
[Published on April 7, 2026]

  

IFSCA Regulation:

IFSCA (Pension Fund Regulations), 2026

  

IRDAI Guidelines Draft:

IRDAI Information and Cybersecurity Guidelines, 2026


Useful Forms:

ITR eFiling Utilities for AY 2025-26:

Updated as on April 9, 2026:
ITR 1 - Excel Utility

Excel Utilities and Schemas have been updated to include filing u/s 139(8A)

  

Income Tax eFiling Utilities:

Utilities and Schemas have been changed for:

* Common offline utility for Form 3CA-3CD and 3CB-3CD
* Form 10B (A.Y. 2023-24 Onwards)
* Form 10BB (A.Y. 2023-24 Onwards)
* Form 29B
* Form 29C
* Form 3CEB


From the ICAI:

ICAI Publications - Direct Taxation:

The Income Tax Rules, 2026 (Including Tabular Mapping of Rules and Forms vis-a-vis Incometax Rules, 1962 and Forms)


CA's Referencer:

NFRA Reference Material:

NFRA Auditor-Audit Committee Interaction Series 5 -
Dealing with Audit of Provisions, Contingent Liabilities & Contingent Assets – Ind AS 37, SA 540, and SA 501

[Published on March 31, 2026]


Tech Zone – Simplifying Technology for CAs:

Tech-Zone Articles:

How to Know — Before a Crisis — If Your Backup Will Actually Work 

Why Your CA Firm’s Data Is Probably Backed Up… But Not Recoverable


Legal Updates:

Income Tax:

Effective date for DTAA between India and Japan to come into effect [Notification No.56]

The Income-tax (Amendment) Rules, 2026 - Amendment to Rule 128 of The Income Tax Rules, 2026 [Notification No.55]

The Income-tax (Tenth Amendment) Rules, 2026 - Amendment to Rule 10U of The Income Tax Rules, 1962 [Notification No.54]

  

GST:

Advisory: Difficulty in filing appeals on the GST portal in cases where adjudication orders reflect "NIL" demand due to prior voluntary payment

  

MCA:

Explanatory Note - Amendment in Companies (Incorporation) Rules, 2014

Important MCA Update for Directors

  

IBBI:

Valuation Standards for the purpose of valuation conducted under the Insolvency and Bankruptcy Code, 2016

  

RBI:

Guidelines to facilitate faster cross-border inward payments

Limits for investment in debt and sale of Credit Default Swaps by Foreign Portfolio Investors (FPIs)

Floating Rate Savings Bonds, 2020 (Taxable) - FRSB 2020 (T) - Operational Guidelines

Memorandum of Instructions governing money changing activities – Location of Forex Counters in International Airports in India

Risk Management and Inter-Bank Dealings (Revised)

  

FEMA:

Overseas Investment – Submission of References to the Reserve Bank

Reporting under Foreign Exchange Management Act, 1999 – Returns pertaining to Foreign Exchange Management (Guarantees) Regulations, 2026

  

SEBI:

Ease of doing business - mechanism for lock-in of pledged shares under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018

Relaxation from the applicability of SEBI Master Circular for compliance with the provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on non-compliance with the Minimum Public Shareholding (MPS) requirements

One-time relaxation with respect to validity of SEBI Observations

  

IFSCA:

Reporting Norms for Capital Market Intermediaries

Specification of Certification Course for KMPs and other employees of Capital Market Intermediaries under the IFSCA (Capital Market Intermediaries) Regulations, 2025

Specification of Certification Course for KMPs/Employees under IFSCA (Fund Management) Regulations, 2025

Amendment to Circular on Appointment and Change of KMP by an FME

  

IRDAI:

Surveyors and Loss Assessors clarification regarding payment of Annual Fees [Circular]

Clarifications on implementation of Indian Accounting Standards (Ind AS)

Constitution of Joint Expert Group (JEG) on Ind AS-01.04.2026 [Order]

  

DGFT:

Amendment for extension of validity of Minimum Export Price (MEP) on export of Natural Honey [Notification No.9]

Amendment in Export Policy of Feathers [Notification No.8]

Amendment in Export Policy Condition under HSN 1006 of Schedule-II (Export Policy), ITC(HS) 2022 [Notification No.7]

Amendment in description against HS Code 73181500 in Appendix-4R and Appendix-4RE of the RoDTEP Schedule [Notification No.6]

Amendment to the Last date for submission of TRQ Application for India- Mauritius CECPA and India Nepal Treaty notified under Appendix-2Aof the FTP, 2023 for FY-2026-27 [Public Notice No.3]

Procedure for Allocation of Quantities for import of Calcined Petroleum Coke for Aluminium Industry and Raw Petroleum Coke for CPC manufacturing industry for the Financial Year 2026 27 [Public Notice No.2]

Amendments to Para 2.90 of Handbook of Procedures 2023 [Public Notice No.1]

Amendments to Para 2.62 of Foreign Trade Policy 2023 [Notification No.5]

Amendment in Export Policy and Policy Condition of Wood Pellets (HS 44013100) and Wood Briquettes (HS 44013200) under Chapter 44 of ITC (HS) 2022, Schedule-2 (Export Policy) [Notification No.4]

Amendment in Import Policy and Policy conditions of items covered under Chapter 71 of ITC (HS) 2022, Schedule-I (Import Policy) [Notification No.3]

Amendment in Import Policy of Items covered under CTH 7113 under Chapter 71 of ITC (HS) 2022, Schedule-I (Import Policy) [Notification No.2]

Supply of essential commodities to the Republic of Maldives during FY 2026-27 [Notification No.1]

Special drive for expeditious issuance of EODCs under Advance Authorisation (AA) and EPCG schemes - extension up to May 31, 2026 [Trade Notice No.34]

  

Customs:

Procedure to handle export cargo originating from SEZ, in view of disruption in maritime routes due to closure of the Strait of Hormuz- Section 143AA of the Customs Act, 1962 [Circular No.19]

Seeks to amend notification No. 15/2023-Customs (ADD) dated 22.12.2023 to change the name of producer “Bystronic (Shenzhen) Laser Technology Co., Ltd” to “DNE LASER (Guangdong) Co., Ltd.” pursuant to DGTR recommendation [Notification No.4(ADD)]

Notification of ICD at Panoli, Bharuch, Gujarat u/s. 7(1)(aa) of Customs Act, 1962 [Notification No.36(NT)]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.35(NT)]

Assessment of Bills of Entry filed for goods manufactured by SEZ units and cleared to Domestic Tariff Area (DTA) under concessional rate [Circular No.18]

Seeks to exempt AIDC on certain commodities [Notification No.13]

Seeks to exempt BCD on certain commodities [Notification No.12]

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