Weekly Newsletter - December 3, 2025
Latest additions to CAalley:
Exposure Drafts:
Acts & Regulations:
RBI Master Circulars / Directions for 2025-26
Useful Forms:
ITR eFiling Utilities for AY 2025-26
Legal Updates:
News Update:
Lok Sabha passes Central Excise (Amendment) Bill ahead of GST cess phaseout on ‘sin goods’
New labour codes may reduce take-home salary, but lower tax outgo
Sebi introduces single window gateway for low risk foreign investors
DPIIT chief asks industry to make realistic demands on deregulation, safety
Implementation of new labour codes likely by April 2026: Labour Minister
Due to error in ITR, tax exemption can’t be denied
New tax regime allowed without filing Form 10IC
Govt pensioners get 2 more investment options: NPS, UPS terms explained
KYC rules revised for NRIs, OCIs: What changes for NPS onboarding
WhatsApp chats rarely hold as evidence in income tax cases, say tribunals
Working from home is harming young employees
PFRDA plans to create NPS fund-of-funds to channelise money to select AIFs
Revised ITR won't save you: Foreign asset errors can trigger penalty, probe
Digitalisation, financial products call for global tax info exchange: FM
Son wins mother’s gold seizure case in ITAT: Know what CBDT gold jewellery circular says
Man sells house & moves to Australia; gets tax notice
Centre to sell up to 6% stake in Bank of Maharashtra via OFS for ₹2,500 cr
EPFO disposes 99% of higher-pension cases under EPS after SC ruling
No proposal on merger or consolidation of banks before govt presently: MoS Finance
RBI Ombudsman complaints rise 13.6% in FY25, led by loan and card issues
Preity Zinta wins ₹10cr cash credit case in ITAT
Govt instructs banks to mail monthly pension slips
Over 2 lakh private firms shut in five years, Govt tells Lok Sabha
Govt blocks 87 illegal loan lending applications after due process
Govt simplifies approval process for exploration of coal, lignite
Financial fraudsters turning business accounts into mules for illicit fund transfers
EPFO pension and PF cover to self-employed, gig staff? Here's what we know
Budget wishlist: Green finance institute among CII proposals
Private companies may get to service non-railway entities' wagons
Bills to replace GST compensation cess on tobacco, pan masala likely in LS
SC raps Income Tax Department for filing appeal in decided matter
NCLAT dismisses insolvency plea against Voltas, upholds NCLT order
IBC misuse, rigging of bids before NCLT under scanner
NFRA to get powers to draft regulations
RBI tells MFIs: Time to focus on borrowers' income stability
RBI scraps 5,673 circulars; issues 244 master directions to streamline rules
Mines ministry notifies new royalty rates for 4 critical minerals
GST authority imposes Rs 41 cr penalty on Torrent Pharmaceuticals
India expects US trade deal by end of 2025 as most issues resolved: Report
A ₹2,000 reward: Sebi's new plan to turbocharge MF reach in smaller cities
Worried if your digital life certificate is accepted? Here's how to check
Sebi cancels registration of 68 investment advisers for non-payment of renewal fee
New banking connect platform to give RBI real-time oversight of transfers
ED widens net globally against online gaming
CAG Sanjay Murthy launches centre to modernise financial audits with advanced tech
RBI takes practical stance on family trusts and investment cos
Regulators considering review of strict currency derivatives rules
Small and mid-sized law firms rush to merge for scale
Supreme Court caps TDS on foreign remittances at 10%, says Income Tax Act cannot override DTAA
Shocking games: ED arrests WinZO founders in PMLA case
CBI busts bribe-for-orders racket in ITAT, Jaipur; judicial member among arrested
Tax collection should be smooth process with minimum discomfort to taxpayer: President Murmu
FASB Releases New Standard Clarifying Certain Aspects of Hedge Accounting Guidance
AI and the audit: Finance leaders strongly support forward-thinking firms
Trust in audit on the rise: ICAEW
Exposure Drafts:
Draft MCA, SFIO, Assistant Director (Digital Forensics), Senior Assistant Director (Digital Forensics) and Deputy Director (Digital Forensics) Recruitment Rules, 2025
[Last date for Comments: January 2, 2026]
Draft Circular- Disclosure of registered name and registration number by SEBI regulated entities and their agents on Social Media Platforms
[Last date for Comments: N/A]
Consultation Paper on the Proposed IFSCA Good Delivery Guidelines 2025
[Last date for Comments: December 31, 2025]
Consultation Paper on Master Circular for Broker Dealers and Clearing Members
[Last date for Comments: December 20, 2025]
Consultation Paper on Guidelines on Cyber Security and Cyber Resilience for the Market Infrastructure Institutions (MIIs) in IFSC
[Last date for Comments: December 16, 2025]
Acts & Regulations:
RBI Master Circulars / Directions for 2025-26:
Major overhaul in RBI Master Directions as on November 28, 2025.
Many past circulars have been consolidated.
Check out the newly published Master Directions.
Useful Forms:
ITR eFiling Utilities for AY 2025-26:
Updated as on December 1, 2025:
ITR 5:
Offline Utility
Offline Utility for MAC
ITR 6
Offline Utility
Offline Utility for MAC
Excel Utility
Updated on November 28, 2025:
Common Offline Utility (ITR 1 to ITR 4)
Common Offline Utility for MAC (ITR 1 to ITR 4)
Enhancing Tax Transparency on Foreign Assets and Income
(Revised - November 20, 2025)
Updated as on November 27, 2025:
ITR 3 - Excel Utility
ITR 5 - Excel Utility
ITR 6 -
Common Utility
MAC Utility
Excel Utility
Schema
ITR 6 -
Common Utility
MAC Utility
Excel Utility
Legal Updates:
Consolidation of Regulations – Withdrawal of circulars
Compliance with Know Your Customer (KYC) norms
RBI (Universal Banks – Licensing) Guidelines, 2025
RBI (Setting Up of Wholly Owned Subsidiaries by Foreign Banks) Guidelines, 2025
SEBI (Foreign Venture Capital Investors) (Amendment) Regulations, 2025
SEBI (Foreign Portfolio Investors) (Second Amendment) Regulations, 2025
SEBI (Research Analysts) (Second Amendment) Regulations, 2025
SEBI (Investment Advisers) (Second Amendment) Regulations, 2025
Amendment in Para 6.34 of Chapter 6 of Handbook of Procedure 2025-26 [Public Notice No.34]
Amendments in Paras 4.87 (a) and 4.88 of Handbook of Procedures 2023 [Public Notice No.33]
Seeks to amend further the Project Import Regulations, 1986 [Notification No.49]
