Weekly Newsletter - February 4, 2026

Latest additions to CAalley:

News Update:

Indian News

Budget 2026 News

International News

Exposure Drafts:

SEBI Draft

AICPA Draft

Acts & Regulations:

SEBI Regulation

Useful Forms:

ITR eFiling Utilities for AY 2025-26

CA's Referencer:

CBDT Handbook

Tech Zone – Simplifying Technology for CAs:

Tech Zone Article

Legal Updates:

GST

RBI

SEBI

IFSCA

Customs

Central Excise

 

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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%

Future of CA profession hinges on ethics, judgment, not just technical skills: Sebi chief

Sold land & invested in wife’s name; no tax relief

Higher penalty on bigger cos for eco damage: SC

IBBI chief bats for lesser compliance requirements without reducing regulatory effectiveness

Fruit dealer gets tax notice for unexplained cash credit; he fights back and wins case in ITAT Bangalore

Sebi removes letter of confirmation requirement, allows direct credit of securities to demat accounts

India's GIFT City attracts Lloyd's and other global reinsurers, sources say

How incorrect HRA tax deductions were caught by Nudge campaign

  

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

Budget 2026: I-T dept eyes disposal of over 200K CIT(A) appeals this year

Budget 2026: Buy back proceeds will be taxed as capital gains for shareholders, but promoters pay an extra price

Relief for third parties caught in search cases, budget also tweaks timelines for block assessments

Stricter compliance, CBDT circulars binding on taxpayers responsible for TDS/TCS

10 ways individual taxpayers will be impacted most from Budget 2026

NRI professionals visiting India to get 5-year tax exemption on overseas income: Budget 2026

Budget 2026 has introduced certain retrospective amendments to nullify the impact of certain favourable rulings for taxpayers; Know more

Budget 2026: India offers 20-year tax holiday to foreign cloud firms to boost data centre investments

50% cut in customs duty on personal goods announced in Budget 2026: Check how much you will likely save

Govt raises duty-free baggage limit to Rs 75,000, new rules replace decade-old framework

Budget 2026: New tax deduction on inter-cooperative dividend income under new tax regime announced by Nirmala Sitharaman

Any mistake in the Income tax order will not nullify provided it contains DIN, says Budget 2026

Banking for 2047: Sitharaman proposes high-level committee to review sector under Viksit Bharat

Budget 2026: Safe harbour threshold for IT firms raised to Rs 2,000 crore, at a 15.5% margin

Budget makes tax compliance easier, gives relief in penalties and timelines

Budget 2026 changes SGB tax rules, ends blanket capital gains exemption

Budget tax change weighs on dividend, MF investments made on borrowed money

Budget 2026: PF rule clean-up simplifies tax treatment, keeps limits intact

Budget proposes to set up dedicated REITs to recycle CPSE realty assets

Budget 2026: Accident victims to get full claim amt without tax deductions

Budget 2026 offers six-month window to disclose overseas income and assets

Budget 2026 brings tax relief, investment flexibility for overseas Indians

Budget 2026 'tactical', not a 'breakthrough', says Moody's Ratings

What are the three kartavyas guiding FM Sitharaman's Budget 2026 vision?

Relaxation in conditions for prosecution under the Black Money Act for these taxpayers: Budget 2026 announcement

Short courses, faster jobs: ICAI, ICSI to design skill programmes in Budget 2026 employability push

14 personal finance highlights impacting middle-class taxpayers in FY26-27 from Budget 2026

Income tax slab, new ITR forms, filing due dates, stock buyback taxation; penalty on crypto-related income tax reporting and more

Budget 2026: 10 key announcements for India Inc

Budget 2026 Highlights: STT shock, high-speed rail and big tourism push. Check all important announcements here

Budget 2026 income tax: Top announcements made by FM Sitharaman - check list

Union Budget 2026 key features: Reforms, manufacturing & fiscal discipline take centre stage

Budget 2026: Budget Highlights (Key Features of Budget)

Budget 2026 Documents

Budget 2026: From no mention in Constitution to Sunday presentation — 10 lesser-known facts

Budget 2026 Expectations: ICAI Seeks Tax Reforms For Lower Litigation, Easier Compliance

Economic Survey bats for trust-based e-Way Bill system to ease logistics

Eco Survey calls to link microfinance investor exits to social metrics

  

International News:

[ICAEW] Group auditing: Nine key changes for auditors

Tax revolution in the UAE: E-invoicing will change how you get paid, no more manual VAT fixes

PCAOB Advisory Group Report Calls for Improved Critical Audit Matters, Cites UK’s Superior Disclosures

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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] 

  

AICPA Draft:

Proposed revisions related to alternative practice structures
[Last date for Comments: April 30, 2026] 

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Acts & Regulations:

SEBI Regulation:

SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
[Last amended on January 22, 2026]

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Useful Forms:

ITR eFiling Utilities for AY 2025-26:

Updated as on January 28, 2026:
ITR 3 - Excel Utility

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CA's Referencer:

CBDT Handbook:

CBDT Administrative Handbook 2026
[Published by CBDT]

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Tech Zone – Simplifying Technology for CAs:

Tech Zone Article:

Prompt Engineering for Professionals: Why Better Prompts Don’t Eliminate Risk

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Legal Updates:

GST:

Advisory on Interest Collection and Related Enhancements in GSTR-3B

  

RBI:

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

  

SEBI:

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

Ease of Doing Investment and Ease of Doing Business – Doing away with requirement of issuance of Letter of Confirmation (“LOC”) and to effect direct credit of securities in dematerialisation account of the investor

Ease of Doing Investment – Special Window for Transfer and Dematerialisation of Physical Securities

SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2026

  

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]

Seeks to rescind Notification No. 11/2004-Customs dated 08.01.2004 and Notification No. 27/2016-Customs dated 31.03.2016 in view of new Baggage Rules, 2026 [Notification No.5]

Seeks to amend Notification No. 26/2016-Customs dated 31.03.2016 in view of new Baggage Rules, 2026 [Notification No.4]

Seeks to further amend notification No. 11/2018-Customs, dated the 2nd February, 2018 and notification No.11/2021-Customs, dated the 1st February, 2021 to revise Social Welfare Surcharge (SWS) and Agricultural Infrastructure Development Cess (AIDC) applicable on certain items [Notification No.3]

Seeks to further amend notification No. 45/2025-Customs dated the 24th October, 2025 to notify Basic Customs Duty related changes [Notification No.2]

Seeks to amend five notifications, in order to extend their validity for a further period of two years till 31st March 2028 and make amendments in notification No. 25/2002-Customs, dated the 1st March, 2002 and notification No. 36/2024-Customs, dated the 23rd July, 2024 [Notification No.1]

Seeks to notify the Customs Baggage (Declaration & Processing) Regulations, 2026 [Notification No.15(NT)]

Seeks to notify the Baggage Rules, 2026. [Notification No.14(NT)]

Seeks to amend the Deferred Payment of Import Duty Regulations, 2016 to extend duty deferral facilities for trusted entities from 15 to 30 days [Notification No.13(NT)]

Seeks to add a new class of eligible importers as ‘Eligible Manufacturer Importers’ under Section 47 of the Customs Act, 1962 for duty deferral facility [Notification No.12(NT)]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.11(NT)]

  

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

Seeks to rescind notification No. 5/2023-Central Excise dated 1.2.2023 [Notification No.3]

Seeks to (i) exempt value of Biogas/ Compressed Biogas contained in blended CNG along with appropriate GST paid on it, from the value of such blended CNG for the purpose of calculation of Central Excise duty on such blended CNG and (ii) to defer implementation of levy of additional duty of Rs 2 per litre on unblended diesel till 31st March 2028 [Notification No.2]

Seeks to prescribe effective rates of NCCD on chewing tobacco, jarda scented tobacco and other tobacco products [Notification No.1]