Weekly Newsletter - November 5, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

ICAI Exposure Draft

RBI Draft

IFSCA Draft

Acts & Regulations:

IFSCA Regulation

Useful Forms:

ITR eFiling Utilities for AY 2025-26

CA's Referenfer:

NFRA

Legal Updates:

Income Tax

GST

IBBI

SEBI

IFSCA

DGFT

Customs

News Update:

Indian News:

From Detroit to Seoul, they all want to make in India

'Benchmark for countries': FATF hails India's asset recovery efforts; notes ED's role in returning defrauded funds

NSE IPO: Exchange sets aside Rs 1,300 crore to settle Sebi cases as market listing draws closer

ED, IBBI set new rules to ensure cheated homebuyers, banks get assets back

Jeevan Pramaan 2025: EPFO pensioners get free doorstep service via IPPB

Wife gets Rs 1.85 crore compensation from builder; ITAT Mumbai rules in her favour

Govt to focus on innovation in AI space, regulate when required: IT Secy

Will Sebi’s proposal for performance-based MF fees work?

Sebi to simplify stock-broker rules, ease legacy share transfer hurdles for investors, says chief Tuhin Kanta Pandey

After GST, govt working on next-generation customs reforms: FM Sitharaman

SC upholds CESTAT ruling, rejects ₹244-cr service tax and penalty demand on Airtel

NCLAT overturns CCI ban on Whatsapp sharing user data with Meta platforms

Tax dept used AI to issue income tax notice; Bombay High Court quashes notice, calls process unfair to taxpayer

I-T drops ₹8,500-crore transfer pricing case against Vodafone Group

NFRA rolls out audit toolkit to aid small and medium practitioners

Jeevan Pramaan 2025: How to submit life certificate online or offline

Centre clarifies pension norms: Your last working day could change the game

Getting unclaimed money back: 3 easy steps to reclaim forgotten money in old bank accounts

ICAI seeks measures to mitigate litigation, prevent tax avoidance in pre-Budget suggestions

Cyber police unearth Rs 75.48 crore GST fraud; probe underway

Who is not eligible to submit digital life certificate (Jeevan Pramaan)?

Fired employee returns company laptop only after criminal case filed; Delhi High Court rules against her for withholding office property

Anil Ambani's Reliance in ED storm; more than 40 properties worth ₹3,084 crore attached

EPFO's new enrolment scheme 2025 explained: Here's how it helps workers

With AI coming in, lawyers lose case for billable hours

Tax dept’s Rs 22-crore notice based on WhatsApp chat struck down by ITAT Delhi for lack of credible proof

Simpler tax rules, quicker dispute resolution among key Budget demands

Govt seeks views on allowing FDI in inventory-based e-commerce for exports

Karnataka CA body highlights anomalies in CBDT's due date extension circular

Sebi levies Rs 2.64 cr penalty on 20 individuals for manipulating share price of Quasar India

RBI launches 3 key surveys for monetary policy inputs

Income Tax Tribunal move to back 22% tax on capital gains sparks row

SC stays GST demand on real estate joint development pacts

Why banks in India are changing their domain names?

Bank nomination process to credit card fees: Finance rule changes in Nov

Sebi to penalise MCX for 4-hour trading halt: Report

SEBI defers T+0 settlement deadline for brokers indefinitely

ICAI looks to set a brand new standard

Sebi caps weights in Bank Nifty, tightens index rules to broaden representation

Buyer of property to get Rs 2 crore refund; Telangana High Court order

Some Indian companies have received licenses to import rare earths from China: MEA

Unlisted subsidiaries set to breathe easy on disclosures

Both parents of govt staff 'have to' give life certificates for pension

Income Tax tribunal quashes Rs 445 crore tax demand against Netflix India

International News:

China bans foreign AI chips in state-funded data centres amid US tensions

PwC expects end-to-end AI audit automation within 2026

PwC Australia introduces AI-native platform for the next generation of audit

GenAI Research Tool Offers Information and Insights from AICPA’s Professional Library

How AI agents can aid cyber criminals: ICAEW Insights

China to end rare earth controls, probes against chip companies

Audit Firms Back PCAOB QC Standard Delay; Investors Warn Against Using Deferral for Rule Revisions

IFAC opens doors to accounting with new principles

Deloitte to pay $34mn over audit work on US nuclear fiasco

US Fed cuts rates quarter point, sets end to balance-sheet runoff

Exposure Drafts:

ICAI Exposure Drafts:

Consultation Paper On The Proposed IFSCA (Pension Fund) Regulations, 2025
[Last date for Comments: November 25, 2025] 

Exposure Draft : 13th edition of ICAI Code of Ethics - Request for Comments
[Last date for Comments: November 26, 2025] 

RBi Draft:

Draft circular on Guidelines to facilitate faster cross-border inward payments
[Last date for Comments: November 19, 2025] 

IFSCA Draft:

Consultation Paper on amendments to the IFSCA (Capital Market Intermediaries) Regulations, 2025
[Last date for Comments: November 24, 2025] 

Acts & Regulations:

IFSCA Regulation:

IFSCA (Listing) Regulations, 2024,
as amended up to October 14, 2025

Useful Forms:

ITR eFiling Utilities for AY 2025-26:

Updated as on October 31, 2025:

Common Offline Utility (ITR 1 to ITR 4):
Utility
Utility for MAC

ITR 3 - Excel Utility

Updated on October 30, 2025:

ITR 5
Utility
Utility for MAC
Excel Utility

ITR 6
Utility
Utility for MAC
Excel Utility

ITR 7
Utility
Utility for MAC
Excel Utility

CA's Referenfer:

NFRA:

NFRA Auditor Training Initiative -
NFRA Audit Strategy Memorandum - Sample Document
[Published on November 3, 2025]

Legal Updates:

Income Tax:

CAG's performance Audit report No.1 of 2019 on "Assessment of assesses in entertainment sector- verification of expenses in assessment of Entertainment sector

Extension of timelines for filing of various reports of audit and ITRs for the AY 2025-26 [Circular No.15]

GST:

The CGST (Fourth Amendment) Rules 2025 - GST 2.0: Simplified GST Registration Process [CGST Notification No.18]

Advisory for Simplified GST Registration Scheme

Advisory : Introduction of Import of Goods details in IMS

IBBI:

Undertaking by IPs before Special Courts under PMLA

SEBI:

SEBI (Mutual Funds) (Second Amendment) Regulations, 2025

Implementation of eligibility criteria for derivatives on existing Non-Benchmark Indices

Ease of doing business – Interim arrangement for certified past performance of Investment Advisers and Research Analysts prior to operationalisation of Past Risk and Return Verification Agency (“PaRRVA”)

Ease of doing business measures - Enabling Investment Advisers (“IAs”) to provide second opinion to clients on assets under pre-existing distribution arrangement

Further extension of timeline for mandatory implementation of systems and processes by Qualified Stock Brokers (QSBs) with respect to T+0 settlement cycle

IFSCA:

Modifications under the International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022

DGFT:

Amendment in Export Policy of Red Sanders (Pterocarpus Santalinus) [Notification No.47]

Amendments to the Procedure for Allocation of TRQ for Gold under the India–UAE CEPA [Public Notice No.31]

Inputs on Draft Amended Aayat Niryat Forms (ANF) (One Format for all kinds of Applications) for grant of SCOMET Authorisation for Export of SCOMET Items [Trade Notice No.17]

Procedure for refund of application fees deposited by applicants for Tariff Rate Quota (TRQ) for import of Gold Bullion under India-UAE CEPA for 2025-26 [Trade Notice No.16]

Revision of exporter eligibility criteria for registration on “Source from India” service of Trade Connect ePlatform [Trade Notice No.15]

Customs:

Authorised Officers under Section 25 read with Section 47(5) of Food Safety Standards (FSS) Act, 2006 and Regulation 13(1) of FSS (Import) Regulation, 2017 [Instruction No.31]

Customs FAQs regarding Notification No.s 44 and 45

Corrigendum to Notification No.45/2025 -- Customs dated 24.09.2025

Corrigendum Notification No.44/2025 -- Customs dated 24.09.2025

Corrigendum Notification No.37/2025- Customs dated 17.09.2025

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.72(NT)]

Continuation of online application facility under MOOWR Scheme- hosted on Invest India Portal [Circular No.27]

Guidelines regarding Revision of Entries post Customs Clearance under section 18A of the Customs Act, 1962 [Circular No.26]

Seeks to amend notification 64/2023-customs dated 7th December, 2023 to make the nil duty concession to imports of Yellow Peas [HS Code 0713 10 10] covered under bill of lading issued on or before 31st October, 2025 [Notification No.47]

Seeks to impose import duty of 30% on Yellow Peas (HS 0713 10 10), leviable on all Bill of Lading issued on or after 1st November, 2025 [Notification No.46]