Weekly Newsletter - October 1, 2025
Latest additions to CAalley:
Exposure Drafts:
Acts & Regulations:
Useful Forms:
ITR eFiling Utilities for AY 2025-26
From the ICAI:
International Content:
Legal Updates:
News Update:
Govt invites bids for coal gasification projects under ₹8,500-cr scheme
Rajesh Agrawal takes charge as Commerce Secretary
RBI permits AD banks in Bhutan, Nepal, Sri Lanka to lend in rupees; NRI rules eased
RBI announces measures to help exporters amid high US tariffs
RBI drops 'restriction' on business overlap by banks & group entities
RBI raises threshold for loan against shares, IPO financing
RBI 'enabling framework' to enable banks to finance domestic firms' M&A
RBI proposes four big measures to boost India's banking system
RBI to introduce risk-based deposit insurance premiums, says Malhotra
RBI strengthens consumer grievance resolution
RBI Policy Meeting 2025: Key highlights and governor Sanjay Malhotra’s major announcements
I-T drive to target tax evasion on capital gains in joint deals
Sebi seeks disclosures on promoters’ in-laws
ICICI Bank served GST demand notice of ₹216 crore by tax authorities
New India Assurance ordered to pay ₹2,379 crore by tax authority
Centre issues new guidelines to ensure timely pension and retirement dues
Government extends UPS enrollment deadline
RBI constitutes 6-member Payments Regulatory Board
RBI retains call rate as policy target, discontinues 14-day VRR, VRRR
Govt keeps interest rates on various small savings schemes unchanged
Sebi extends retail algo trading rollout, full compliance by April 2026
Tougher rules on intraday positions to hit F&O traders from tomorrow. How will it impact you?
How RBI’s amendments related to lending may impact lenders and borrowers
Centre extends RoDTEP export incentive scheme until March 2026
Sebi bars Man Industries, top executives for 2 yrs over 'fund diversion'
Trade deal with EFTA to come into effect from Oct 1, says Piyush Goyal
Tax dept to make up for lost jewellery worth Rs 90L
RBI cracks down on 'buy now, pay later'
RBI's MPC starts deliberations on key interest rate; decision on Wednesday
Govt appoints Shirish Chandra Murmu as RBI deputy governor, effective Oct 9
NCH receives 3K GST-related complaints post tax cuts: Consumer Affairs secy
Police act swiftly to freeze bank a/c that received Rs 2 crore through cloned DD
NFRA inspection of Big Four, others to begin by October-end
EPFO launches revamped ECR to streamline return filing by employers
Experts flag tax credit blockage for FMCG distributors despite GST relief
How suspended BOI officer pulled off a ₹16-crore bank fraud
UAE regulator bars HDFC Bank's Dubai branch from new client onboarding amid ongoing scrutiny
RBI imposes monetary penalty on Muthoot FinCorp
CBDT asked to extend ITR filing deadline for tax audit cases, orders Gujarat High Court
New RBI rules make banks fully liable if payment safeguards fail: Details
RBI mandates stronger two-factor authentication in new guidelines
CBDT extends due date for FY25 tax audit report filing to October 31
Tracking hidden info: Income tax to change tack
Tax notice with demand & interest soon for 87A
RBI allows risk-based checks in new digital payment guidelines
GSTAT rollout from Oct to ease GST litigation and unlock business capital
GSTAT launch: One forum for state, Centre GST appeals, says FM Sitharaman
Insurance complaints up 45% in Q2 2025, most about health policies: Report
Cybersecurity, AI, and Economic Uncertainty: How Internal Audit Teams Are Managing 2025’s Top Risks
FRC launches Innovation and Improvement Hub to drive regulatory innovation and market growth
PCAOB inspection report: Ernst and Young Canada lowers audit deficiency rate
Internal auditors expand their scope
Exposure Drafts:
Exposure Draft - Manual on Concurrent Audit of Banks
[Last date for Comments: October 24, 2025]
Draft RBI (Gold Metal Loans) Directions, 2025
[Last date for Comments: October 20, 2025]
Draft Large Exposures Framework (Amendment Circular), 2025
[Last date for Comments: October 20, 2025]
Draft Guidelines on Management of Intragroup Transactions and Exposures (Amendment Circular), 2025
[Last date for Comments: October 20, 2025]
Draft Reserve Bank of India (Credit Information Reporting) (1st Amendment) Directions, 2025
[Last date for Comments: October 20, 2025]
Acts & Regulations:
Master Direction on Framework of incentives for Currency Distribution & Exchange Scheme for bank branches including currency chests
(Updated as on September 29, 2025)
IFSCA (Payments Regulatory Board) Regulations, 2025
Useful Forms:
ITR eFiling Utilities for AY 2025-26:
Updated:
Common Offline Utility (ITR 1 to ITR 4)
Utility for Windows
Utility for MAC
New Release:
From the ICAI:
Guidance Note on Financial Statements of Non-Corporate Entities
[Updated in August 2025]
The Income Tax Act, 2025
(Including Tabular Mapping of Sections vis-a-vis Income-tax Act, 1961)
International Content:
Audit Focus Series
Engagement Acceptance
[July 2025]
Legal Updates:
Order u/s 246(6) of the Income-Tax Act, 1961 for specifying scope of e-Appeals Scheme, 2023
Regarding withdrawal of circular No. 212/6/2024-GST [Circular No.253]
Invoice-wise Reporting Functionality in Form GSTR-7 on portal
FAQ-5 regarding GST Grievance Redressal on National Consumer Helpline
RBI (Lending Against Gold and Silver Collateral) – (1st Amendment) Directions, 2025
RBI (Interest Rate on Advances) (Amendment Directions), 2025
RBI (Settlement of Claims in respect of Deceased Customers of Banks) Directions, 2025
Special Clearing in Cheque Truncation System on October 3, 2025
RBI (Authentication mechanisms for digital payment transactions) Directions, 2025
SEBI (Custodian) Regulations, 1996
(Last amended on September 23, 2025)
SEBI (Custodian) (Amendment) Regulations, 2025
Seeks to give effect to the first tranche of tariff concessions under India-EFTA (Norway) [No.43]
Seeks to give effect to the first tranche of tariff concessions under India-EFTA (Norway) [No.42]
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [No.60(NT)]
Seeks to amend Notification No.50/2017-Customs, dated 30.06.2017 [Notification No.40]
Re-assignment of appeals pending in Nagpur Zone [Order No.05/2025]
