Weekly Newsletter - September 17, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

MCA Draft

Acts & Regulations:

RBI Master Direction

SEBI Regulations

Useful Forms:

Income Tax Form

Useful Forms:

ITR eFiling Utilities for AY 2025-26

CA's Referencer:

NFRA

International Content:

IFRS for SMEs modules

Legal Updates:

Income Tax

GST

SEBI

IFSCA

Customs

News Update:

Indian News:

Central govt notifies CGST rates for goods effective September 22

RBI sets up regulatory review cell, norms to be revisited every 5-7 years

PFRDA proposes NPS exit, withdrawal rule changes; seeks feedback by Oct 17

Sebi mulls allowing FPIs in non-cash, non-agri commodity derivatives

IRDAI launches Bima Sugam: One-stop insurance marketplace, here’s how it works

Cybersecurity audits mandatory for crypto exchanges amid rising thefts

Recent case: He sold family ancestral land for Rs 1 crore and showed Rs 2.45 lakh as income in ITR; won case in ITAT Chennai due to this reason

I-T dept conducts survey op against Marico Group over alleged tax evasion

ICICI Bank gets ₹49 crore GST demand over alleged short payment of tax

Land data to be digitised with ownership rights

Coming soon: Much larger spread for NPS subscribers

Sebi extends settlement window till Oct 16 for stock brokers in algo trading case

GST rejig: No input tax credit for insurers on brokerage, CBIC clarifies

Pass on GST cut benefits fully: Finance ministry to insurers

In AI world, regulation must keep pace with tech: FM Nirmala Sitharaman

785 audit firms of listed companies fail to file statutory returns for FY24

GST discounts for customers: Govt issues key new directive to sellers

RBI issues guidelines regulating payment aggregators

CCI raids steel makers Jindal Saw, Maharashtra Seamless in antitrust case

Sebi signals more relaxations to ease onboarding of foreign investors

Sebi's latest reform can reshape investor portfolio

White goods PLI scheme reopened, applications can come in till Oct 14

'If you have original intelligence, AI cannot harm you': ICAI President Nanda on future ...

Insurance Amendment Bill likely in Winter session, says FM Sitharaman

CBIC clarifies GST on post-sale discounts, no ITC reversal for buyers

RBI fines PhonePe ₹21 lakh for non-compliance with PPI regulations

Sebi widens IPO anchor book to include insurers and pension funds, raises reservation to 40%

US SEC grants tech giant Infosys exemptive relief for ₹18,000 crore buyback

He got Rs 89 lakh as gift from relatives; Tax dept doubted its genuineness, but ITAT Mumbai ruled in his favour: Here’s why

ITR deadline extension: Now even BJP MPs write to Finance Minister to extend income tax return filing due date

India-EU FTA: Piyush Goyal hosts European commissioners; both sides reaffirm commitment to 'early conclusion'

Big Four partners, top professionals hit with Income Tax notices over ‘exempt income’ claims

Income Tax Department finds Rs 5 crore cash in his house; Know how a 2008 circular saved him from prosecution

RBI may give lenders key power to lock your phones in this case

FinMin asks CGST field offices to submit MRP change data after Sep 22

Deloitte US asks India staff to return to office two days a week

Sebi allows co-investment window inside alternative investment funds

Sebi cancels registration of 18 investment advisers for fee non-payment

Income Tax fraud worth Rs 500 crore unearthed in Pune: IT officials search for beneficiaries

Mumbai CA arrested for 12 crore for fake input tax credit racket

International News:

How the PCAOB Can Promote Technology Use in Auditing

Global trust in chartered accountants rises in AI world

The future is here: ICAEW launches the Next Generation ACA

PCAOB posts technology in audit recommendations

Exposure Draft:

MCA Draft:

Establishment of Indian Multi-Disciplinary Partnership (MDP) firms
[Last date for Comments: September 30, 2025]

Acts & Regulations:

RBI Master Direction:

Master Direction on Regulation of Payment Aggregator (PA)
[Published on September 15, 2025]

SEBI Regulations:

SEBI (Alternative Investment Funds) Regulations 2012
[Last amended on September 9, 2025]

SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
[Last amended on September 8, 2025]

SEBI (Real Estate Investment Trusts) Regulations, 2014
[Last amended on September 3, 2025]

SEBI (Infrastructure Investment Trusts) Regulations, 2014
[Last amended on September 3, 2025]

Useful Forms:

Income Tax Form:

The following form has been updated:
Form No. 7
Notice of demand under section 156 of the Income-tax Act, 1961
PDF & Fillable

ITR eFiling Utilities for AY 2025-26:

The following ITR eFiling Utilities have been updated:

Common Offline Utility (ITR 1, ITR-2 and ITR 4)
Offline Utility - ITR 5
Excel Utilities for - ITR 1 to 5 & ITR 7

CA's Referencer:

NFRA:

NFRA-2 Annual Return - Know ‘Why’ & ‘How’
[Published on September 12, 2025]

International Content:

IFRS for SMEs modules:

Module 11—Financial Instruments

Legal Updates:

Income Tax:

Extension of due date for filing of ITRs for the Assessment Year 2025-26 [Circular No.12]

GST:

GST 2.0 Rate Notification to implement the recommendations of the 56th GST Council [Central Tax (Rate) Notification No.9]

FAQs - 2 on GST 2.0

Clarification on various doubts related to treatment of secondary or post-sale discounts under GST [Circular No.251]

SEBI:

Revised regulatory framework for Angel Funds under AIF Regulations

Ease of regulatory compliances for FPIs investing only in Government Securities

SEBI (Alternative Investment Funds) (Second Amendment) Regulations, 2025

SEBI (Issue of Capital and Disclosure Requirements) (Second Amendment) Regulations, 2025

SEBI (Employees’ Service) (Amendment) Regulations, 2025

SEBI (Listing Obligations and Disclosure Requirements) (Third Amendment) Regulations, 2025

IFSCA:

Regulatory Framework for Global Access in the IFSC - Amendments

IFSCA (Capital Market Intermediaries) Regulations, 2025 - Extension of deadline for compliance with revised net worth requirements

Market Access through Authorized Persons on Bullion Exchange

Customs:

Fixation of Tariff Value of Edible Oils,Brass Scrap, Areca Nut, Gold and Silver [Notification No.56(NT)]

Customs (Finalisation of Provisional Assessment) Regulations, 2025 [Notification No.55(NT)]

Implementation of Customs (Provisional Assessment) Regulations, 2025 [Circular No.22]

Strengthening Trade Facilitation through Institutionalised Consultation Mechanisms [Circular No.21]

Exemption From Quality Control Order (QCO) On Importof Aerospace Grade Hydrogen Peroxide for Non-Commercial R&D Application [Instruction No.29]