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The alley for Indian Chartered Accountants

CAalley Newsletter dated September 5, 2022

Latest additions to CAalley:


Indian News

International News

From the ICAI:

ICAI Announcement

Legal Updates:

Income Tax







Indian News:

GST Rules amendment on registration cancellation: HC issues notices to Centre, Maha

RBI imposes penalties on five co-operative banks for non-compliance

Public sector banks to open 316 branches in financial inclusion drive

Will soon come up with new version of Data Protection Bill: IT Minister

Banking system healthy enough to withstand external headwinds: Shaktikanta Das

Individuals borrow more, corporates deleverage

Tax stability for businesses to bond inclusion in global index; 5 highlights from FM Sitharaman’s speech today

Online gaming: Lens on winners to pay taxes, update ITRs

EPFO backs raising retirement age to ease pressure on pension funds

Over 1.55 lakh updated ITRs filed in May-September

Government should not be running businesses; can't have industrial growth from taxation: Maruti chairman

GST on renting out residential units: Clarification from policymakers must to avoid frivolous litigations

Settlement, commitment framework will help ensure faster market corrections: CCI chief Ashok Kumar Gupta

PSU banks to open about 300 branches in unbanked areas by Dec 2022: Report

25 lakh households get zero electricity bills: Punjab Power minister Harbhajan Singh

What is a currency swap?

I-T refunds of Rs 1.14 lakh crore issued between April-August

Indian Forex reserves decrease by $3 billion to $561.046 billion according to RBI data

Insurers may pass on commission costs

Banking on awareness to tackle cyber fraud

Return to workplace may ease moonlighting concerns in IT industry: Experts

Sebi issues guidelines for brokers providing algorithmic trading services

Ombudsmen disposed of 32% more complaints against insurers in 2021-22

Taxmen can launch prosecution in cases of over Rs 5 crore GST evasion

RBI issues guidelines for digital lending: Lenders can no longer levy hidden charges

RBI gives lenders time till end-November to comply with new digital rules

India keen to settle sovereign bonds domestically to help with CAD

'Think of the worst': RBI Governor Das nudges banks to raise capital

Direct tax collections may exceed budget targets, CBDT chief says

Effect of rate hikes still unclear: RBI MPC member Varma

SEBI rejigs panel on cyber security; expands to six members



International News:

New global sustainability disclosure standards won’t bring quick local relief

Grant Thornton charged with audit failure of iSignthis

FASB crypto accounting rules to exclude NFTs, some stablecoins – WSJ

IRS reduces tax return backlog as AICPA urges penalty relief extension



From the ICAI:

ICAI Announcement:

MCA 21 Version 3- LLP filing and Company Filing for 9 Forms



Legal Updates:

Income Tax:

The Income-tax (29th Amendment) Rules, 2022




Notification u/s 55(2) of the Insolvency & Bankruptcy Code,2016

Extension of period of the Company Law Committee




Performance/return claimed by unregulated platforms offering algorithmic strategies for trading




Guidelines on Digital Lending




Guidelines on Information and Cyber Security

Appointment or Continuation of Common Director(s) u/s 48A of Insurance Act,1938



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