Weekly Newsletter - April 30, 2025
Latest additions to CAalley:
News Update:
Exposure Drafts:
Acts & Regulations:
Useful Forms:
ITR eFiling Utilities for AY 2024-25
From the ICAI:
Legal Updates:
News Update:
Sebi cautions investors on opinion trading platforms
Ministry of Finance initiates search for a new whole-time member for Sebi
'Digital access a fundamental right': Supreme Court rules to make e-KYC accessible for disabled
RBI launches 3 surveys for inflation, consumer confidence, policy input
Justice BR Gavai appointed next Chief Justice of India, oath on May 14
Sebi extends deadline for optional T+0 settlement for QSBs to Nov 1
IndusInd CEO Sumant Kathpalia resigns over derivative accounting lapses
Lavish holidays? Get details ready for new ITR form
Sebi proposes framework for winding down of KYC registration agencies
Error-free UPI transactions: NPCI bans nicknames in UPI payments - here’s how it will benefit users
Gifting dollars to NRI kids? RBI's 180-day rule could trip wealthy Indians
Sebi comes out with timelines for brokers to collect margins
ED conducts search operations at Gensol Engineering; seizes documents
One of first trade deals may be with India, says US treasury secy Bessent
Sebi bars Patel Wealth Advisors, 4 directors over 'order spoofing' charges
Levy 28% GST On Quick Commerce, Ecommerce Firms: Cait To Govt
RBI's new ATM transaction rules take effect from May 1
Missed your NPS contribution? Unfreeze your account with these steps
Incorrect accounting of derivatives trades led to IndusInd Bank fiasco: GT
Centre unveils guidelines for ₹22,919 cr electronics manufacturing scheme
Delhi court sends I-T Dept officer, CA to 3-day custody for 'sabotaging' faceless assessment scheme
Sebi tweaks framework for ESG Rating Providers using subscriber-pays model
Government notifies rules for GST appellate tribunals
EPFO eases PF transfer on job change, drops employer approval need
India may allow up to 49% foreign investment in nuclear power plants
Companies can't claim tax deduction on regulatory settlements, says govt
One time tax settlement scheme 2025 by Haryana govt
Tax filing gets easier: New Form 16 format may change how you file ITR, claim refund
Sebi picks 9 audit firms to probe corporate fraud
SEBI to tighten rules on round-tripping after Gensol scam
Sebi facilitates ease of doing biz for SM REITs
Sebi imposes Rs 10 lakh fine on Future Retail
'Made in South Korea': How Chinese companies are allegedly 'evading' Trump tariffs
US tariffs likely to hit India's growth directly by as much as 0.5% points, says FinMin Secy
Audit rotation kicks off. Who will bag India Inc's big mandates?
ICAI to review Gensol and BluSmart financial statements
New NPS account closure rules: PFRDA issues rules to close NPS accounts for these accountholders
FASB’s draft rules could harm environmental credit markets, EDF says
IAASB tweaks standards on outside experts
PCAOB Punishes NYC-Based CPA Firm and Managing Partner For ‘Substandard Audit Work,’ QC Violations
Why going paperless is now a strategic move for accountancy firms
Exposure Drafts:
Consultation paper on amendment to Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 with the objective of mandatory de-materialization of existing securities of select shareholders prior to IPO
[Last date for Comments: May 20, 2025]
Consultation paper on Framework for Orderly Winding Down of Critical Operations and Services of a KYC (Know Your Client) Registration Agency (KRA)
[Last date for Comments: May 20, 2025]
Proposed Narrow-Scope Amendments to IAASB Standards Arising from the IESBA’s Using the Work of an External Expert Project
[Last date for Comments: July 24, 2025]
Acts & Regulations:
Master Direction on Framework of incentives for Currency Distribution & Exchange Scheme for bank branches including currency chests
[Published on April 24, 2025]
SEBI (Infrastructure Investment Trusts) Regulations, 2014 [Updated upto April 29, 2025]
SEBI (Credit Rating Agencies) Regulations, 1999 [Updated upto April 23, 2025]
SEBI (Real Estate Investment Trusts) Regulations, 2014 [Updated upto April 23, 2025]
Useful Forms:
ITR eFiling Utilities for AY 2024-25:
The following utilities have been updated:
Common Offline Utility (ITR 1 to ITR 4)
- Windows Utility
- MAC Utility
ITR 5
- Windows Utility
- MAC Utility
ITR 6
- Windows Utility
- MAC Utility
From the ICAI:
Background Material on GST - Volume 1 & 2
[Published in January 2025]
Legal Updates:
FAQs on Notification No.38/2025
FAQs on Notification No.36/2025
Deduction to be disallowed for settlement proceedings under specified laws [Notification No.38]
The GST Appellate Tribunal (Procedure) Rules, 2025
Processing of Regulatory Authorisations/ Licenses/ Approvals through PRAVAAH
Dispensation of ₹100 and ₹200 denomination banknotes through ATMs
Amendments to Directions - Compounding of Contraventions under FEMA, 1999
Exports through warehouses in ‘Bharat Mart’ in UAE – relaxations
Clarificatory and Procedural changes to aid and strengthen ESG Rating Providers (ERPs)
SEBI (Infrastructure Investment Trusts) (Second Amendment) Regulations, 2025
Timelines for collection of Margins other than Upfront Margins – Alignment to settlement cycle
The SEBI (Credit Rating Agencies) (Second Amendment) Regulations, 2025
SEBI (Real Estate Investment Trusts) (Amendment) Regulations, 2025
Fixation of SION No. A-3685 [Public Notice No.3]
Appointment of Common Adjudicating Authority (CAA) in respect of 77 cases [Notification No.29(NT)]
Goods Imported (Conditions of Transshipment) Regulations, 2025 [Notification No.30(NT)]
Simplification of procedures related to Air Cargo Movement & Transhipment [Circular No.15]
Re-assignment of appeals pending in Kolkata Zone [Order No.04/2025]
