CAalley Newsletter for the week ending March 8, 2023
Latest additions to CAalley:
News Update:
Acts & Regulations:
SEBI Master Circular & Regulations
Useful Forms:
From the ICAI:
Standards of Auditing - SA 580
International Content:
International Ethics Standards Board for Accountants [IESBA]
Legal Updates:
News Update:
India imposes money laundering provisions on cryptocurrency sector
Govt issues guidelines to hold influencers responsible; safeguard consumers
SEBI seeks to step up sway over boards of bourses, clearing corporations
Sebi framework for cloud services adoption
Sebi frowns on assured returns, asks MFs to remove related ads, brochures
ITAT: Cultivate agricultural land for capital gains tax sop
Online gaming cos move CBDT, PMO to oppose tax rules
Govt to bring retail trade policy to promote ease of doing biz: Official
RBI launches mission to make every citizen a user of digital payment
Govt removes basic customs duty of 10% on whole tur to check local prices
No sale of gold jewellery without hallmark from April 1
SEBI stops incentive of mutual funds for selling beyond top 30 cities
Govt not in 'crazy rush' to sell everything: FM Sitharaman
Goods and services exports may cross $750 bn-mark this fiscal: Piyush Goyal
Cos add mental care to health covers globally
Govt slashes windfall tax on diesel to Rs 0.50 per litre, nil on ATF
EPFO clause makes opting for higher pension nearly impossible
ED raids 12 places in Nagpur, quizzes top chartered accountants
Implementation of certain norms could perpetuate existing market dominance: CEA
RBI slaps Rs 3.06 cr penalty on Amazon Pay (India) for violation of norms
Not very satisfied with present performance of fast track special courts: Rijiju
Credit rated Indian banks can move over to IFRS 9: S&P Global Ratings
RBI launches 2 surveys to gather 'useful inputs' for monetary policy
UK: Sanctions against PwC and two former audit partners
IASB retains impairment-only goodwill model in M&A
New standard provides risk-based approach to group audits
KPMG working on tackling decarbonisation goals
Seven key takeaways from the IFRS Sustainability Symposium
ESG reporting muddled by jumble of standards: IFAC
EU auditors: Time to simplify the complex EU financial landscape
Canadian audit regulator issues enforcement action against US accounting firm
FASB studies AI use in financial data analysis
FRC announces revisions to Technical Actuarial Standard 100
IESBA releases final code revisions to group audits
CFOs struggle to move past ‘transactional’ responsibilities
Acts & Regulations:
SEBI Master Circular & Regulations:
Master Circular for Foreign Venture Capital Investors (FVCIs)
SEBI (Depositories and Participants) (Amendment) Regulations, 2023
Useful Forms:
MCA Forms [Updated as on March 2, 2023]
From the ICAI:
Implementation Guide to SA 580, Written Representations
International Content:
International Ethics Standards Board for Accountants [IESBA]:
[Published in February 2023]
Revisions to the Code Relating to the Definition of Engagement Team and Group Audits
Legal Updates:
Corrigendum: Changes in Income Tax Forms [No.11]
Amendments to Income Tax Forms [No.8]
MCA Announcement for CA and CS
IEPF Public Notice related to company issues
Exemption under Section 10 of the Income-tax Act, 1961
Operational Guidance - Amendment to SEBI (Buy-back of Securities) Regulations, 2018
Linking of PAN with Aadhaar to be done by March 31, 2023 [Press Release]
Framework for Adoption of Cloud Services by SEBI Regulated Entities (REs)
Rectifiable labelling information for imported food consignments [Instruction No.9]
Exchange rate Notification No. 12/2023-Cus (NT) dated 02.03.2023 [No.12(NT)]