Weekly Newsletter - May 17, 2023
Latest additions to CAalley:
News Update:
Useful Forms:
Acts & Regulations:
Exposure Drafts:
Legal Updates:
News Update:
TDS is applicable on interest earned from Mahila Samman Savings Scheme: CBDT
IBC ecosystem may get common technology
IRDAI lowers the solvency requirement for surety bonds to 1.5 times
Sebi mulls expanding definition of QIB for debt securities
Payments banks approach RBI to rehaul regulations
Sebi slaps Rs 25 lakh penalty on 5 entities for non-genuine trades
Banks request RBI for 1 more year to implement new loan provisioning system
Centre cuts windfall gains tax on domestic crude oil to nil
UPI-related scams account for 55% of total digital payments frauds in India
GST collections: hype and reality
GST dept to get access to banking transactions
Finance companies ask RBI not to rename penal interest as `charges’ to avoid attracting GST
Centre reduces fee for solar PV module ALMM registration, expands validity
Changes in anti-money laundering law can impact foreign investment: CAs
NPCI's RuPay goes live on CVV-less payments for tokenized cardholders
Sebi seeks regulating fractional ownership platforms
Sebi proposes delisting mechanism for non-convertible debt securities
Commerce min reviewing existing guidelines for elections of EPCs, FIEO
IRDAI forms expert panel for advice on mental health cover
Data mismatches to trigger notices under automated GST scrutiny, say experts
Bankruptcy recoveries on the rise
RBI asks banks to complete transition away from LIBOR from July 1
Mumbai: Tax officer & CA acquitted in Rs 2 lakhs bribe demand case
24 big importers found evading Rs 11,000 crore IGST
In win for e-gaming companies, HC quashes Rs 21k crore GST notice
India set to announce compliance details of carbon trading market in June
MCA tightens norms for closure of firms
How will the Reserve Bank of India's new locker norms impact you?
Man arrested for cheating a CA of ₹2 crore
57% of all scams in India are platform frauds, says PwC
CAs flag concerns about glitches in MCA portal
CBIC rolls out module for automated scrutiny of GST returns: FinMin
Pensioners to get 3 months to give consent for diverting additional dues
EPFO issues circular for subscribers to calculate dues and interest rates
New MCA forms for financial statements by July: Govt
IL&FS case: ED searches Deloitte, KPMG’s premises
E-invoicing mandatory from August for B2B supplies by firms with ₹5 cr turnover
EPFO issues FAQs on higher EPS pension, but no clarity on computation
Company slapped with ₹1 Cr penalty for failure to utilise CSR funds
SEBI allows direct access for FPIs in commodity derivatives
AICPA joins coalition to increase awareness of new BOI requirement
ISSB transition respite will provide 'more consistency'
US: Black taxpayers more likely to face audits, IRS confirms
FASAB seeks feedback on its existing standards
Sustainable accounting: The future of talent management
FASB’s tax proposal will ‘change the game’
FASB Seeks to Add Guidance on Profits Interest Awards
China says willing to work with U.S. on audit deal as challenges loom
What US Audit Inspections Mean for Big Four China: Explained
China audits littered with deficiencies, US accounting watchdog finds
New ICAEW hub aims to provide clarity on good professional judgement
Useful Forms:
Income Tax Return eFiling Utilities for ITR 2
Acts & Regulations:
Master Circular – Basel III Capital Regulations
Exposure Drafts:
Consultation paper on Special Rights and Role of Sponsor in REITs and InvITs
[Last date for Comments: May 29, 2023]
Consultation paper on expanding definition of Qualified Institutional Buyers for Debt Securities
[Last date for Comments: May 29, 2023]
Consultation paper on Delisting of Non-Convertible Debt Securities
[Last date for Comments: May 26, 2023]
Regulatory Framework for Micro, Small and Medium REITs (MSM REITs)
[Last date for Comments: May 27, 2023]
IFRS Sustainability Disclosure Standard
Methodology for Enhancing the International Applicability of the SASB Standards and SASB Standards Taxonomy Updates
[Last date for Comments: August 9, 2023]
Proposed Accounting Standards Update
Compensation—Stock Compensation (Topic 718)
Scope Application of Profits Interest Awards
[Last date for Comments: July 10, 2023]
Legal Updates:
The Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2023
Master Circular for Registrars to an Issue and Share Transfer Agents
Master Circular for Stock Brokers
Investment in units of Mutual Funds in the name of minor through guardian
Circular on Surety insurance guidelines to Non Life Insurers
Insurance Policies under Surrogacy Act, 2012 and ART Act, 2021
