Weekly Newsletter - May 31, 2023
Latest additions to CAalley:
News Update:
Reference Section:
International Content:
Useful Forms:
Income Tax Return eFiling Utilities
Exposure Drafts:
Legal Updates:
News Update:
Deloitte flags Adani Port transactions citing 'insufficient disclosures'
Sebi proposes enhanced disclosure requirements for high-risk FPIs
RBI Dy Guv calls for better risk management, governance at banks
Amfi to form ethics panel to curb misconduct in asset management companies
‘HTM bond sales to hurt banks, but not as badly as in U.S.’
Regulators step up scrutiny ahead of review by global money laundering watchdog
Income Tax department notifies e-appeals scheme to ensure electronic filing
‘Sebi fee review to make a big dent in MFs’ profits’
No penalty if GST no. not put up outside firms, bizmen told
MP: Two held for GST fraud of more than 12 cr in Indore
Organisations adopting sustainability reporting get competitive edge
"Individual directors should not have any conflict of interest," says RBI Governor
RBI governor warns bank boards against overaggressive growth, evergreening
RBI reviews bond value norms that shield banks
Sebi may soon ease compliance norms for PE, VC funds in India: Report
Angel tax: Startups await clarity on 'missed targets'
Angel tax: Experts seek 10% safe harbour for convertible preference shares
Now income proof mandatory for Rs 10 lakh investments in small savings schemes
CFOs to be blamed for most of frauds, says SEBI WTM Mohanty
Courts staying GST demands till tribunal is set up
Banks, CBI spar over nod for action on fraud loans
NCLAT sets aside NCLT order on Zee-Sony merger
Sebi to issue mutual fund light regulations for passive funds; seeks to ease compliance burden
Govt. trying to link TCS on overseas spends to local TDS to smoothen cash flows: CEA
CBIC extends April GST return filing deadline for Manipur biz till May 31
Leave encashment limit for non-govt employees hiked to Rs 25 lakh: CBDT
Investment in start-ups from 21 nations will be exempt from angel tax
If you don't reply to income tax dept's queries, ITR likely to be picked for full scrutiny: CBDT
Tax dept to act on specific evasion data
SBI penalised for sending bills to man despite credit card's expiry
SEBI tightens reporting requirements for offshore funds
Sebi mulls prohibiting differential rights to AIF investors
IPSASB issues package of measurement-related pronouncements
IASB Issues Disclosure Rules to Boost Transparency around Terms of Supplier Finance Arrangements
FRC: Scalebox launched to promote competition and quality for smaller audit firms
ChatGPT aces CPA exam after prior version flunked
ICAEW: New risks revealed in the traditional banking model
Reference Section:
Liberalised Remittance Scheme (LRS) FAQs
Regular visitors of the previous versions of CAalley have been asking us to upload the articles that were published at that time.
We have published a few handpicked ones which can be referred to even today conceptually.
Hope you all find it helpful.
International Content:
Global Fight, Local Actions:
Anti-Corruption Advocacy Workbook for PAOs
Useful Forms:
Income Tax Return eFiling Utilities:
Validation Rules for ITR 1 to ITR 4
Income Tax Return eFiling Utilities for ITR 3
Exposure Drafts:
Draft Rule 11UA regarding Method for Computation of Fair Market Value of Unquoted Equity Shares for the purposes of section 56(2)(viib) of the Income-Tax Act, 1961
[Last date for Comments: June 5, 2023]
Consultation Paper on Framework for mandating additional disclosures from FPIs that fulfil certain objective criteria
[Last date for Comments: June 20, 2023]
Consultation Paper - Corporate Governance Code
[Last date for Comments: September 13, 2023]
Legal Updates:
Income Tax Seventh Amendment Rules, 2023 - Amendment of Rule 11AA [No.34]
e-Appeals Scheme, 2023 [No.33]
Income Tax Sixth Amendment Rules, 2023 - Amendment to Form No.35 [No.32]
Leave encashment limit for non-govt employees notified [Notification No.31]
Investment from 21 countries to be exempt from angel tax [Notification No.29]
Advisory on Filing of Declaration by GTA opting to pay tax under forward charge mechanism
Advisory on due date extension of GST Returns for the state of Manipur
Standard Operating Procedure for Scrutiny of Returns for FY 2019-20 onwards [Instruction No.2]
GST Due Date extension - 3 notifications for Manipur
NCLT Order regarding production of Information Utilities Record
Post Office Saving Schemes: Income Proof mandatory for Investments over Rs.10 lakhs
Amendment under Interest Equalisation Scheme [No.5]
Clarification on Classification of product DHA Algal Oil [Instruction No.18]