Daily Newsletter - November 14, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

SEBI Drafts

Reference Section:

CA's Referencer - Income Tax

Legal Updates:

GST

SEBI

DGFT

Customs

 

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News Update:

Indian News:

SEBI study finds that 1 out of 4 times, listed companies paid royalty exceeding 20% of their net profits to Related Parties

How TReDS is revolutionising payments for MSMEs in India

Banking on tech: Lenders keep an eagle 'AI' on mule accounts

CCI seeks SC intervention to streamline Amazon, Flipkart antitrust cases

ICAI to seek review of NFRA move on audit standards

Severe action to be taken for causing harassment to taxpayers: Sitharaman

MFIs reduce lending rates as RBI voices concerns

FPI-FDI transition to give overseas funds more elbow room, say experts

Sebi mulls raising investment limit by angel fund in startup to Rs 25 cr

SBI, HDFC Bank, ICICI Bank continue to be systemically important: RBI

NFRA board proposes new audit regime in India from April 2026

Sebi simplifies registration of certain categories of FPIs

RBI: Customers can submit online self-declaration for Re-KYC if no changes

New GSTN feature to correct mistakes in GST invoice matching process for claiming input tax credit; Know how it works

Insider trading curbs on all material events is unnecessary

 

International News:

FASB seeks comments on newly proposed interim reporting guidance

PCAOB offers guidance on auditor responsibilities for detecting, reporting illegal acts

New [IFRS] report sets out global progress towards both mandated and voluntary corporate climate-related disclosures

IASB proposes targeted improvements to requirements for provisions

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Exposure Drafts:

SEBI Drafts:

Proposed amendments with respect to assigning responsibility for the use of artificial intelligence tools by Market Infrastructure Institutions, Registered Intermediaries and other persons regulated by SEBI
[Last date for Comments: November 28, 2024] 

Consultation paper on review of regulatory framework for Angel Funds in AIF Regulations
[Last date for Comments: November 28, 2024] 

Consultation paper on Review of SEBI (Custodian) Regulations, 1996
[Last date for Comments: November 28, 2024] 

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Reference Section:

CA's Referencer - Income Tax:

Depreciation Rates (for Income Tax)
[As amended by Finance (No. 2) Act, 2024]

Withholding Tax Rates
[As amended by Finance (No. 2) Act, 2024]

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Legal Updates:

GST:

Advisory on IMS on Supplier View

 

SEBI:

Relaxation from certain provisions for units allotted to an employee benefit trust for the purpose of a unit based employee benefit scheme, Alignment of timelines for making distribution by InvITs and Format of Quarterly Report and Compliance Certificate – Infrastructure Investment Trusts (InvITs)

Relaxation from certain provisions for units allotted to an employee benefit trust for the purpose of a unit based employee benefit scheme, Alignment of timelines for making distribution by REITs and Format of Quarterly Report and Compliance Certificate - Real Estate Investment Trusts (REITs)

 

DGFT:

Fixation of SION at A-3682 under Chemical & Allied Product [Public Notice No.33]

Amendment in Para 4.71 of Handbook of Procedures, 2023 [Public Notice No.32]

 

Customs:

Seeks to amend condition 48 of Notification 50/2017-Customs [Notification No.47]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.79(NT)]

Notification of ICD, Jajpur, Odisha u Sec 7(1)(aa) of the Customs Act 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962 [Notification No.78(NT)]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.77(NT)]

Classification of Clear Float Glass [Circular No.23]

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