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Daily Newsletter - September 20, 2024

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Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

SEBI Draft

Useful Forms:

ITR eFiling Utilities

Legal Updates:

Income Tax

MCA

CCI

SEBI

RBI

DGFT

Customs

 


  

News Update:

Indian News:

ICAI calls for a pause in audit standards revision process by NFRA

500 non-existent firms claimed bogus GST refunds; two more arrested

Drive to identify bogus GST registrations underway

NFRA debars CA Santosh Deshmukh for one year citing serious audit irregularities at Sanwaria Consumer Ltd

Direct tax Vivad se Viswas Scheme 2024 to be operational from Oct 1

RBI lifts gold loan curbs on IIFL Finance

Supreme Court rejects telcos' plea to recalculate Rs 1L crore dues

India to adopt nuanced approach to deal with at risk NPOs after FATF report

Sebi modifies framework for valuation of AIFs' investment portfolio

CCI can appoint agencies to monitor implementation of its orders

CCI's M&A overhaul: Stricter scrutiny, faster approvals under new rules

FATF lauds India's anti-money laundering, terror financing measures

CBDT revises tax appeal limits to ₹60 lakh, ₹2 crore, ₹5 crore to streamline disputes, reduce litigation

FY26 Budget-making process to start in second week of October

Will lot of taxpayers miss the tax audit report deadline due to this glitch on the ITR e-filing portal?

Govt probing allegations by EY employee's mom about firm's work culture

EY staffer's death puts focus on work stress

NPS Vatsalya: Your child can get more than Rs 10 crore on retirement

US Fed cuts interest rates by 50 bps in a first since 2020: Why it matters for India

IRA, SEBI unveil data benchmarking institutions for REITs

 

International News:

BOJ keeps rates steady, upgrades view on consumption

Bank of England keeps main rate on hold at 5% in wake of US Fed cut

US Fed Cuts Interest Rate By 50 bps, Jerome Powell Says Upside Inflation Risks Have Diminished

IASB proposes improvements to the equity method

PCAOB: 5 Good Practices For Auditor Independence


Exposure Draft:

SEBI Draft:

Proposed amendment to SEBI LODR Regulations, 2015 with respect to allowing only electronic mode for payment of dividend or interest or redemption or repayment amounts
[Last date for Comments: October 11, 2024] 


Useful Forms:

ITR eFiling Utilities:

Excel Utility for ITR 3 has been updated


Legal Updates:

Income Tax:

Enactment of Direct Tax Vivad Se Vishwas Scheme 2024 [Notification No.103]

Further enhancement of Monetary Limits for Filing of Appeals by the Department before ITAT, High Courts and SLPs/appeals before Supreme Court [Circular No.9]

 

MCA:

Clarification on holding of Annual General Meeting (AGM) and EGM through Video Conference (VC) or Other Audio Visual Means (OAVM) and passing of Ordinary and Special resolutions by the companies under the Companies Act, 2013 read with Rues made thereunder -Extension of timeline [Circular No.9]

 

CCI:

Notification of section 19(f) of the Competition Amendment Act 2023

The Competition Commission of India (General) Regulations, 2024

 

SEBI:

Ease of Doing Business in the context of Standard Operating Procedure for payment of “Financial Disincentives” by Market Infrastructure Institutions (MIIs) as a result of Technical Glitch

Flexibility in participation of Mutual Funds in Credit Default Swaps (CDS)

Modification in framework for valuation of investment portfolio of AIFs

SEBI (Issue and Listing of Non-Convertible Securities) (Second Amendment) Regulations, 2024

 

RBI:

Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit

Implementation of Section 12A of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005: Designated List (Amendments)

 

DGFT:

Amendment in Chapter 5 of the Handbook of Procedures (HBP) 2023, related to EPCG Scheme to reduce 'Compliance Burden' and enhance 'Ease of doing Business' [Public Notice No.24]

Amendment in Import Policy Condition under ITC(HS) 08028010 of Chapter 08 of ITC(HS) 2022, Schedule-I (Import Policy) [Notification No.30]

 

Customs:

Amendment of Note 3 of Chapter 98 in the First Schedule to the Customs Tariff Act, 1975 [Notification No.62(NT)]


  

  

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