Daily Newsletter - April 1, 2026

Latest additions to CAalley:

News Update:

Indian News

Budget 2026

International News

Acts & Regulations:

SEBI Master Circular

From the ICAI:

ICAI Announcements

Legal Updates:

Income Tax

RBI

IRDAI

DGFT

Customs

News Update:

Indian News:

New form for correction in PAN related details: check the guideline and how it works

Five big changes in Form 16, which is replaced by Form 130, that every salaried employee must know

April 1 tax reset: New I-T law, TCS cuts, higher F&O levy explained

OTP can’t secure payments: RBI rolls out stricter digital payment rules from April 1 - what is changing

CBIC removes ₹10 lakh cap on courier exports to boost e-commerce trade

Govt allows temporary customs duty relief for SEZ units sold domestically

RoDTEP benefits for exporters extended till Sep 30 amid Iran crisis

RBI extends export credit window till June 30 amid West Asia disruptions

Income Tax Dept signs record 219 advance pricing agreements in FY26

IRDAI approves Ind AS framework for insurers from April 1

ITR filing 2026: Government releases ITR forms for AY 2026–27; check details of ITR-U and ITR-V

Two arrested for posing as GST officials for extortion

RBI defers acquisition financing, capital market norms to July 1

Govt gives 30-day relief to gems, jewellery exporters amid Middle East disruptions; shipment delays prompt easing

Budget 2026:

New I-T law, higher securities transaction tax to kick in from April 1

Govt notifies Finance Act 2026, gives effect to changes in tax provisions

International News:

KPMG outlines key risk areas for internal audit in 2027

Acts & Regulations:

SEBI Master Circular:

Master Circular for Mutual Funds
(To come into effect from April 1, 2026)

From the ICAI:

ICAI Announcements:

One-time Relaxation for Generation of Missed UDINs

Announcement regarding applicability of ‘Guidance Note on Financial Statements of Non-Corporate Entities’ and ‘Guidance Note on Financial Statements of Limited Liability Partnerships’ for annual reporting periods 2025-26 onwards

Announcement on Deferment of Effective Date of SQM 1 and SQM 2

Legal Updates:

Income Tax:

Referencing by Document Identification Number (DIN) [Circular No.4]

Order for specifying Forms and procedures in relation to furnishing Application for PAN Correction under Rule 158(12) of Income-tax Rules

ITR Notified

The Income-tax (Ninth Amendment) Rules, 2026 - Form ITR U [Notification No.52]

The Income-tax (Eighth Amendment) Rules, 2026 - ITR V [Notification No.51]

The Income-tax (Seventh Amendment) Rules, 2026 - ITR 7 [Notification No.50]

The Income-tax (Sixth Amendment) Rules, 2026 - ITR 6 [Notification No.49]

The Income-tax (Fifth Amendment) Rules, 2026 - ITR 5 [Notification No.48]

The Income-tax (Fourth Amendment) Rules, 2026 - ITR 3 [Notification No.47]

The Income-tax (Third Amendment) Rules, 2026 - ITR 2 [Notification No.46]

The Income-tax (Second Amendment) Rules, 2026 - ITR 1 [Notification No.45]

DTAA with Brazil [Notification No.39]

RBI:

RBI (Trade Relief Measures) Directions, 2026

IRDAI:

IRDAI (Actuarial, Finance and Investment Functions of Insurers), (Amendment) Regulations, 2026

DGFT:

Continuation of RoDTEP Scheme beyond March 31, 2026 [Notification No.74]

Amendment to Paragraph 4.43 of the Foreign Trade Policy (FTP) 2023 -One-time relaxation for the Gems and Jewellery Sector [Notification No.73]

Extension in “Free” Import Policy of Tur/Pigeon Peas (Cajanus Cajan) [ITC (HS) 0713 60 00] under ITC (HS) 2022, Schedule – I (Import Policy) till 31.03.2027 [Notification No.72]

Extension in “Free” Import Policy of Urad ([Beans of SPP Vigna Mungo (L.) Hepper]) [ITC (HS) Code 07133110] under ITC (HS) 2022, Schedule –I(Import Policy) till 31.03.2027 [Notification No.71]

Extension in Import period for Yellow Peas under ITC (HS) code 07131010 of Chapter 07 of ITC (HS) 2022, Schedule-1 (Import Policy) [Notification No.70]

Extension in Minimum Import Price (MIP) Condition of specific items covered under Chapter 48 of ITC HS, 2022, Schedule -I (Import Policy) [Notification No.69]

Customs:

Enabling Ease of Doing Business for E-commerce and Courier [Circular No.17]

Courier Imports and Exports (Clearance) Amendment, Regulations, 2026 [Notification No.34(NT)]

Courier Imports and Exports (Electronic Declaration and Processing) Amendment, Regulations, 2026 [Notification No.33(NT)]

Fixation of Tariff Value of Edible Oils,Brass Scrap, Areca Nut, Gold and Silver [Notification No.32(NT)]

Seeks to implement special one-time relief window for clearance of manufactured goods from Special Economic Zones (SEZs) to the Domestic Tariff Area (DTA) at concessional rates of customs duty [Notification No.11]

Seeks to amend notification no. 25/2021-Customs to notify the sixth tranche of tariff concessions under India-Mauritius CECPA [Notification No.10]

Seeks to amend notification no. 22/2022-Customs to notify the fifth tranche of tariff concessions under India-UAE CEPA [Notification No.9]

Seeks to further amend notification 45/2017-Customs dated 30.06.2017 [Notification No.8]