Daily Newsletter - July 4, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

IBBI Draft

FASB Draft

Acts & Regulations:

RBI Directions

Useful Forms:

ITR eFiling Utilities for AY 2026-27

Legal Updates:

Income Tax

GST

IBBI

IFSCA

News Update:

Indian News:

SEBI proposes INR-based registration fee payment for FPIs, FVCIs to simplify processes

Why India’s Central Bank Wants Crypto Out of the Banking System?

RBI imposes ₹66.7 lakh penalty on Bank of Baroda, GIC Housing Finance

Tax department steps up scrutiny of charitable trusts over disclosure mismatches

To avoid legal battles, ED settles 150 Fema cases with RBI nod

AI was meant to cut costs. Why is it becoming the biggest new expense?

SC sets motor accident compensation rules: ITR may decide payment

PF above ₹1,800 now formally voluntary: What changes under EPF Scheme 2026

Temporary-status govt workers can get pension without regularisation: SC

Sebi bars 222 individuals, entities for 'manipulation' in five companies

International News:

KPMG scandal sparks push to mandate 10-year audit tenders

FASB proposes changes in investment company reporting

Exposure Drafts:

IBBI Draft:

Discussion Paper on Strengthening Resolution Outcomes in Real Estate Insolvency
[Last date for Comments: July 21, 2026] 

FASB Draft:

Proposed Accounting Standards Update
Fair Value Measurement (Topic 820)
Investment Companies with Equity Securities Subject to Contractual Sale Restrictions
[Last date for Comments: July 17, 2026] 

Acts & Regulations:

RBI Directions:

Updated as on July 1, 2026:

RBI (Commercial Banks – Responsible Business Conduct) Directions, 2025

RBI (Small Finance Banks – Responsible Business Conduct) Directions, 2025

RBI (Local Area Banks – Responsible Business Conduct) Directions, 2025

RBI (Regional Rural Banks – Responsible Business Conduct) Directions, 2025

RBI (Urban Co-operative Banks – Responsible Business Conduct) Directions, 2025

RBI (Rural Co-operative Banks – Responsible Business Conduct) Directions, 2025

RBI (All India Financial Institutions – Responsible Business Conduct) Directions, 2025

RBI (Non-Banking Financial Companies – Responsible Business Conduct) Directions, 2025

RBI (Local Area Banks – Resolution of Stressed Assets) Directions, 2025

RBI (Urban Co-operative Banks – Resolution of Stressed Assets) Directions, 2025

RBI (All India Financial Institutions – Resolution of Stressed Assets) Directions, 2025

RBI (Non-Banking Financial Companies – Resolution of Stressed Assets) Directions, 2025

RBI (Local Area Banks – Income Recognition, Asset Classification and Provisioning) Directions, 2025

Useful Forms:

ITR eFiling Utilities for AY 2026-27:

Updated as on July 1, 2026:
Common Offline Utility (ITR 1,2,3 and ITR 4)
• Utility
• Utility for MAC

Updated as on June 30, 2026:
ITR 1 / 2 / 3 / 4 - 
• Excel Utility
• Schema

Legal Updates:

Income Tax:

CBDT Notifies Non-Deduction of TDS on Lease Rent Paid to IFSC Ship Leasing Units [Notification No.75]

CBDT Notifies Non-Deduction of TDS on Lease Rent Paid to IFSC Aircraft Leasing Units [Notification No.74]

Condonation of delay in filing Form No. 10AB electronically for approval under clause(ii) of the first proviso to section 80G(5) of the Income-tax Act, 1961 [Circular No.6]

GST:

FAQs on Mandatory Capture of Ship-to Field and Voluntary Closure of E-Way Bill, 2026

IBBI:

Panel of IPs for appointment as IRP, liquidator, RP and BT, for the period from July 1 to December 31, 2026

Panel of IPEs as IPs for appointment as IRP, liquidator, RP and BT, for the period from July 1 to December 31, 2026

IFSCA:

Amendment to the Circular titled Internet banking services to clients of IBUs – Review