Daily Newsletter - June 23, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

From the ICAI:

ICAI Announcement

International Content:

IFRS Sustainability Reference Material

Legal Updates:

Income Tax

RBI

DGFT

Customs

News Update:

Indian News:

Big Tech has AI, but Indian MSMEs need something more—Desi AI

Why IPO-ready startups seek 'confidential' route

Stamp pads to servers, big shift for realty

CBI raids in Bihar, Jharkhand in Rs 100 crore GST fraud; customs officers in the dock

Sebi slaps Rs 29 lakh fine on IAGF, trustee for AIF rules violation

Cybersecurity boost: Banks, RBI move to launch Digital Fraud Detection Platform amid soaring crimes - All you need to know

Plans to make mutual fund rules more investor and industry friendly: SEBI official

CBDT taking action for non-responsive taxpayers having foreign income: Finance Ministry

CBI arrests two in Rs 183 crore fake bank guarantee scam

Sebi proposes 5-point AI rulebook for securities market. Check details

AI gains strategic ground in Indian boardrooms amid budget strains – Here’s why

International News:

Charting the Global Economy: Key central banks hold on rates

From the ICAI:

ICAI Announcement:

Additional information required during UDIN generation under ‘GST & Tax Audit’ and ‘Audit & Assurance Functions’ Categories

International Content:

IFRS Sustainability Reference Material:

Roadmap development tool for adopting ISSB Standards
[Published in March 2025]

Legal Updates:

Income Tax:

Notification u/s 197A(1F) of the Income Tax Act, 1961 providing exemption from withholding tax for payments made to units of International Financial Services Centre (IFSC) [Notification No.67]

RBI:

Review of Priority Sector Lending norms - Small Finance Banks

DGFT:

Amendment in Para 2.03(A) (i) (g) of the Foreign Trade Policy, 2023 laying down enabling provisions for import of inputs, that are subjected to mandatory Quality Control Orders (QCOs), by Advance Authorisation holders, EOU and SEZ [Notification No.20]

Customs:

Extension of validity of the NOC for the Alcoholic Beverages Bottled in Origin & in Bulk [Instruction No.19]

Amendment in Import Policy of items covered under CTH 2843 under Chapter 28 of ITC (HS) 2022 of Schedule-I (Import Policy) [Instruction No.18]