Daily Newsletter - March 30, 2026

Latest additions to CAalley:

News Update:

Indian News

Budget 2026

International News

Acts & Regulations:

RBI Master Direction

CAs Referencer:

NFRA Inspection Reports

Legal Updates:

Income Tax

FEMA

DGFT

Customs

Central Excise

News Update:

Indian News:

All banking cos to deduct TDS on interest income beyond Rs 50,000 a year

PFRDA adds 10 categories as NPS pension agents (including CAs)

CoC must log reasons for approving resolution plan in new IBC Bill: FM

Insolvency law crucial in improving health of banking sector: FM Sitharaman

Lok Sabha passes Bill to amend Insolvency and Bankruptcy Code; here's what it means

Rules finalised, rollout of all 4 labour codes likely in April

Bank account portability RBI’s priority for ‘Vision 2028’

SFIO summons former top executives of IndusInd Bank in accounting probe

RBI's currency defence could leave banks paying the price

KPMG UK puts nearly 600 audit jobs at risk as cost pressure deepens; advisory cuts also hit

NFRA flags quality control gaps in six audit firms

Govt relaxes rules for some state firms to procure key equipment from China

Budget 2026:

No more technical escapes? Finance Bill 2026 pushes taxpayers to fight cases on merits

International News:

AICPA Proposes Revised Definition of ‘Attest Engagement Team’ in Ethics Code

Acts & Regulations:

RBI Master Direction:

Master Direction – Reporting under Foreign Exchange Management Act, 1999
(Updated as on March 30, 2026)

CAs Referencer:

NFRA Inspection Reports:

M/s Singhi & Co. – Inspection Report No.132.2-2024-10

M/s CNK & Associates LLP – Inspection Report No.132.2-2024-09

M/s B D G & CO LLP – Inspection Report No. 132.2-2024-08

M/s Umamaheswara Rao & Co. – Inspection Report No.132.2-2024-07

Walker Chandiok & Co. LLP – Inspection Report No. 132.2-2024-06

Deloitte Haskins & Sells & Affiliates – Inspection Report No.132.2-2024-05

Legal Updates:

Income Tax:

Notification of Sovereign Wealth Fund under Schedule V [Table: Sl. No. 7.Note S(a)(ii)(G)] of the Income-tax Act, 2025 [Circular No.3]

Procedure, formats and standards for generation and allotment of Unique Identification Number (UIN) in respect of Form No. 121 and quarterly furnishing of Part B thereof by the payer [Notification No.1-CPC-TDS-2026]

FEMA:

Reporting under Foreign Exchange Management Act, 1999 – Returns pertaining to External Commercial Borrowing (ECB)

DGFT:

Policy Support and Relaxation Measures for the Gem & Jewellery sector under Chapter 4 of FTP-2023 [Public Notice No.54]

Customs:

Implementation of the Sea Cargo Manifest and Transhipment Regulations (SCMTR) [Circular No.16]

Sea Cargo Manifest and Transshipment (First Amendment) Regulations, 2026 [Notification No.31(NT)]

Central Excise:

Corrigendum to Notification No. 11/2026-Central Excise dated 26.03.2026

Corrigendum to Notification No. 06/2026-Central Excise dated 26.03.2026