Daily Newsletter - November 5, 2026

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Drafts:

ICAI Exposure Draft

RBI Draft

IRDAI Draft

Acts & Regulations:

IBBI Regulations

RBI Master Directions

SEBI Master Circular

IFSCA FAQs

IRDAI Master Circular

Useful Forms:

ITR eFiling Utilities for AY 2026-27

Legal Updates:

Income Tax

GST

FEMA

SEBI

IFSCA

IRDAI

News Update:

Indian News:

GSTN to lengthen e-way bill numbers to 14 digits from January 2027 as volumes surge

24-hour arrest clock starts from detention, not formal arrest: Supreme Court

SC sales tax ruling: What it means for businesses with old tax disputes

SEBI forms 18-member working group to review listing framework for deep-tech, innovation-led startups

IRDAI directs insurers to offer four-layer motor cover in compliance with SC order

International News:

Internal audit leans more on external partners and AI

[UK] What can firms cut from the audit report right now?

Paraguay seizes major digital bank tied to president, leaving millions of customers in limbo

Exposure Drafts:

ICAI Exposure Draft:

Drafts - Valuation Standards, 2026 by Insolvency, Bankruptcy and Valuation Standards Board of ICAI
[Last date for Comments: November 22, 2026] 

RBI Draft:

Draft Consolidation of Instructions Related to Priority Sector Lending
[Last date for Comments: November 26, 2026] 

IRDAI Draft:

Exposure Draft on the IRDAI - Subsidiary Instructions and Consultative Committees Regulations 2026
[Last date for Comments: November 23, 2026] 

Acts & Regulations:

IBBI Regulations:

IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
[Amended upto October 30, 2026]

RBI Master Directions:

Master Directions on Cyber Resilience and Digital Payment Security Controls for non-bank Payment System Operators
[Published on November 5, 2026]

Master Directions - Compounding of Contraventions under FEMA, 1999, dated April 22, 2025 
[Updated as on October 23, 2026]

SEBI Master Circular:

Master Circular for Alternative Investment Funds (AIFs)
[Updated on November 05, 2026]

IFSCA FAQs:

FAQs on IFSCA(Banking) Regulations, Banking Handbook and Internet Banking circulars
[Published on November 2, 2026]

IRDAI Master Circular:

Master Circular on Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers, 2026
[Published on November 2, 2026]

Useful Forms:

ITR eFiling Utilities for AY 2026-27:

Updated on November 4, 2026: 

ITR 6 - Windows & Mac Utilities

Legal Updates:

Income Tax:

Exemption of TDS from any income in nature of dividend paid by unit of IFSC to a company being unit of IFSC engaged in leasing of aircraft [Notification No.141]

GST:

Revision in E-Way Bill and Consolidated E-Way Bill Numbering Formats w.e.f. 1 January 2027

FEMA:

Foreign Exchange Management (Export and Import of Goods and Services) (Second Amendment) Regulations, 2026

SEBI:

Review of the framework for Accredited Investors​

Framework for net settlement of funds for transactions undertaken by mutual fund schemes in cash market​

Revision of limits relating to requirement of underlying exposure for currency derivatives contracts​

Review of Know Your Client process for individual Person Resident Outside India clients​

IFSCA:

Reporting Norms for the TechFin and Ancillary Service Providers, Global In-House Centres and Book-keeping, Accounting, Taxation and Financial Crime Compliance Service Providers

Notification enabling Operating lease including any hybrid of operating and financial lease of "GPU and connected data centre equipment" as financial product

IRDAI:

Circular - Four Layer Structure-Motor Insurance Policy