Weekly Newsletter - July 1, 2026
Latest additions to CAalley:
Exposure Drafts:
Acts & Regulations:
From the ICAI:
Tech Zone – Simplifying Technology for CAs:
Tech-Zone Series - New Article
Legal Updates:
News Update:
Delhi HC rules National Stock Exchange a public authority under RTI
MCA set to notify SA 600, 40 revised audit standards by August
Stock traders' alert: When income tax audit becomes mandatory for AY 2026-27
India's Chartered Accountancy Profession Enters A New Era Of Reinvention
CA Day 2026: Why is it celebrated on July 1? Know history, this year's theme, motto
GST's credit challenge: Why input tax credit remains the biggest challenge
Nine years of GST: How one tax reshaped India's indirect tax system
IRDAI targets dark patterns with nine-month audit drive across insurance industry
Haryana scam shocker: IAS officer arrested on retirement day in ₹593-crore IDFC Bank fraud probe
SEBI Proposes Uniform Investor Consent Rules, Wider Conflict Checks For AIFs
RBI revises Certificate of Registration surrender norms for NBFCs
Bad loans may edge up to 1.9% by FY28 despite resilient banks: RBI
Small savings interest rates for July-September 2026 quarter
Govt extends GST Appellate Tribunal appeal filing deadline to July 31 after portal rush
Government extends CBDT chief Ravi Agrawal's tenure by 6 months
DGFT extends enhanced export insurance cover for West Asia shipments till September 30
CBAM explained: Why Europe's carbon tax matters for India's exporters
Senior-level musical chairs: Axis, Bandhan Bank CFOs quit within an hour
Indian banks may face an AI compliance bill: Who will bear the cost?
IFSCA proposes unique KYC ID for seamless use across GIFT City entities
Big Four rethink partnership as AI changes the game
Govt launches AI-enabled Rural Internal Audit Portal to strengthen financial oversight
New GST jurisdiction to handle pending cases after business shift: CBIC
10 more jurisdictions come under RBI's State Development Loans framework
TDS deducted but claim denied to taxpayer credit: Mumbai woman fights in ITAT
ICAI bets big on AI to sharpen audit quality and efficiency, signs deal with Sarvam AI
GSTAT extended relaxed scrutiny guidelines for filing appeals till December 31, 2026
Retiree paid tax on exempt income, wins case in ITAT
Pension Sahayak guide: Here's how PFRDA's new grievance portal works
India financial crime agency flags forex breaches, missing records at Rajesh Exports
One of India’s largest gold exporters paid its MD just $180 a month
RBI issues final rules on credit derivatives
RBI proposes wider access to money markets in draft rules for NBFCs, firms
RBI consolidates rules for outright, when-issued & short-sale G-sec trades
Big Six tighten grip on India's audit market despite mandatory rotation
71% of MSMEs on TReDS platform now come from Tier-II and smaller cities: M1xchange report
India plans to value its coal reserves in rupees: What does it mean?
SFIO to probe Rajesh Exports over SEBI's fraud allegations
Lost Rs 50,000 in digital fraud? Soon, you can get 85% amount back if you follow these rules
RBI withdraws concentration-risk exemptions for govt-owned NBFCs
RBI sets compliance blueprint for AI-driven finance under draft framework
RBI to raise large exposure limit for upper layer NBFC-IFCs to 45% from 35% of eligible capital base
SEBI eases certification norms for non-core advisory staffers
FRC refreshes auditing standards to reduce reporting burden and improve transparency
FASB Sets Out to Improve Hedge Accounting Guidance
Hong Kong’s AFRC sanctions three ex-CPAs after fraud convictions
KPMG Australia's chairman and two partners resign as audit scandal widens
Exposure Drafts:
Draft ‘Guidance on Regulatory Principles for Model Risk Management’
[Last date for Comments: July 24, 2026]
Draft Master Direction – Reserve Bank of India (Secondary Market Transactions in Government Securities) Directions, 2026
[Last date for Comments: July 17, 2026]
Draft Master Direction - Reserve Bank of India (Call, Notice and Term Money Markets) Directions, 2026
[Last date for Comments: July 17, 2026]
Consultation paper on rationalizing the requirement of obtaining investor consent and ambit of conflicted transactions requiring investor consent under SEBI (Alternative Investment Funds) Regulations, 2012
[Last date for Comments: July 21, 2026]
Consultation Paper for issuing Circular on Integration of Regulated Entities with KYC Registration Agencies in IFSC
[Last date for Comments: July 16, 2026]
Exposure Draft on IRDAI (Policyholders’ Education and Protection Find) Regulations, 2026
[Last date for Comments: July 23, 2026]
Acts & Regulations:
Updated as on June 29, 2026:
Master Direction - Remittance of Assets
Master Direction - Deposits and Accounts
Newly Published on June 25, 2026:
Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2026
Updated as on June 24, 2026:
Reserve Bank of India [Disbursement of Government Pension by Agency Banks (ABs)] Directions, 2026
Reserve Bank of India (Non-Banking Financial Companies – Governance) Directions, 2025
Master Direction – Reporting under Foreign Exchange Management Act, 1999
Master Direction - Money Changing Activities
IBBI (Grievance and Complaint Handling Procedure) Regulations, 2017 (Amended upto 03.06.2026)
IBBI (Information Utilities) Regulations, 2017 (Amended upto 02-06-2026)
IBBI (Inspection and Investigation) Regulations, 2017 (Amended upto 02-06-2026)
From the ICAI:
GST Act(s) and Rule(s) – Bare Law
(Published by ICAI - April 2026 Edition)
Tech Zone – Simplifying Technology for CAs:
Tech-Zone Series - New Article:
Tech-Zone Series: Excel ITR Filing Mastery: Practical Hacks Every CA Needs This Season
Part 2 - Smart Calculations, Error-Proofing & Performance Under Pressure
Legal Updates:
Advisory on Revision of Timeline for Amendment of Aggregate Annual Turnover (AATO), 2026
Foreign Exchange Management (Deposit) (Sixth Amendment) Regulations, 2026
Review of Circulars issued under Foreign Exchange Management Act, 1999 (FEMA)
Modification of Returns / Reporting requirements under FEMA, 1999
IFSCA (Managing General Agents) Regulations, 2026
[Published on June 15, 2026]
