Weekly Newsletter - July 29, 2026
Latest additions to CAalley:
Exposure Drafts:
Acts & Regulations:
From the ICAI:
CA's Referencer:
Legal Updates:
News Update:
Six in ten Indian companies believe AI to play a significant role: PWC
GST panel may consider allowing transfer of unused tax credit within corporate groups
Rupee is undervalued, says RBI Governor: What it means and why it matters
What is business overreach? Why HDFC Bank used the term in MSRDC case
ITC fraud worth Rs 74,782 crore detected in FY26; Maharashtra, Gujarat lead
SC backs taxpayers, rules out GST on industrial lease rights transfer
HDFC Bank fines CEO, CFO ₹1 lakh each after MSRDC review finds 'business overreach'
BoB data breach: A look at India's biggest corporate cyberattacks
Bank of Baroda probes data breach; says core banking systems remain secure
CBDT's crypto asset tax reporting: What it means for exchanges, investors
CBDT issues guidance note on crypto-asset reporting under I-T Act, 2025
Listed debt entities must list transferred unlisted NCDs after business restructuring: SEBI
Sebi proposes Rs 25 lakh mutual fund-only PMS: What it means for investors
Two startup founders, two CAs held in ₹200 crore GST fraud in Gurugram
Betting probe widens: ₹70,000cr routed via 750 shell merchants, ₹19,600cr GST evasion suspected
CCI avoiding suo motu probes to prevent conflict of interest
NFRA sets 10 principles for technology use in audits, says AI cannot replace auditor judgement
Sitharaman pushes Income Tax department to redress grievances on time, unveils 5Rs
SC bans posting court clips on social media
CBDT cuts appeal backlog by 34K; FM urges faster disposal of pending cases
Tax laws are made for the living; I-T notice to dead person invalid: HC
AI cannot replace auditor judgement, flags automation bias in audits: NFRA
India to roll out common customer ID for banks, insurers; mutual funds to follow, sources say
Sold multi-asset MFs? Check the fund’s underlying asset mix as it determines tax treatment
Axis MF front-running case: Sebi bars Viresh Joshi for 7 yrs in final order
Foreign firms rent 105 mn sq ft space since 2022 to establish GCCs in India
ED attaches fresh Rs 1,906 cr worth assets of Gameskraft
Sebi eases security transmission rules, fast-track for low-value claims
HC stays CBDT circular denying tax relief to judges under new tax regime
From an 87% collapse to $17 billion in 40 days: RBI engineers a spectacular FCNR(B) turnaround
Mauritius tax protocol to give Indian taxman more powers to probe offshore entities
Three US law firms probe HDFC Bank over alleged Maharashtra deposit payments
Banks to tap 25 OEMs in battle against AI-led cybersecurity threats
Govt allows FDI in inventory-based e-commerce only for exports
Sebi proposes reforms to online dispute resolution framework for markets
Why Johnson & Johnson plans to pay $5.5 bn after insisting talc was safe
KMPG Australia fines staff up to $126,000 for 'unacceptable' misconduct in audit scandal
UK financial watchdog fines PwC $4.4 million over Babcock audit
FRC publishes revised Third Country Auditor directions
AICPA updates audit standards related to external confirmations
[Australia] KPMG prepares to cut hundreds of staff amid leaks scandal
Exposure Drafts:
Invitation for Stakeholder Suggestions on Integrated Platform for Insolvency Ecosystem (iPIE)
[Last date for Comments: August 3, 2026]
Draft (Securitisation Transactions) Amendment Directions
[Last date for Comments: August 27, 2026]
Consultation Paper on the Draft ‘IFSC Depositor Education and Awareness Fund (IDEA Fund) Scheme, 2026
[Last date for Comments: August 12, 2026]
Consultation Paper on Streamlining the Online Dispute Resolution Framework in Indian Securities Market
[Last date for Comments: August 13, 2026]
Consultation Paper on Comprehensive Review of SEBI (Portfolio Managers) Regulations, 2020
[Last date for Comments: August 13, 2026]
Proposed Accounting Standards Update:
Derivatives and Hedging (Topic 815)
Targeted Improvements to Accounting for Interest Rate Risk Hedging and Net Investment Hedging
[Last date for Comments: August 17, 2026]
Acts & Regulations:
Master Direction – Export of Goods and Services (Updated as on July 17, 2026)
SEBI (Custodian) Regulations, 1996
[Updated upto July 8, 2026]
SEBI (Mutual Funds) Regulations, 2026 (w.e.f. April 1, 2026)
[Updated upto July 7, 2026]
SEBI (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations, 2008
[Updated upto July 6, 2026]
From the ICAI:
Increase in the time limit for transfer of Goodwill of a proprietary firm of a deceased member
CA's Referencer:
Crypto-Asset Reporting Obligations Under Section 509 of The Income Tax Act, 2025 : Guidance Note
[Published by CBDT in July 2026]
Legal Updates:
Report of the Expert Committee on Development of REITs and InvITs in IFSC
Corrigendum to Notification No. 28/2026-Customs dated 10th July, 2026
Udangudi Notified as Customs Unloading Point for Imported Coal [Notification No.66(NT)]
