Weekly Newsletter - March 25, 2026

Latest additions to CAalley:

News Update:

Indian News

Budget 2026

International News

Exposure Drafts:

SEBI Drafts

Acts & Regulations:

New Income Tax Act

Legal FAQs:

Income Tax FAQs

MCA Bill:

Corporate Law Bill

Tech Zone – Simplifying Technology for CAs:

Tech Zone Article

CA's Referencer:

NFRA Inspection Reports for 2024

Legal Updates:

Income Tax

MCA

FEMA

SEBI

IFSCA

IRDAI

DGFT

Customs

News Update:

Indian News:

Income Tax Rules 2026: What changes for credit card users from April 1

Soon, you may be able to gift mutual funds like vouchers- Sebi proposal

8cr GST fraud: Firm director sent to 14-day judicial custody

Man surrendered tenancy rights for Rs 11 crore flat; ITAT Mumbai ruled in his favour

Companies Act seeks to allow new exec compensation tools

Income Tax Rules 1962 amended: Banks to collect more details from account holders; here’s what you may need to disclose

India to begin carbon market trading in the country within four months

Sebi approves tighter conflict-of-interest and disclosure framework

Sebi board clears steps to ease doing business in REITs, InvITs, and AIFs

Corporate Laws Amendment Bill boosts NFRA powers, eases compliance norms

No proposal for complete farm loan waiver under consideration: Sitharaman

Corporate Laws (Amendment) Bill, 2026 introduced in Lok Sabha, sent to JPC

Digital payments to see new safety rules from April 1: What changes

Equity shares received by private trust for relatives’ benefit are exempt from income tax, ITAT Chennai rules

ED flags Indians buying Dubai properties using credit cards

New tax rules ease registration, cut record-keeping for charitable trusts

New I-T rules tighten disclosure norms for foreign remittances

Govt likely to consider OFS option for raising public float in IDBI Bank

HDFC Bank asks three senior executives to leave over mis-selling concerns

Govt launches ₹20,000 crore credit guarantee scheme to boost MFIs

New I-T Act to ease compliance for small taxpayers: FM Nirmala Sitharaman

RBI fines HSBC ₹31.80 lakh for non-compliance with deposit norms

SBI gets Rs 63,375 crore tax demand for AY24, to challenge order

ICICI Bank gets Rs 769 cr GST demand notice

EPFO guidelines for international workers: Govt lays down procedure to transfer EPF amount to foreign accounts

CA among four held from New Delhi for ‘digital arrest’ of doc

New tax rules notified: From HRA to company car to meal card, top 5 prominent changes which will impact salaried taxpayers

CBDT notifies rules for simplified I-T law, to be effective from April 1

HC relief for charitable trusts in regn dispute with I-T dept

Massive land record fraud hits up to 2 lakh families; Maharashtra orders statewide audit

India-UK FTA likely to be implemented by early May; EU by year-end

RBI working to provide avenues to Russian trade counterparts for rupee use

RBI sees no governance concerns at HDFC Bank after Atanu Chakraborty's exit, approves interim transition

PhysicsWallah gets ₹263 crore tax notice, says will challenge order

FCRA amendments to fix validity of foreign contributions

Budget 2026:

Lok Sabha passes Finance Bill 2026 with 32 government amendments

International News:

FRC publishes guidance to help investors and advisors recognise the value of flexible governance reporting

Big Four accounting firm Deloitte Canada comes out on top in first firm-specific inspection reports from audit watchdog

[Canada] Audit watchdog flags 'significant' problems in Big Four's work in review that actually names names

Exposure Drafts:

SEBI Drafts:

Consultation Paper on Framework of IT Resilience Index for Market Infrastructure Institutions (MIIs)
[Last date for Comments: April 15, 2026] 

Consultation Paper on introduction of Gift Card/ Gift PPI (Prepaid Payment Instrument) for Mutual Funds
[Last date for Comments: April 14, 2026] 

Acts & Regulations:

New Income Tax Act:

The Income Tax Rules, 2026

Legal FAQs:

Income Tax FAQs:

FAQs on Interplay and Transition from the Income Tax Act, 1961 to the Income Tax Act, 2025

MCA Bill:

Corporate Law Bill:

The Corporate Laws (Amendment) Act, 2026
[As introduced in Lok Sabha on March 23, 2026]

Tech Zone – Simplifying Technology for CAs:

Tech Zone Article:

Series: Why AI Doesn’t Think Like Humans

Part 2 — When the Reasoning Is Built Backwards

CA's Referencer:

NFRA Inspection Reports for 2024:

Price Waterhouse & Affiliates’ Network – Inspection Report No.132.2-2024-01

M/s SRBC & Co. LLP – Inspection Report No.132.2-2024-02

M/s MSKA & Associates LLP– Inspection Report No. 132.2-2024-03

BSR Affiliates Network – Inspection Report No.132.2-2024-04

Legal Updates:

Income Tax:

Clarification regarding power to condone delay in filing Form No. 10A section 12A(1)(ac)(i) of the Income Tax Act, 1961 [Circular No.1]

Offices to remain open on March 31, 2026

MCA:

Advisory for Stakeholders for Name Reservation and Incorporation of Company and LLP

The Companies (Accounting Standards) Amendment Rules, 2026

FEMA:

Foreign Exchange Management (Export and Import of Currency) (Amendment) Regulations, 2026

SEBI:

Clarification regarding eligibility of members of the Institute of Cost Accountants of India to conduct annual audit of Research Analysts

Clarification regarding eligibility of members of the Institute of Cost Accountants of India to conduct annual audit of Investment Advisers

Addendum to SEBI Circular on Borrowing by Mutual Funds

Ease of doing business measures - Relaxations in certain reporting requirements for certain Stock Brokers and doing away with the requirement of reporting of demat account

SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2026

Corrigendum to SEBI (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2025

IFSCA:

Report of the Internal Working Group on Creation of Regulatory Ecosystem for Independent Financial Advisers (IFAs) at GIFT-IFSC

Support for Alternative Trade Instruments under Export Promotion Mission (EPM) – NIRYAT PROTSAHAN

IRDAI:

Servicing to the policyholders – Special Measure for the current Financial Year 2025-26

DGFT:

Restoration of RoDTEP rates [Notification No.66]

Extension in the validity of TRQ Authorisation for import of gold under India-UAE CEPA (Tariff Head 7108) issued in FY 2025-26, till 30.06.2026 [Public Notice No.53]

Clarification on Support for Interest Subvention for pre-shipment and post-shipment credit [Trade Notice No.33]

Amendments in Standard Input Output Norms (SION) A-2005 [Public Notice No.52]

Time-limited Support for Exporters in view of Geopolitical Disruptions in the Gulf and West Asia Maritime Corridor [Notification No.65]

Customs:

Customs (Electronic Cash Ledger) (Amendment) Regulations, 2026 [Notification No.30(NT)]

Ease of Customs Duty Payment - Introduction of Payment Aggregator [Circular No.13]

Appointment of common adjudicating authority in respect of M/s Quantum Knits (A unit of KPR Sugar Mills Ltd.) [Notification No.29(NT)]

Fixation of Tariff Value of Edible Oils,Brass Scrap, Areca Nut, Gold and Silver [Notification No.28(NT)]

Duty drawback on the export of unlocked mobile handsets by merchant exporters [Instruction No.2]

Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver [Notification No.27(NT)]