Indian News

• MCA asks cost auditors to tap AI to better detect inefficiency
• Audit needs to be proper
• CBIC clarifies rules, says no GST to apply on pre-paid gift vouchers, cards
• Will Digiyatra data be used to crack down on tax evaders? taxmen clarify
• EPS pensioners can now withdraw their pension from any bank in India
• Now you can file rectification request online for incorrect ITR processing even if it’s with the AO
• I-T dept set to enhance operations in 2025 by adopting PRUDENT approach
• Govt retains interest rates on small savings schemes for Jan-Mar quarter
• Health insurers reject claims worth Rs 15,100 crore in FY24: Irdai
• As NPCI lifts limits, WhatsApp Pay can now extend UPI services to all users
• NEFT, RTGS rule change: Verify beneficiary names easily with new account name lookup facility; when can you use it?
• These bank accounts will close down from Jan 1. Check if yours is affected
• RBI lifts curbs on Mumbai-based Sangli Sahakari Bank after 2.5 years
• Government extends deadline for direct tax Vivad Se Vishwas Scheme
• I-T Department extends belated, revised ITR filing deadline to Jan 15
• ICAI can't notify audit quality norms, says SG Tushar Mehta
• Stockbrokers can ask you to submit income tax returns (ITR) to check PMLA violation
• EPF Update: Do EPS 95 pensioners need to submit Digital Life Certificate every six months? EPFO clarifies
• RBI sets up 8-member panel to develop framework for ethical use of AI
• RBI allows PPI holders to make UPI payment using third-party apps
• A year where audit integrity took centre stage
• CCI to intervene selectively, considering sector-specific dynamics
• Centre appoints Arunish Chawla as new Revenue Secretary in FinMin

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International News

• Accounting firms fear discrimination claims under US exam reform plan
• AICPA asks SEC to reject PCAOB rules that pose 'significant challenges'
• Audit fees poised to rise further after 6.4% hike in latest cycle, report says
• CFOs scramble for new AI talent amid fierce competition, report says
• Bank of Japan keeps interest rates steady at 0.25%
• Fed cuts key interest rates by 0.25%; reverse repo rate lowered to 4.25%
• KPMG outpaces Big Four rivals as audit and tax units shine
• AICPA releases valuation guide for business combinations
• PCAOB could be defanged by incoming Trump administration
• ECB cuts rates 25 bps to 3% amid worsening growth outlook for Euro zone
• How the new QM standards may affect peer review
• Engagement quality reviews: What auditors should know
• PCAOB posts 2025 inspection priorities
• PCAOB finds audit firm culture impacts quality
• Grant Thornton LLP Named Top Audit Firm in U.S. by Private Equity Wire
• How to not lose sleep over NOCLAR
• FASB updates convertible debt rules
• AI boss: You could soon be reporting to an artificial CEO
• FRC releases 2024 review of UK corporate governance
• What to consider when auditing cryptocurrencies: ICAEW
• AI rush is fueling tech debt ‘tsunami’: Forrester
• Are you prepared to tackle ethical dilemmas?
• What auditors should keep in mind when taxes and laws change
• Generative AI will upgrade you, not replace you: KPMG
• AICPA wary of new PCAOB firm metrics standard

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Reference Updates

• WIRC - ICAI Publications
• ICAI Technical Guide: GST Annual Return (Form GSTR 9)
• ICAI Technical Guide: Departmental GST Audit of Entities with Multiple GSTINs
• FRC Reference Material: Annual Audit Quality Inspection Findings 2023-24 Tier 2 and Tier 3 Audit Firms
• IFRS: Sustainability-related risks and opportunities and the disclosure of material information
• FRC Reference Material: Review of Corporate Governance Reporting
• IAASB Reference Material: ISSA 5000 - General Requirements for Sustainability Assurance Engagements
• PCAOB Reference Material: Audit Focus Series - Critical Audit Matters
• FRC Reference Material: Major Local Audits - Audit Quality Inspection
• New Income Tax Form No.3CEFC
• FASB Accounting Standard Update: Induced Conversions of Convertible Debt Instruments
• IAASB Reference Materials: Handbook of International Quality Management, Auditing, Review, Other Assurance, and Related Services Pronouncements
• PCAOB Reference Material: Firm and Engagement Metrics
• FASB Accounting Standard Update: Disaggregation of Income Statement Expenses
• ICAI Technical Guide on Conducting Quality Review (Revised 2024 Edition)
• ICAI Publications - Report on Audit Quality Review - 2022-23
• ICAEW Reference Materials: Practising Auditor Competency Framework 2024
• ICAEW Reference Materials
• IRDAI Forms
• FRC Reference Material: Technical Actuarial Guidance (technical guide regarding use of AI) - Models
• ICAI Announcement: Revised Criteria for classification of Non-company entities for applicability of Accounting Standards
• ICAI: Clarification for Members Regarding requirement to register as Investment Adviser (IA) with SEBI

Taxation Laws Update

• CGST Circular No. 243: Clarification on various issues pertaining to GST treatment of vouchers
• CGST Circular No. 242: Clarification on place of supply of Online Services supplied by the suppliers of services to unregistered recipients
• CGST Circular No. 241: Clarification on availability of input tax credit as per section 16(2)(b) of the CGST Act, 2017
• CGST Circular No. 240: Clarification in respect of input tax credit availed by e-commerce operators where specified services are supplied through their platform
• GST Advisory: Waiver Scheme under Section 128A
• GST Advisory: Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Arunachal Pradesh
• Income Tax Circular No.21: ​Extension of due date for furnishing belated/revised return AY 24-25 in certain cases
• Income Tax Circular No.20: ​Extension of due date for Direct Tax Vivad Se Vishwas Scheme, 2024​
• Customs Circular No.27: Enabling Voluntary Payment electronically on ICEGATE e-payment Platform
• GST Advisory: Entry of Receipt Numbers Pertaining to Leased Wagons in the E-Way Bill System
• Customs Notification No.27(ADD): Anti-Dumping Duty on Telescopic Channel Drawer Slider from China PR
• GST Advisory: Entry of RR No./eT-RRs in EWB system Post EWB-FOIS Integration
• Customs Notification No.86(NT): Specification of manufacturing processes and other operations wrt a class of goods in a warehouse
• CBDT Press Release: Electronic Campaign to Address Income and Transaction Mismatches for FY 2023-24 and FY 2021-22
• GST Advisory: Updates to E-Way Bill and E-Invoice Systems
• Income Tax Circular No.19: ​Guidance Note 2/2024 on provisions of the Direct Tax Vivad se Vishwas Scheme, 2024
• GST Advisory: Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Chhattisgarh, Goa and Mizoram
• Customs Notificaiton No.85(NT): Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver
• CGST Notification No.31: Appointment of common adjudicating authority for Show cause notices issued by officers of DGGI

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Corporate Laws Update

• MCA Notification: The Companies (Accounts) Second Amendment Rules, 2024
• IFSCA Circular: Guidelines on setting up and operation of International Trade Finance Service Platform
• SEBI Circular: Upload of Draft Scheme Information Documents
• DGFT Update - December 24, 2024
• IFSCA Press Release: Review of IFSCA (Fund Management) Regulations, 2022
• SEBI Circular: Simplification of Offer Document
• SEBI Circular: Industry Standards on Reporting of BRSR Core
• SEBI Circular: Policy for Sharing Data for the Purpose of Research / Analysis
• DGFT Trade Notice No.24: Rescheduling of Launch Date for Preferential eCoO 2.0 System
• DGFT Public Notice No.34: Fixation of new SIONs at SION A-3683 under ‘Chemical and Allied Product’
• SEBI Circular: Measures to address regulatory arbitrage with respect to ODIs and FPIs with segregated portfolios vis-à-vis FPIs
• SEBI Regulations: SEBI (Investment Advisers) (Second Amendment) Regulations, 2024
• SEBI Regulations: SEBI (Research Analysts) (Third Amendment) Regulations, 2024
• SEBI Regulations: SEBI (Mutual Funds) (Third Amendment) Regulations, 2024
• SEBI Regulations: SEBI (Issue and Listing of Non-Convertible Securities) Regulations 2021
• SEBI Circular: SEBI (LODR) (Third Amendment) Regulations, 2024
• IFSCA Circular: Directions to IBUs for operations of the FCA of Indian resident individuals opened under the LRS
• SEBI Circular: Pro-rata and pari-passu rights of investors of AIFs
• SEBI Circular: Classification of CDMDF as Category I AIF
• SEBI Circular: Relaxation from the ISIN restriction limit for issuers desirous of listing originally unlisted ISINs
• DGFT Update - December 13, 2024
• SEBI Circular: SEBI (Issue and Listing of Non-Convertible Securities) (Third Amendment) Regulations, 2024
• SEBI Circular: SEBI (Prohibition of Insider Trading) (Third Amendment) Regulations, 2024
• DGFT Circular No.9: Procedure for implementation of Import Management System for import of restricted IT Hardware for 2025

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CA's Referencer

• Treatment of Income from Different Sources - For AY 2025-26
• Income Tax Penalities & Prosecution
• Income Tax - Periods of Limitation - AY 2025-26
• Income Tax - Various Threshold Limits - AY 2025-26
• Tax rates as per IT Act vis a vis Tax Treaties
• TDS on transfer of certain immovable property - AY 2025-26
• Gold & Silver Rates
• Withholding Tax Rates - As amended by Finance (No. 2) Act, 2024
• Depreciation Rates - As amended by Finance (No. 2) Act, 2024
• Income Tax Benefits Available to Non- Residents - For AY 2025-26
• Income Tax Benefits Available to Small Businessmen - For AY 2025-26
• Income Tax Benefits Available Exclusively to Resident Persons and Indian Companies - For AY 2025-26
• Income Tax Benefits Available Only To Individuals & HUFs - For AY 2025-26
• TDS Rates - For AY 2025-26
• Income Tax Rates - AY 2025-26 and 2024-25
• Income Tax Benefits Available to Salaried Persons - For AY 2025-2026
• NFRA Circular: Responsibilities of Principal Auditor and Other Auditors in Group Audits
• CA's Referencer: Indian Revenue Service - Civil List 2024
• CA's Referencer: Accounting Standards - Quick Referencer
• CA's Referencer: Saransh - Last Mile Referencer for Direct Tax Laws and International Taxation
• CA's Referencer: Background Material on GST - Volume 1 & 2
• CA's Referencer: Background Material on GST Demands & Appellate Remedies
• CA's Referencer: Handbook of GST Law & Procedures [For Departmental Officers]
• CA's Referencer - ICAI: Excel Utility for Bank Branch Audit [2024 edition]
• CA's Referencer: Commonly Found Errors in Reporting Practices
• CA's Referencer - Corporate Law: Expert Committee Report on Framework for Use of Mediation under the IBC
• CA's Referencer: Customs Duty Drawback Rates for 2023-24
• CA's Referencer: Checklist on Standards on Auditing
• CA's Referencer: Customs Post Clearance Audit Formats
• CA's Referencer: Utility to Generate Audit Engagement Letters

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From the ICAI

ICAI Announcements

Accounting Standards

Accounting Standards for Local Bodies

Indian Accounting Standards - Ind AS 

Ind AS Technical Facilitation Group (ITFG)

Standards on Quality Control (SQCs)

Standards on Internal Audit

Guidance Notes

Technical Guides 

Implementation Guides 

ICAI Publications

FAQs issued by ICAI 

International Content

  
International Financial Reporting Standards (IFRS)

IFRS Sustainability Disclosure Standards

ICAEW Reference Materials

IFAC Reference Materials

IAASB Reference Materials

FASB Reference Materials

IESB Reference Materials

IPSASB Reference Materials

PCAOB Reference Materials

FRC Reference Materials

Articles

• Article: AI in Finance - US Report
• Member's Article: One Person Company under the Companies Act, 2013
• Member's Article: Goal Setting – a good place to start?
• Article: IIM-A Report of Study on Effectiveness of the Resolution Process: Firm Outcomes in the Post-IBC Period
• ICAI Quality Review Board Report: Audit Quality Review
• Article: Audit Quality management standards: How to perform a root cause analysis
• Article: Peer review findings in audits of not-for-profits: What auditors need to know

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Exposure Drafts

• FASB Draft: Recognition of Intangibles
• FASB Proposed ASU: Environmental Credits and Environmental Credit Obligations (Topic 818)
• SEBI Draft Circular: Service platform for investors to trace inactive and unclaimed Mutual Fund folios: MITRA
• SEBI Draft: Participation of retail investors in algorithmic trading
• SEBI Draft Circular: Operational Efficiency in Monitoring of NRIs Position Limits in Exchange Traded Derivatives Contracts - Ease of Doing Investment
• SEBI Draft: Harnessing DigiLocker as a Digital Public Infrastructure for reducing Unclaimed Assets
• IFSCA Consultation Paper: Proposed IFSCA (KYC Registration Agency) Regulations 2024

Go to "Exposure Drafts" listings 

Useful Forms

Income Tax Forms

Income Tax Return Forms for AY 2023-24

Income Tax eFiling Utilities

All Income Tax Forms and Fillable Forms

Wealth Tax Forms

GST Forms

MCA Forms

IBBI Forms

CCI Forms

NCLAT Forms

IRDAI Forms

DGFT Forms

Customs Forms

Central Excise Forms

Acts / Regulations & FAQs

ICAI Acts / Regulations  

Income Tax FAQs 

GST Act / Rules 

GST FAQs

MCA Acts / Regulations & MCA FAQs

IBBI Acts / Regulations & IBBI FAQs

CCI Acts / Regulations / FAQs

SEBI Acts / Regulations & SEBI FAQs

RBI Acts / Regulations / FAQs

IFSCA Acts / Regulations / FAQs

IRDA Acts / Regulations

DGFT Acts / Regulations / FAQs

Customs Acts / Regulations 

Miscellaneous Laws