Newsletter from CA Cult – For Latest Updates (January 2025)

Check out the “Weekly Newsletter from CA Cult – For Latest Updates (Fifth Week of January 2025)”.

Income-tax

1. Income-tax (Second Amendment) Rules, 2025.
2. Designation of Protected Systems for Income Tax Department.

CBIC

1. Attention – Hard – Locking of auto-populated liability in GSTR-3B.
2. Advisory for Biometric-Based Aadhaar Authentication and Document Verification for GST Registration Applicants of Tamil Nadu and Himachal Pradesh.
3. Advisory on the Introduction of E-Way Bill (EWB) for Gold in Kerala State.

MCA

1. GUIDELINES FOR FUNDING RESEARCH AND STUDIES, WORKSHOPS AND CONFERENCES ETC. UNDER THE PLAN SCHEME “CORPORATE DATA MANAGEMENT” (CDM) OF THE MINISTRY OF CORPORATE AFFAIRS.
2. Insolvency and Bankruptcy Board of India amends the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017.

DGFT

1. Amendments to Para 2.91 & 2.93 of HBP, inline with the Implementation of the eCertificate of Origin System-reg.
2. Introduction of online module for filing Annual RoDTEP Return (ARR) – Trade Notice No.27/2024-25.
3. Amendments to Para 2.91 & 2.93 of HBP, inline with the Implementation of the eCertificate of Origin System-reg.
4. Withdrawal of Para 2.76 of Handbook of Procedure – 2023 regarding Track & Trace system for export of drug formulations -reg.

RBI

1. RBI to inject liquidity through USD/INR Buy/Sell Swap auction.
2. Private Placement of Non-Convertible Debentures (NCDs) with maturity period of more than one year by HFCs – Review of guidelines.
3. Framework for imposing monetary penalty and compounding of offences under the Payment and Settlement Systems Act, 2007.

SEBI

1. Development of Web-based portal: iSPOT (Integrated SEBI Portal for Technical glitches) for reporting of technical glitches.
2. Format of Due Diligence Certificate to be given by the DTs.
3. Framework for Monitoring and Supervision of System Audit of Stock Brokers (SBs) through Technology based Measures.

ICAI

1. Draft Bank Branch Auditors’ Panel (MEF) for the year 2024-25.
2. Interview Venue Details 61st Campus Placement Programme February-March 2025.
3. Important announcement for WOFA 2025 and 75th Annual Function of ICAI.

Union Budget 2025

1. UNION BUDGET 2025-26 PROPOSES TO REMOVE SEVEN CUSTOMS TARIFF RATES FOR INDUSTRIAL GOODS.
2. NO INCOME TAX ON ANNUAL INCOME UPTO Rs. 12 LAKH UNDER NEW TAX REGIME.
3. SUMMARY OF THE UNION BUDGET 2025-26.
4. Union Budget 2025-26: Key Takeaways.

Videos of the Week:

1. Union Budget 2025: New Tax Slabs Explained: https://www.youtube.com/watch?v=0jTByKZUclE
2. IT Dept Alert! Asks for Proof of Political Party Donations Section 80GGC: https://www.youtube.com/shorts/6A3grsG5yZM

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