CAclubindia News

No Post-GST Compensation for Karnataka, Finance Ministry Tells Parliament

15 December 2025 at 06:44

The Union Finance Ministry has ruled out any new GST compensation mechanism for Karnataka, citing strong growth in GST collections and rising central fiscal transfers, even as the State faces challenges in stamp duty and registration revenues.

Posted in GST | 3138 Views

Supreme Court Denies 40% Tax Deduction to Statutory Corporations on Non-Lending Income

15 December 2025 at 06:44

Supreme Court rules that statutory corporations cannot claim the 40% tax deduction under Section 36(1)(viii) on income from dividends, deposits, or service charges, limiting the benefit strictly to profits derived from long-term financing activities.

Posted in Income Tax | 1128 Views

Income Tax Dept Detects Over Rs 1000 Crore Tax Evasion in Refex Group Searches

15 December 2025 at 06:44

The Income Tax Department has detected over Rs 1,000 crore in alleged tax evasion during search operations on Refex Group and its associates, uncovering bogus purchases, unexplained foreign investments and benami funding.

Posted in Income Tax | 300 Views

CBDT Nudges Taxpayers to Withdraw Bogus Donation Claims Using Data-Driven Tax Scanner

15 December 2025 at 06:44

CBDT has launched a data-driven NUDGE campaign to curb bogus tax deductions under Sections 80G and 80GGC.

Posted in Income Tax | 1044 Views

ICAI Announces December 2025 Convocation Schedule Across Major Indian Cities

13 December 2025 at 16:49

The Institute of Chartered Accountants of India (ICAI) has announced the December 2025 Convocation schedule. Members enrolled between 16 July and 30 Nov 2025 and CA Final rank holders of Sept 2025 will be felicitated across multiple cities in India.

Posted in Students | 3267 Views

ICSI Introduces Fast-Track Support for MCA21 V3 E-Filing Issues Pending Over 7 Days

13 December 2025 at 09:19

ICSI launches fast-track support for MCA21 V3 e-filing issues, offering a dedicated email, helpline and Google Form for tickets pending over 7 days.

Posted in Corporate Law | 357 Views

Chartered Accountants Praised for Strengthening GST Framework at ICAI Pune Event

13 December 2025 at 06:51

At an ICAI national GST conference in Pune, CGST chief Mayank Kumar said chartered accountants have played a crucial role in GST’s successful implementation and urged them to curb rising ITC irregularities.

Posted in GST | 408 Views

FM Nirmala Sitharaman Signals Major Customs Overhaul Ahead of Budget 2026

13 December 2025 at 06:50

FM Nirmala Sitharaman has hinted at a major overhaul of India’s customs framework before Budget 2026, with reforms expected in duty rationalisation, digitisation, compliance schemes and dispute resolution.

Posted in Union Budget | 432 Views

ICAI to Migrate UDIN Portal to DigiCA Platform on December 20, 2025

13 December 2025 at 06:50

ICAI will migrate the UDIN Portal to the DigiCA Platform on December 20, 2025, with a 24-hour downtime from midnight of December 19. A new UDIN mobile app will launch on December 30, 2025.

Posted in Professional Resource | 3072 Views

Manipur GST Second Amendment Act 2025 Receives Presidential Assent

13 December 2025 at 06:50

The Manipur GST Second Amendment Act 2025 has been notified with key updates on ITC, credit notes, appeals, and a new track-and-trace compliance system

Posted in GST | 258 Views