Weekly Newsletter - December 24, 2025

Latest additions to CAalley:

News Update:

Indian News

International News

Exposure Draft:

IRDAI Draft

Acts & Regulations:

Income Tax FAQs

SEBI Regulations

Useful Forms:

Income Tax eFiling Utilities

ITR eFiling Utilities for AY 2025-26

From the ICAI:

ICAI Publication

International Content:

PCAOB Reference Material

Legal Updates:

Income Tax

GST

IBBI

RBI

SEBI

IRDAI

DGFT

Customs

News Update:

Indian News:

PwC seeks clarity on GST input tax credit for data centre construction

RBI postpones Phase 2 of cheque clearing rollout until further notice

SFIO launches probe into IndusInd Bank over accounting discrepancies

CBI nabs CGST official in the act of accepting ₹5-lakh bribe

Indian consumer giants' CEOs changing at a pace not seen since Covid

RBI directions mandatory, says Bombay HC, halts move to declare Anil Ambani's accounts as 'fraud'

Forgot your PAN Card number before Dec 31 deadline? Here's what you should do

Your income tax refund can be delayed if you don't file revised ITR by December 31, 2025 in these conditions

Hidden charges on foreign exchange transactions will soon be known in advance; RBI issues draft proposal

Will the Income Tax Department be able to access your social media and emails from April 1, 2026?

India offers higher FDI, easier bank branch norms under New Zealand FTA

Income Tax Department clarifies why many taxpayers who claim tax deductions, exemptions got intimation emails; know what to do

Discussions on labelling AI content over, rules to follow soon: IT secy

Found anomalies in your EPS remittances? EPFO explains how you can get refund for wrong contribution

New CPI series to use e-commerce, online sources for price data: Govt

ICAI launches ‘Project Vanijya’ to strengthen India’s economic foundations through early commerce education

Tax nudge: Income tax dept ropes in MNCs to flag undisclosed foreign assets; employees face Dec 31 deadline

2.48 cr penalty levied on ULIP gains, man wins in ITAT

Police arrest CA, ex-banker for helping cybercriminals

ED to file FIR against 970 crore fraud kingpin for laundering

FM Sitharaman, MoS chair Finance, Corporate Affairs 'chintan shivir'

GST notice: UltraTech Cement gets Rs 782 crore notice; company says it will contest

RBI board gives nod to deposit insurance rates based on risks

RBI has allowed compounding of Fema case against Genpact India: ED

Cabinet approves India-New Zealand trade pact, paves way for signing

CSR must inherently include environmental responsibility: Supreme Court

Centre to release compliance handbook for new labour codes: Labour secy

Income Tax Dept releases FAQs on tax deduction on donation under Section Section 80G

ED returns ₹300 crore to clear unpaid dues of Kingfisher's employees

Trade deal: India gets zero-duty access on over 99% exports to Oman

India imposes five-year anti-dumping duty on some Chinese steel imports

I-T dept clarifies why intimations on property deals, foreign assets and AIS mismatches are being sent

Irdai proposes allowing insurers to invest up to 20% in infra SPV debt

FinMin unveils single brand logo for Regional Rural Banks nationwide

MCA seeks to add 50 NCLT courts and two NCLAT benches: Panel report

NFRA raps audit firms for violating auditing norms

Sitharaman tables Securities Markets Code Bill: What it is, key features

EPFO clarifies EDLI rules: Weekends, holidays between two jobs not to be counted as break for settling insurance claims

Wide-ranging reforms: Sebi overhauls MF cost framework, stockbroking rules

Taxpayer earned Rs 81 crore tax-exempt income; I-T dept disallowed tax exemption; Taxpayer wins case in ITAT Delhi

International News:

UK: Non-Big Four firms grow PIE audit share

SEC aims to renew global coordination of accounting, auditing standards

PCAOB inspection report: Almost half of PwC Canada audits included significant deficiencies

Audit committee disclosures stagnating: CAQ

Bank of England cuts key interest rate to 3.75% amid easing inflation

Exposure Draft:

IRDAI Draft:

Consultation on Insurers’ Investment in Infrastructure SPVs
[Last date for Comments: January 7, 2026] 

Acts & Regulations:

Income Tax FAQs:

FAQs related to Section 80G – NUDGE Campaign

SEBI Regulations:

SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
[Updated upto December 5, 2025]

SEBI (Intermediaries) Regulations, 2008
[Updated upto December 5, 2025]

SEBI (Merchant Bankers) Regulations, 1992
[Updated upto December 5, 2025]

SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
[Updated upto December 4, 2025]

SEBI (Registrars to an Issue and Share Transfer Agents) Regulations, 2025

Useful Forms:

Income Tax eFiling Utilities:

Updated as on December 23, 2025

Form 10B (A.Y. 2023-24 Onwards)
- Utility
- Schema
- Schema Change Document

Form 3CEB
- Utility
- Schema
- Schema Change Document

ITR eFiling Utilities for AY 2025-26:

Updated as on December 23, 2025

ITR 3
- Excel Utility
- Schema
- Schema Change Document

ITR 5
- Offline Utility
- MAC Utility
- Excel Utility
- Schema
- Schema Change Document

ITR 6
- Offline Utility
- MAC Utility
- Schema
- Schema Change Document

From the ICAI:

ICAI Publication:

Professional Opportunities for CAs in the Cooperative Sector
[December 2025]

International Content:

PCAOB Reference Material:

Audit Focus
Broker-Dealer: Review Engagements Regarding Exemption Reports
[September 2025]

Legal Updates:

Income Tax:

Initiative to encourage taxpayers to voluntarily review deduction/exemption claims identified as potentially ineligible through risk analytics [Press Release]

GST:

GST Advisory: Consolidated FAQs on GSTR -9/9C for FY 2024-25

IBBI:

IBBI (Insolvency Resolution Process for Corporate Persons) (Seventh Amendment) Regulation, 2025

Introduction of Modification Utility & Commencement of levy of fee for delayed filing of Forms under Regulation 40B of the CIRP Regulations

RBI:

Continuous Clearing and Settlement on Realisation in Cheque Truncation System: Phase 2

SEBI:

Ease of doing investment - Review of simplification of procedure and standardization of formats of documents for issuance of duplicate certificates

Ease of investments and ease of doing business measures – enhancing the ‘Facility for Basic Services Demat Account (BSDA)’

Modification in the conditions specified for reduction in denomination of debt securities

IRDAI:

Circular on Permitting insurers investment in AIFIs

DGFT:

Amendment in Appendix 4B of Handbook of Procedures, 2023 [Public Notice No.40]

Amendment in Import Policy Condition of Specific items covered under Chapter 29 of ITC (HS) 2022, Schedule-I (Import Policy) [Notification No.50]

Customs:

Seeks to impose anti-dumping duty on Cold Rolled Non Oriented Electrical Steel originating in or exported from China [No.35(ADD)]