15 Essential Accounting, Tax & Corporate Secretarial Stories for CFOs

Today's media monitoring review captures 15 defining developments across Indian accounting, tax, and corporate secretarial news — from GST evasion crackdowns to tribunal reforms and corporate governance updates. According to Press Monitor's tracking of Indian publications, these stories reflect the evolving landscape of media monitoring and print media monitoring for finance and compliance professionals. Here is the essential news on accounting, tax, and corporate secretarial you need to know.

1. Singapore Tax Revenue Rises 9.4%

A front-page report in Morning Standard says the Inland Revenue Authority of Singapore collected $97.3 billion in tax revenue for financial year 2025-26, up 9.4% from the previous year, amid stronger economic activity. Corporate income tax was the largest contributor at $34.4 billion, followed by GST at $21.7 billion. The revenue accounted for 74.8% of government operating revenue and 12.3% of GDP.

Why it matters: Singapore's tax revenue growth signals stronger economic activity and offers a benchmark for Indian tax policy discussions. Key detail: The Inland Revenue Authority of Singapore collected $97.3 billion in tax revenue for FY 2025-26, up 9.4% year-on-year, with corporate income tax contributing $34.4 billion and GST $21.7 billion. Source: Morning Standard and New Indian Express. Next step: Finance leaders should monitor cross-border tax revenue trends for strategic planning. How does this compare to India's own tax collection trajectory?

2. Rs 22.53 Crore GST Evasion Uncovered

A front‑page report in Tribune says that the state government has unearthed an alleged rupees twenty‑two point five three crore GST evasion involving Mandi Gobindgarh‑based Jagat Metals Private Limited, with on‑spot cash recovery of rupees nine point five crore. Finance, Planning, Excise and Taxation Minister Harpal Singh Cheema said the Taxation Department had started strict proceedings against the firm following an intelligence‑led investigation.

Why it matters: This front-page GST evasion case demonstrates the growing rigor in tax enforcement and the scale of financial irregularities being uncovered. Key detail: The state government unearthed an alleged Rs 22.53 crore GST evasion involving Mandi Gobindgarh-based Jagat Metals Private Limited, with on-the-spot cash recovery of Rs 9.5 crore. Finance Minister Harpal Singh Cheema confirmed the Taxation Department has started strict proceedings following an intelligence-led investigation. Source: Tribune. Next step: Compliance teams should audit their GST filing patterns for anomalies. Is your organization prepared for a similar intelligence-led investigation?

3. GST Council October 7 Tax Credit Relief Demand

A front-page report in Business Standard says industry bodies have stepped up demands for a system allowing seamless use of tax credits across states ahead of the GST Council meeting on October 7. Businesses seek the ability to set off tax liability in one state with unused credits available with an arm in another state, a facility experts suggest could initially cover CGST and IGST credits. The Association of NoteBook Manufacturers also called for minimum import price on imported notebooks and changes to customs rules for exports.

Why it matters: Cross-state tax credit mobility could significantly impact working capital for businesses operating across multiple states. Key detail: Industry bodies have stepped up demands for seamless use of tax credits across states ahead of the GST Council meeting on October 7. Businesses seek the ability to set off tax liability in one state with unused credits available in another, potentially covering CGST and IGST credits. The Association of NoteBook Manufacturers also called for a minimum import price on imported notebooks. Source: Business Standard. Next step: CFOs should assess how cross-state credit mobility could impact their working capital strategy. Is your tax credit strategy state-ready?

4. Tax Harvesting and Capital Gains Strategies

A front-page report in Hindustan Times says nearly 73% of taxpayers have opted for the New Tax Regime as of August 2024, shifting focus from Section 80C investments to broader tax efficiency strategies. With market-linked assets growing, understanding capital gains rules, tax harvesting, and property sale exemptions under Section 54 has become essential for investors seeking to optimize their final tax bills.

Why it matters: With 73% of taxpayers on the New Tax Regime, understanding capital gains rules and tax harvesting is critical for optimizing final tax bills. Key detail: Nearly 73% of taxpayers have opted for the New Tax Regime as of August 2024, shifting focus from Section 80C investments to broader tax efficiency strategies. Market-linked assets growing make capital gains rules, tax harvesting, and property sale exemptions under Section 54 essential. Source: Hindustan Times. Next step: Investors should review their portfolios ahead of the filing season. Have you mapped your capital gains exposure for the year?

5. HDFC Bank Sale Auction at Rs 25.8 Crore

A front-page report in Tribune says HDFC Bank has announced a public auction for a 72‑kanal land parcel in Bhambhewa village, Jind district, with a reserve price of Rs 25.84 million. The auction is organised by the Debt Recovery Tribunal in Chandigarh and overseen by M/s C‑L India Private Limited. Bidders must deposit earnest money and provide identity documents to participate.

Why it matters: DRT-driven asset recoveries are a growing segment that real estate and banking professionals should monitor. Key detail: HDFC Bank has announced a public auction for a 72-kanal land parcel in Bhambhewa village, Jind district, with a reserve price of Rs 25.84 million. The auction is organised by the Debt Recovery Tribunal in Chandigarh and overseen by M/s C-L India Private Limited. Bidders must deposit earnest money and provide identity documents. Source: Tribune. Next step: Real estate professionals should track DRT auctions in their regions. Are you monitoring DRT-driven asset recoveries in your area?

6. Advance Tax Deadlines Explained

A front-page report in Hindustan Times says knowing capital gains tax rates and timelines can help plan asset sales more accurately. Advance tax is payable in four installments during a financial year if net tax liability after deducting TDS is Rs 10,000 or more. Experts note that retail investors often avoid capital gains planning due to perceived complexity, but missing deadlines can result in interest penalties of one percent per month.

Why it matters: Missing advance tax deadlines can result in interest penalties of one percent per month, making calendar planning essential. Key detail: Advance tax is payable in four installments during a financial year if net tax liability after deducting TDS is Rs 10,000 or more. Retail investors often avoid capital gains planning due to perceived complexity, but penalties are steep. Source: Hindustan Times. Next step: Compliance teams should set calendar reminders for each installment. When is your next advance tax payment due?

7. Income Tax Raids on Dentsu India

A front-page report in Economic Times says the Income Tax Department searched Dentsu India operations across Mumbai, Delhi, Bengaluru, and Chennai last week, examining records and questioning employees at more than twenty group entities. The investigation wing is expected to soon prepare a report based on seized documents and statements, which will be shared with the assessment wing to examine findings and issue assessment notices if any demand arises. Dentsu's financial report for FY2025 had revealed the company investigated questionable transactions involving an Indian subsidiary and reported them to Indian regulators, with parties demanding Rs 22.8 crore for allegedly supplying goods and services that Dentsu disputes.

Why it matters: Multi-city tax raids on a major advertising firm highlight the scrutiny on inter-company transactions and royalty payments. Key detail: The Income Tax Department searched Dentsu India operations across Mumbai, Delhi, Bengaluru, and Chennai, examining records and questioning employees at more than twenty group entities. The investigation wing is expected to prepare a report based on seized documents. Dentsu's FY2025 report had revealed the company investigated questionable transactions involving an Indian subsidiary with parties demanding Rs 22.8 crore. Source: Economic Times. Next step: Corporate compliance officers should review their inter-company transaction documentation. Is your transfer pricing documentation audit-ready?

8. Income Tax Department Delhi Recruitment for Standing Counsels

A front-page report in Times of India says the Commissioner of Income Tax (Judicial), Delhi, has invited applications for empanelment as Senior and Junior Standing Counsels to represent the Income Tax Department in direct tax appeals and related litigation before Delhi High Court, NCLT, NCLAT and other judicial fora in Delhi for a tenure of three years. Eligibility criteria, terms and conditions, and the prescribed application format are available on the official website of the Income Tax Department. The last date for submission of applications is 25 September 2026 at the prescribed e-mail id.

Why it matters: This recruitment drive opens a significant career opportunity for legal professionals in tax litigation. Key detail: The Commissioner of Income Tax (Judicial), Delhi, has invited applications for empanelment as Senior and Junior Standing Counsels to represent the department in direct tax appeals before Delhi High Court, NCLT, NCLAT, and other judicial fora for a three-year tenure. The last date for submission is 25 September 2026. Source: Times of India. Next step: Legal professionals in tax litigation should consider this opportunity. Are your teams prepared for the application process?

9. Belrise Industries Recommends Rs 0.55 Dividend

A front-page report in Financial Express says Belrise Industries Limited has scheduled its Thirtieth Annual General Meeting for 30 September 2026 at Gateway Aurangabad. The board has recommended a final dividend of Rs 0.55 per equity share for the financial year 2025-26, subject to shareholder approval. Remote e-voting will run from 27 to 29 September 2026, with Practising Company Secretary Makarand Lele appointed as the independent scrutiniser.

Why it matters: AGM season is underway and company secretaries must ensure compliance with all statutory timelines. Key detail: Belrise Industries Limited has scheduled its Thirtieth Annual General Meeting for 30 September 2026 at Gateway Aurangabad. The board has recommended a final dividend of Rs 0.55 per equity share for FY 2025-26, subject to shareholder approval. Remote e-voting will run from 27 to 29 September 2026, with Practising Company Secretary Makarand Lele appointed as the independent scrutiniser. Source: Financial Express. Next step: Company secretaries should ensure AGM compliance timelines are met. Is your AGM preparation on track?

10. Bharat Nidhi Limited's 83rd AGM Notice

A front-page report in Financial Express says Bharat Nidhi Limited has issued a notice for its 83rd Annual General Meeting, book closure, and e-voting. The meeting will be held on Wednesday, September 30, 2026, at 1:30 PM through video conferencing, with the register of members closed from September 24 to September 30, 2026. The notice also outlines remote e-voting procedures, tax deduction on dividends, and the appointment of Mr. Mohit Bansal as the e-voting scrutineer.

Why it matters: Corporate governance teams must review e-voting procedures and dividend tax deduction norms as AGM season peaks. Key detail: Bharat Nidhi Limited has issued a notice for its 83rd Annual General Meeting, book closure, and e-voting. The meeting will be held on 30 September 2026 at 1:30 PM through video conferencing, with the register of members closed from 24 to 30 September 2026. Mr. Mohit Bansal has been appointed as the e-voting scrutineer. Source: Financial Express. Next step: Corporate governance teams should review e-voting procedures and dividend tax deduction norms. Has your company finalized its AGM agenda?

11. Rs 75 Crore CREST Fraud: CBI Likely to Chargesheet Former CEO

A front-page report in Tribune says CBI is likely to chargesheet former CREST CEO Navneet Srivastava this week over the alleged misappropriation of approximately Rs 75 crore from CREST bank accounts maintained with IDFC Bank in Chandigarh. Srivastava was arrested in June after investigations revealed funds were siphoned to shell companies and a private company in which his wife and a close relative are directors. CREST project director Sukhwinder Singh Abrol and accountant Sahil Kukkar were also arrested and chargesheeted in the case.

Why it matters: This high-value fraud case underscores the need for robust internal controls against fund misappropriation in financial institutions. Key detail: The CBI is likely to chargesheet former CREST CEO Navneet Srivastava over the alleged misappropriation of approximately Rs 75 crore from CREST bank accounts maintained with IDFC Bank in Chandigarh. Srivastava was arrested in June after investigations revealed funds were siphoned to shell companies. CREST project director Sukhwinder Singh Abrol and accountant Sahil Kukkar were also arrested. Source: Tribune. Next step: Financial institutions should strengthen internal controls against fund misappropriation. How robust are your fraud detection mechanisms?

12. Notebook Industry Faces Existential Crisis

A front-page report in The Hindu says the All India Notebook Manufacturers Association has appealed to the government to prevent the domestic notebook industry from facing an existential crisis. The crisis, triggered by India's free trade agreement with Southeast Asian countries and the revision of GST rates in September last year, has created an asymmetrical trading environment that penalises domestic production while incentivising imports. The Association has proposed a Minimum Import Price for notebooks, anti-dumping investigations into imports from Indonesia, export refund streamlining, and an inquiry into alleged anti-profiteering by domestic paper mills.

Why it matters: Trade policy changes and GST revisions are creating existential threats to domestic manufacturing, with implications beyond the notebook sector. Key detail: The All India Notebook Manufacturers Association has appealed to the government to prevent the domestic notebook industry from facing an existential crisis, triggered by India's free trade agreement with Southeast Asian countries and the revision of GST rates. The Association has proposed a Minimum Import Price for notebooks, anti-dumping investigations, and export refund streamlining. Source: The Hindu. Next step: Manufacturers and trade associations should engage with policymakers on protectionist measures. What steps is your industry taking to address import competition?

13. National Tribunal Commission Reform Drive

A front-page report in Business Line says Law Minister Arjun Ram Meghwal has invited stakeholder suggestions to strengthen the National Tribunal Commission. Speaking at the inauguration of the new Income Tax Appellate Tribunal premises in Kolkata on 18 July 2026, he highlighted the tribunal's pivotal role in India's legal ecosystem and broader judicial reforms. Officials emphasized efforts to reduce case backlogs, particularly for seven north eastern states, while implementing artificial intelligence driven processes under upcoming tax legislation.

Why it matters: AI-driven processes in tax tribunals will transform how tax litigation is conducted, requiring practitioners to adapt. Key detail: Law Minister Arjun Ram Meghwal has invited stakeholder suggestions to strengthen the National Tribunal Commission, speaking at the inauguration of the new Income Tax Appellate Tribunal premises in Kolkata. Officials emphasized efforts to reduce case backlogs, particularly for seven north-eastern states, while implementing AI-driven processes under upcoming tax legislation. Source: Business Line. Next step: Tax practitioners should prepare for digital transformation in tribunal proceedings. How will AI-driven processes affect your tax litigation strategy?

14. Income Tax Department Delhi Seeks Standing Counsels

A front-page report in Hindustan Times says the Income Tax Department, Delhi invites applications for empanelment as Senior and Junior Standing Counsels to represent the department in direct tax appeals and related litigation before the Delhi High Court, NCLT, NCLAT and other judicial fora in Delhi for a tenure of three years. Eligibility criteria, terms and conditions and the prescribed application format are available on the official website of the Income Tax Department, and the last date for submission is 25 September 2026 at the prescribed e-mail ID. Applications that are not in the prescribed format, incomplete, late, or not received via the prescribed e-mail are liable to be rejected.

Why it matters: This second recruitment notice for Standing Counsels highlights the growing litigation burden on the Income Tax Department. Key detail: The Income Tax Department, Delhi invites applications for empanelment as Senior and Junior Standing Counsels to represent the department in direct tax appeals before the Delhi High Court, NCLT, NCLAT, and other judicial fora for a three-year tenure. Applications not in the prescribed format, incomplete, late, or not received via the prescribed e-mail are liable to be rejected. The last date is 25 September 2026. Source: Hindustan Times. Next step: Legal professionals should ensure applications meet all prescribed requirements. Have you submitted your application?

15. Centre Seeks Transfer of Ambani's Black Money Act Petition

A front-page report in Free Press Journal says the Centre has asked the Supreme Court to transfer industrialist Anil Ambani's petition challenging the Black Money Act from the Bombay High Court to the Delhi High Court, citing prolonged pendency and huge revenue implications. The Supreme Court, however, questioned the need to prefer one High Court over another, indicating that a transfer may not be necessary.

Why it matters: Black Money Act litigation involving major industrialists has significant implications for corporate tax compliance and enforcement. Key detail: The Centre has asked the Supreme Court to transfer industrialist Anil Ambani's petition challenging the Black Money Act from the Bombay High Court to the Delhi High Court, citing prolonged pendency and huge revenue implications. The Supreme Court, however, questioned the need to prefer one High Court over another, indicating that a transfer may not be necessary. Source: Free Press Journal. Next step: Corporate legal teams should monitor Black Money Act litigation closely. What is your view on the Supreme Court's stance on this transfer request?

These 15 stories highlight the dynamic intersection of accounting, tax, and corporate secretarial developments in India. Stay informed with Press Monitor's daily print media intelligence. Which story will have the biggest impact on your compliance calendar this quarter?