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The Income Tax Department has announced new compulsory scrutiny guidelines for the fiscal year 2026, significantly impacting unrecognised political parties, educational institutions, and scientific bodies. The threshold for additions in taxable income that trigger compulsory scrutiny has been doubled, now set at ₹50 lakh for major metropolitan areas and ₹20 lakh for other regions. This change aims to address concerns over unrecognised political parties, which reportedly received over ₹10,000 crore in electoral donations from 2022 to 2024, with suspicions of slush funds being funneled through complex financial networks. The guidelines specify that cases lacking registration or approval under various sections of the Income Tax Act will be scrutinised, particularly if they claim tax exemptions in their returns. Additionally, cases subjected to surveys under section 133A since April 2023 will also be included in the scrutiny process, with notices to be served by June 30 for returns filed in FY25. 
Published: Jun 15 2025, 7 pmeznews.inTwo Air India flights faced technical issues on Monday, prompting them to return to their departure points. An Air India Express Boeing 737-8, en route from Delhi to Ranchi, turned back shortly after takeoff at 4:25 PM due to a suspected technical problem. Following inspections, the aircraft resumed its scheduled operations. In a separate incident, an Air India Boeing 787 operating flight AI 315 from Hong Kong to Delhi returned to Hong Kong at 1:17 PM after the pilot identified a technical issue, despite the aircraft being deemed safe prior to departure. The Civil Aviation Department of Hong Kong managed the situation and requested a report from Air India. The airline is arranging alternative flights for affected passengers and providing necessary assistance to mitigate inconvenience, reaffirming that safety remains its top priority.
Published: Jun 17 2025, 9 ameznews.inThe Indian government has expanded the jurisdiction of the Directorate of Public Grievances (DPG) to include issues related to Income Tax and Customs, allowing citizens to seek assistance in resolving their grievances through a dedicated redressal cell under the Cabinet Secretariat. A recent notification confirmed this extension, enabling individuals to submit complaints online or offline, along with supporting documents and details of any prior attempts to resolve the issue. The DPG will assess the complaints and engage with the relevant departments, expecting responses within specified timeframes—15 working days for initial assessment and 30 days for departmental replies. However, grievances related to policy matters, commercial contracts, and ongoing legal cases are excluded from DPG's purview. This initiative aims to enhance accountability and responsiveness within various Central Government Departments and Organizations.
Published: Jun 17 2025, 9 ameznews.inIndia's recent plane crash, the deadliest in over a decade, is poised to significantly impact the aviation insurance sector, with claims expected to reach approximately $475 million. Ramaswamy Narayanan, chairman of General Insurance Corporation of India, indicated that the claim for the aircraft hull and engine alone could total around $125 million, while liability claims for the loss of 241 lives may amount to $350 million. This figure surpasses the annual premium for the entire Indian aviation industry in 2023. The crash, which occurred in a densely populated area of Ahmedabad, is likely to lead to increased insurance premiums for airlines in India. Although domestic insurers have largely offloaded their aviation risks to global reinsurers, the financial repercussions will still reverberate through the international market, potentially leading to a tightening of aviation insurance and reinsurance rates.
Published: Jun 17 2025, 9 ameznews.inThe Karnataka High Court's recent decision to uphold a state government ban on bike taxis has led aggregators like Rapido to suspend operations as of June 16. Commuters, however, are adapting by booking rides under the 'parcel' category, with some expressing frustration over rising auto fares and limited availability. Netra, a marketing professional, highlighted the challenges of securing auto rides, prompting her to use the parcel option instead. Meanwhile, transport officials argue that bike taxis operate without proper licensing, while industry representatives call for a clearer legal framework to protect workers' livelihoods. The court has requested responses from the state and stakeholders by June 20, with a follow-up hearing set for June 24. Advocates for bike taxi services emphasize the need for regulations that address the mobility demands of urban residents, warning that the ban could exacerbate existing transport shortages.
Published: Jun 16 2025, 8 pmeznews.inIn May 2025, India’s goods exports fell by 2.17% year-on-year to $38.73 billion, following two months of growth, with declines noted in key sectors such as petroleum products, gems and jewellery, and engineering. Despite this contraction, the US remained India's largest export destination, with shipments rising 16.93% to $8.83 billion, partly driven by exporters rushing to meet deadlines before the expiration of US reciprocal tariffs. The trade deficit narrowed to $21.88 billion as imports decreased by 1.7% to $60.61 billion, influenced by reduced imports of petroleum, gold, and coal. Concerns over geopolitical tensions, particularly the Israel-Iran conflict, have raised apprehensions among exporters about future trade stability. However, Commerce Secretary Sunil Barthwal noted that India’s export performance in the April-May period outpaced global averages, highlighting the sector's resilience amid ongoing global uncertainties.
Published: Jun 16 2025, 9 pmeznews.inIndia is in discussions with the United States to finalize the early tranche of a proposed bilateral trade agreement (BTA) before the expiration of a 90-day pause on reciprocal tariffs on July 9. Commerce Secretary Sunil Barthwal confirmed that both nations have engaged in multiple rounds of negotiations, with the aim of preventing the imposition of tariffs that could affect trade relations. The US has previously announced reciprocal tariffs, including a 26% levy on India, which is currently on hold, alongside a 10% baseline tariff. India is seeking to roll back these tariffs, as well as sector-specific tariffs on steel, aluminum, and automobiles. However, uncertainties remain regarding the US's ability to commit to lowering Most Favored Nation (MFN) tariffs without Congressional approval for its Trade Promotion Authority. As negotiations continue, the US has made significant demands for market access in both industrial and agricultural sectors, which India is currently evaluating.
Published: Jun 16 2025, 9 pmeznews.inSouthern Railway has achieved a significant milestone by becoming the first zone in Indian Railways to complete 100% Automatic Block Signalling (ABS) work on the Golden Quadrilateral/Golden Diagonal (GQ/GD) network, which spans 275 km, including key routes from Chennai to Renigunta and Chennai to Arakkonam. As of June 15, the ABS has been successfully implemented in the Puttur-Pudi section, covering over 33 km, alongside the installation of an Electronic Interlocking System at Tadaku station, adhering to RDSO standards. This advancement facilitates automatic signalling from Chennai to Renigunta, enhancing the efficiency of train operations to Tirupati. The first trains to utilize the newly signalled section included Train No. 17652 Kacheguda-Chengalpattu Express and a BCN Goods train, marking a new era in railway operations for the region. The announcement was made in a statement from Southern Railways on June 16, 2025.
Published: Jun 16 2025, 7 pmeznews.inA dairy company in South India faced an 18-day shutdown due to water issues, resulting in a significant loss of customers to competitors. This incident highlights the broader water risks affecting various industries, prompting Bengaluru-based start-up FluxGen to offer comprehensive water intelligence solutions. Founded by Ganesh Shankar, FluxGen has secured over 100 clients across India, the Middle East, and Africa, focusing on mitigating water-related challenges exacerbated by urbanization and climate change. The company employs IoT and AI technologies to identify inefficiencies in water usage, helping industries reduce consumption by up to 30%. FluxGen's SaaS platform monitors water quality and compliance with regulations, including the Central Ground Water Authority's mandate to decrease groundwater withdrawal. With backing from investors like IAN Alpha Fund and Infosys founders, FluxGen aims to foster a water-secure future, having already saved over 5 billion litres of water, equivalent to filling 2,000 Olympic-sized swimming pools.
Published: Jun 16 2025, 8 pmeznews.inA new low-pressure area is set to form over south Gujarat and the adjacent north Arabian Sea on Tuesday, marking the end of a 20-day monsoon hiatus that began after its early onset in Kerala on May 24. The monsoon has recently advanced into parts of Madhya Pradesh and covered regions including Konkan, Madhya Maharashtra, and Odisha, with the India Meteorological Department (IMD) forecasting further progress into Gujarat and Madhya Pradesh over the next few days. This low-pressure system is expected to deepen due to an incoming western disturbance, which will also influence weather patterns across Central and East India. Heavy rainfall has already been reported in several states, including Madhya Maharashtra and Kerala, helping to reduce the overall rainfall deficit to 31 percent since June 1. However, significant deficits remain in East and North-West India, which are expected to benefit from the renewed monsoon activity.
Published: Jun 16 2025, 8 pmeznews.inIndia's unemployment rate rose to 5.6% in May, up from 5.1% in April, according to the Statistics Ministry's Monthly Bulletin. The female unemployment rate was slightly higher at 5.8% compared to 5.6% for males. The report, based on a survey of over 89 households involving approximately 3.8 lakh individuals, noted that the Labour Force Participation Rate (LFPR) decreased to 54.8% from 55.6% in April, with rural areas at 56.9% and urban areas at 50.4%. The Worker Population Ratio (WPR) also fell to 51.7% from 52.8%. The bulletin attributed these changes to seasonal agricultural patterns, particularly the end of the Rabi harvest, which reduced employment in rural areas, and higher summer temperatures limiting outdoor work. The decline in female LFPR was particularly pronounced in rural areas, where fewer women were engaged in casual labor or unpaid work.
Published: Jun 16 2025, 7 pm
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