eznews.inThe Income Tax Department has identified over 140,000 taxpayers with suspicious claims totaling ₹4,100 crore, prompting them to amend their Income Tax Returns. Data analytics revealed more than 200,000 taxpayers had made dubious deductions under Section 80GGC, amounting to nearly ₹5,500 crore linked to questionable Registered Unrecognised Political Parties (RUPPs) and fraudulent charitable organizations. So far, 54,000 taxpayers have corrected their filings, withdrawing ineligible claims worth approximately ₹1,400 crore. Investigations have uncovered a syndicate promoting guaranteed refunds through non-genuine donations, with enforcement actions revealing misuse of CSR-linked trusts for cash-back schemes. The Election Commission of India has begun delisting 808 non-compliant RUPPs, while the Central Board of Direct Taxes (CBDT) has compiled a report detailing these findings to enhance coordinated enforcement efforts. The crackdown aims to uphold corporate governance and political funding regulations amid rising concerns over tax evasion. 
Published: Dec 13 2025, 7 pmeznews.inThe Income Tax Department has launched the NUDGE (Non-intrusive Usage of Data to Guide and Enable) campaign to combat fraudulent donation claims made to political parties and trusts. This initiative aims to encourage taxpayers to amend their Income Tax Returns (ITRs) if they have claimed bogus deductions, particularly through donations to Registered Unrecognised Political Parties (RUPPs). The Central Board of Direct Taxes (CBDT) announced that advisories will be sent via SMS and email to affected taxpayers from December 12, 2025, with a deadline for revised returns for Assessment Year 2025-26 set for December 31, 2025. The CBDT has identified a network of intermediaries filing returns with false claims and has gathered evidence of misuse of RUPPs for illicit financial activities. Taxpayers are urged to ensure their contact details are accurate to receive important communications regarding their filings.
Published: Dec 13 2025, 5 pmeznews.inIndia's imports of Russian crude oil are set to rise further in December, following a significant increase in November, driven by discounts on Urals crude and assurances from President Vladimir Putin regarding uninterrupted supplies. The Centre for Research on Energy and Clean Air (CREA) reported that India imported crude worth approximately $3 billion last month, with imports reaching around 1.83 million barrels per day, a 13% month-on-month increase. State-owned refineries notably boosted their Russian crude volumes by 22%, capitalizing on the heavy discounts, which averaged $6.66 per barrel below Brent. Despite the challenges posed by US and EU sanctions, Russian suppliers are adapting by utilizing shadow tankers, with sanctioned vessels carrying the majority of exports. Meanwhile, Indian refiners continue to export petroleum products processed from Russian crude, although at a slower pace, highlighting the complex dynamics of global oil trade amid ongoing geopolitical tensions.
Published: Dec 13 2025, 4 pmeznews.inThe Income Tax Department of India has launched a public advisory aimed at enhancing cyber hygiene and safeguarding citizens, particularly senior citizens, from digital fraud. The advisory warns taxpayers about fraudulent emails, SMS messages, and websites impersonating the Department to steal personal and financial information. Taxpayers are urged to verify the authenticity of communications claiming to be from tax authorities and to access tax-related services only through the official portal, https://www.incometax.gov.in. The Department cautions against fake sender IDs and misleading links, emphasizing that it never requests sensitive information like OTPs or passwords via email or phone. Citizens are encouraged to report suspicious activities and share the advisory widely to protect their loved ones. The campaign underscores the message, "Think Twice, Act Wise," highlighting that awareness and vigilance are crucial in combating online tax scams.
Published: Dec 13 2025, 3 pmeznews.inAn IndiGo flight experienced a tail strike while landing at Ranchi airport on Friday evening, causing a sudden jolt for the approximately 70 passengers on board. Fortunately, all passengers were reported safe and unharmed, according to Ranchi airport Director Vinod Kumar. The incident occurred around 7:30 PM as the flight was arriving from Bhubaneswar. Following the tail strike, the aircraft was grounded due to technical issues, leading to the cancellation of its next scheduled departure back to Bhubaneswar. Some passengers opted to cancel their journeys, while others rescheduled their travel plans. A few were provided alternative transportation to their destination by road. The incident highlights ongoing safety concerns in aviation, though no injuries were reported.
Published: Dec 13 2025, 2 pmeznews.inCrisil forecasts a significant increase in profitability for cement manufacturers this fiscal year, projecting a growth of 250-300 basis points driven by a 6.5-7.5% year-on-year rise in cement volume, up from 5% last year. The first half of the fiscal saw a moderate 5% growth, with expectations of an 8-9% increase in the second half due to pent-up demand and improved liquidity. Average pan-India cement prices are expected to remain stable at ₹354-359 per 50 kg bag, despite a reduction in the GST rate from 28% to 18%, which may exert downward pressure on retail prices. However, premiumisation and strong demand are anticipated to enhance realisations. Crisil's analysis of 14 major manufacturers indicates a modest 3% price increase in the first half, with a projected overall improvement of 2.5-3.5% for the year. Operating margins are expected to expand to 18-20%, despite potential risks from rising energy costs.
Published: Dec 13 2025, 12 pmeznews.inInterGlobe Aviation, the operator of IndiGo airline, has approached the Delhi High Court seeking a refund of over ₹900 crore paid in Customs duty on aircraft engines and parts re-imported after overseas repairs. The plea was presented before Justices Prathiba M Singh and Shail Jain, who recused herself due to a conflict of interest, as her son is a pilot with IndiGo. The case will be reassigned to another bench. IndiGo argues that the Customs duty on these re-imports is unconstitutional, constituting a double levy on the same transaction, as it had already paid the basic Customs duty and Goods and Services Tax (GST) upon re-import. The airline claims that a previous Customs tribunal ruling supports its position, stating that such duties should not be levied again. Despite filing refund claims, the Customs authorities have denied them, insisting that IndiGo must first seek reassessment of each bill of entry.
Published: Dec 13 2025, 10 ameznews.inSustainable livestock nutrition in India focuses on high-quality, balanced feed, moving away from reliance on poor-quality crop residues. This approach is crucial for the country's vast livestock sector, which contributes approximately 5.5% to national GDP and 30.23% to agricultural GVA, with India being the world's largest milk producer. However, many indigenous dairy animals yield below global averages due to sub-optimal nutrition and inadequate healthcare. Enhancing livestock nutrition can significantly boost productivity and income, particularly benefiting small-scale farmers and rural women, who play vital roles in livestock management. Improved feeding practices not only increase milk and meat production but also support national food security and environmental sustainability. The growing demand for quality feed presents economic opportunities for agribusinesses, while successful adoption hinges on access to affordable fodder, farmer education, and integrated farming practices. Overall, sustainable nutrition is key to strengthening India's livestock sector and promoting rural development.
Published: Dec 13 2025, 9 ameznews.inAs the base effect on food prices diminishes, Crisil forecasts that India's headline Consumer Price Index (CPI) inflation will rise slightly to an average of 2.5% for the financial year 2025-26. In November, CPI inflation increased to 0.7% from 0.3% in October, driven by a slower pace of deflation in food and beverages and a rise in fuel costs. Although food deflation persisted for the third consecutive month, its intensity lessened, particularly in vegetables and pulses. Core inflation, excluding gold, eased to 2.5%. The Reserve Bank of India (RBI) Governor Sanjay Malhotra described the current economic climate as a "rare goldilocks period," with robust growth and low inflation. Following a recent monetary policy review, the RBI cut the repo rate to 5.25% and revised its CPI inflation forecast for 2025-26 down to 2.0%, indicating a broad-based softening in prices across goods and services.
Published: Dec 13 2025, 9 ameznews.inIndiGo Airlines has announced an estimated payout of over 5 billion rupees ($55.19 million) to customers affected by the cancellation of approximately 4,500 flights last week, which stranded thousands of passengers. The mass cancellations were attributed to poor pilot roster planning, prompting the civil aviation regulator to mandate a 10% reduction in the airline's domestic winter schedule. In a statement on social media platform X, IndiGo confirmed it is working to identify flights that severely impacted travelers on December 3, 4, and 5, and will compensate those whose flights were cancelled within 24 hours of departure. The airline has faced criticism for its inadequate planning regarding new rest periods and duty regulations, which resulted in grounded aircraft and disrupted travel. Additionally, IndiGo has revised its capacity and passenger unit revenue forecasts for the third quarter in light of the reduced winter schedule.
Published: Dec 13 2025, 9 am
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