Overseas holdings under scrutiny: IT dept flags non-disclosure; taxpayers get last chance to revise ITRs- get details
The Income Tax department is alerting taxpayers with undisclosed foreign assets about potential penal action. Individuals identified with unreported overseas assets for AY 2025-26 will receive SMS and email advisories. They are urged to file revised returns by December 31, 2025, to ensure timely and accurate compliance with tax laws.
Chemical slump deepens: Wacker Chemie to cut 1,500 jobs; German sector hit by high energy costs and weak demand
German chemical giant Wacker Chemie is set to eliminate 1,500 jobs, approximately 10% of its global workforce, by the end of 2027. This significant reduction, primarily in Germany, is part of a strategy to save over 300 million euros annually. The company cited weak demand, intense competition, and high energy prices as key drivers for
US–China trade thaw? Beijing buys $300 million in US soybeans after Trump–Xi phone call
China has purchased at least 10 cargoes of US soybeans, valued at approximately $300 million, following a call between Presidents Trump and Xi. These deals signal a potential thaw in trade relations, with shipments scheduled for January. Despite higher prices than Brazilian alternatives, state-run COFCO has been a significant buyer, with broader purchase agreements in
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Aadhaar cleanup: UIDAI disables 2 crore deceased persons’ IDs; MeitY urges families to report deaths
India’s UIDAI has deactivated over 2 crore Aadhaar numbers of deceased individuals, a significant step in cleaning its database. This initiative, drawing data from various government sources, aims to prevent identity fraud and misuse of welfare benefits. Family members can now report deaths online, streamlining the deactivation process and enhancing security.
Cabinet clears two major rail multitracking projects in Maharashtra & Gujarat – details
The Indian government has approved two major railway projects totaling Rs 2,781 crore, adding 224 km of track in Maharashtra and Gujarat. These initiatives aim to boost connectivity, ease congestion, and support economic growth, aligning with the PM Gati Shakti vision. The projects will enhance mobility for millions and significantly improve freight movement, contributing to
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No finance degree needed: Sebi widens eligibility for advisers and analysts; all you need to know
Sebi has broadened eligibility for investment advisers and research analysts, now permitting graduates from any discipline to register, provided they meet certification requirements. This move significantly expands the talent pool for these regulated roles. Additionally, Sebi has eased corporatisation rules for individual advisers, offering more time for transitions after crossing client or fee thresholds.
Inflation? Why Thanksgiving is cheaper this year (and what that says about the economy)
Let’s begin with the headline. The average cost of the classic Thanksgiving dinner for ten has dipped a few percentage points. The centrepiece of this softened inflation narrative is the turkey. A standard bird is significantly cheaper this year — the sharpest drop in years — and it has lowered the overall cost of the
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