The taxman has come knocking on Zomato’s door again.

The tax authorities are once again investigating Zomato, indicating ongoing scrutiny of the food delivery company's financial practices. This development suggests potential concerns over tax compliance or financial disclosures by Zomato. 

The online food delivery platform has received a service tax demand and penalty order aggregating over Rs 184 crore and it will file an appeal against it. It recently also received a GST penalty notice from Karnataka’s tax authority demanding Rs 23 crore.  Meanwhile, the engines of the Indian economy are roaring.

India’s manufacturing sector growth climbed to a 16-year high in March on the back of a strong increase in output and new orders since October 2020. The Purchasing Manager’s Index climbed to 59.1 in March, indicating growth expansion.

Also, leading defence PSU Hindustan Aeronautics Limited (HAL) recorded its highest-ever revenue from operations exceeding Rs 29,810 crore in FY24, registering an 11% growth. 

In other news, influencer marketing is growing big. According to a report by EY and Collective Artists Network’s Big Bang Social, it is poised to expand to Rs 3,375 crore by 2026. Also, every 3 out of 4 brands are expected to include influencer marketing in their strategies by 2030.

Elsewhere, March saw a 3.5% rise in venture capital funding with a capital inflow of $921 million compared with $890 million raised in February. However, this is a 34% year-over-year decline from March 2023 due to absence of large deals.

And lastly, the resources for renewable energy are abundant. Here’s how electricity can be generated even from a small stream.  

Sourced from Yourstory