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Luxury Goods Attract 1% TCS Handbags, wrist watches, footwear, and sportswear priced above Rs 10 lakh will now incur a 1% tax collected at source (TCS), as detailed in an April 22, 2025 notification by the income tax department. This measure, introduced through the Finance Act 2024, aims to enhance transparency in high-value purchases, requiring PAN details at the time of sale, while the TCS paid can be credited against the buyer's final tax liability....

Odisha native Prasant Kumar Satpathy BHUBANESWAR: Prasant Kumar Satpathy, a 41-year-old accountant from Odisha, was fatally shot during a terror attack in Pahalgam while vacationing with his wife and child. His wife, Priyadarshini, witnessed the attack and described the incident, emphasizing the chaos that ensued as they sought help. Odisha's Chief Minister condemned the violence and is coordinating efforts to return Prasant's remains, while local authorities are assisting in the process following confirmation of his...

Tesla, led by Elon Musk, views India as a promising market but is hindered by a 100% import tariff on automobiles, causing customer anxiety regarding vehicle pricing. CFO Vaibhav Taneja noted the company is evaluating its entry timing, as Tesla has made steps like securing showroom locations and advertising job openings, while also importing a Model Y vehicle for shipping purposes. Despite discussions with Indian officials to reduce tariffs, local manufacturers oppose any reductions, complicating...

SummaryUnion Home Minister Amit Shah met grieving families of the Pahalgam terror attack victims in Srinagar, where he laid wreaths and assured them of justice, stating that security forces would pursue the perpetrators relentlessly. The attack, which resulted in at least 28 deaths, involved terrorists targeting non-local tourists at Baisaran meadows, prompting a massive manhunt by the Indian Army and J&K Police. Prime Minister Narendra Modi returned early from Saudi Arabia to address the situation,...

SummaryAn Intelligence Bureau officer, Manish Ranjan, was killed in a terrorist attack in Pahalgam while on vacation with his family, marking a tragic incident during a summer trip. The attack, which resulted in the deaths of at least 28 tourists, was claimed by The Resistance Front, linked to Pakistan's Lashkar-e-Taiba, and occurred amidst significant diplomatic visits by US and Indian leaders. This incident is noted as the deadliest targeting tourists in Kashmir since the 1990s,...

US President Donald Trump's administration announced plans to phase out eight approved synthetic food dyes by the end of 2026, citing health concerns linked to conditions like ADHD and diabetes. FDA commissioner Marty Makary emphasized that these dyes serve no nutritional purpose and primarily enhance product appearance to increase sales. The ban builds on previous restrictions and directs further research on additives' effects on children's development, though industry opposition may be less vigorous than in...