Sunday, October 25
Electric car sales in India rose 20% in 2024, closing the year just below 100,000 units sold compared to 82,688 the previous year. Price cuts toward the end of the year is said to have boosted the sales.This growth occurred despite consumer concerns about charging infrastructure, battery life, and resale values, according to the Federation of Automobile Dealers Associations (FADA). Electric vehicles made up 2.4% of the total 4.07 million vehicles sold, up from 2.1% in 2023. Gasoline, diesel, and hybrid vehicles still dominated the market.Tata Motors remained the top electric vehicle seller with 61,496 units sold in 2024, compared to 60,100 in 2023. However, their market share decreased from 73% to 62%. Tata offers electric versions of several models, and plans to release electric versions
Mumbai: Aadhaar-based payments through facial recognition, piloted through the Covid peak by the National Payments Corporation of India (NPCI), have failed to take off even a year after its implementation. State Bank of India, Union Bank of India, and Bank of India, large public-sector banks with millions of customers, have not implemented the project as they want Aadhaar's administrator to make a desktop or laptop version of the service."The reason payments through face authentication has failed to take off is because only 23 banks are currently offering this service," said a banking industry official. "Public sector banks have asked for a web-based solution, which the UIDAI is still developing."Presently, UIDAI (Unique Identification Authority of India) has developed a mobile application
Non-Resident Indians (NRIs) often face challenges navigating India’s tax system, where residency status—not nationality—determines tax liability. While residents are taxed on their global income, NRIs are only taxed on income earned or accrued in India, such as rent or bank interest. However, procedural hurdles, such as obtaining certificates, filing forms, and managing payments, can make compliance cumbersome. Budget 2025 offers a chance for the government to address these challenges, streamline processes, and provide much-needed relief to the Indian diaspora.Setting thresholds for Tax Residency CertificatesNRIs claiming benefits under tax treaties must furnish a Tax Residency Certificate (TRC) to avail lower tax rates or other benefits. Speaking to TOI's Lubna Kably, the Bombay Cha
