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TDS on property purchase above Rs 50 lakh explained: Rules, conditions and filing process
Property buyers purchasing assets valued at Rs 50 lakh or more must deduct 1% TDS before completing the transaction. This rule, under Section 194-IA, applies to non-agricultural land and aims to boost tax compliance in real estate. Buyers must deposit the tax and issue a certificate to the seller, ensuring accurate reporting of high-value deals.
Layoffs announced at Sam Altman's $2.5 billion startup amid revenue struggles
Sam Altman's eyeball-scanning startup, Tools for Humanity, is reportedly cutting jobs as it navigates its next strategic phase. Despite a significant valuation and user sign-ups, the company faces challenges in demonstrating revenue generation and regulatory approval for its "Orb" technology. This news emerges as OpenAI, also led by Altman, files for its IPO.
Top Republican pushes for reconciliation 3.0 to address affordability
As Congress scrambles to assemble a third reconciliation package, the Chairman of the Republican Study Committee (RSC) struck an optimistic tone in an interview on the Ruthless Podcast."On affordability, on fraud, and on defense, I think that we're going to run a two-minute drill," Rep. August Pfluger, R-Texas, said in an exclusive interview released Tuesday morning. "In fact, we’re in the middle of planning for it right now."Reconciliation is a budget-related measure that can pass the Senate on...
Oil market defies predictions of summer supply crunch
Crude prices stay below $100 a barrel as China’s import cuts help eke out global stockpiles
Strait of Hormuz closure: Why high oil prices may be a temporary shock only - explained
Oil prices may average at around $87 per barrel in 2026 as the reopening of Strait of Hormuz in the coming months would ease crude supplies globally, says Fitch Ratings. Global oil markets are likely to move back into surplus once shipping through the Strait of Hormuz resumes, despite the sharp rise in prices caused by the closure of the key maritime route, the report says.
Fitch trims India's growth forecast to 6.4% as Middle East turmoil clouds outlook
Fitch Ratings has lowered India's FY27 GDP forecast to 6.4% due to rising costs from Middle East conflict impacting consumer spending. While domestic demand remains a driver, higher prices are expected to reduce purchasing power, with the most visible impact in Q2 and Q3 of FY27.
World’s largest banks pledged $906bn to fossil fuel companies in ‘unfathomable’ increase in 2025, report finds
JPMorgan Chase leads 65 banks making decisions incompatible with restraining rising temperatures, researchers sayThe world’s largest banks committed $906bn in financing to the fossil fuel industry last year, an “unfathomable” increase in investment locking in years more of coal, oil and gas production as the world continues to overheat, a new report has found.The surge in new fossil fuel lending, up $64bn or nearly 8% on 2024, shows that the world’s largest 65 banks are making decisions incompat...
CBI Begins Probe Into Tamil Nadu's Rs 397 Crore Transformer Tender Scam
CBI investigates alleged Rs 397 crore loss in Tamil Nadu transformer procurement tenders.
Budget likely to be announced on June 12, says minister
Parliamentary Affairs Minister Tariq Fazal Chaudhry said on Tuesday that the budget would likely be announced on June 12. He posted this on X, further stating that summaries to convene budget sessions in the National Assembly and Senate on June 10 had been sent. More to follow
Meta launches 'America's Workforce Academy', CEO says US will need thousands of skilled workers
Mark Zuckerberg announced Meta's America's Workforce Academy (AWA), a new initiative offering free training and job pathways in skilled trades. This program aims to address the projected need for hundreds of thousands of trade workers to build the infrastructure for the United States' AI ambitions. Meta is partnering with various organizations to deliver this crucial training.
SpaceX IPO Is A $1.77 Trillion Bet On An Orbital Economy
BreakingInnovationScienceSpaceX IPO Is A $1.77 Trillion Bet On An Orbital EconomyByJamie Carter,Senior Contributor.Forbes contributors publish independent expert analyses and insights. An award-winning reporter writing about stargazing and the night sky.Follow AuthorJun 09, 2026, 03:31am EDTToplineMost people assume the upcoming SpaceX initial public offering (IPO) of shares on the Nasdaq stock index — where shares will sell for $135 each — is a bet on rockets. Yet rockets may ultimately be the...
GSK to buy US cancer treatment firm Nuvalent for $10.6bn
British drugmaker’s new chief executive Luke Miels announces one of its biggest dealsBusiness live – latest updatesGSK’s new boss Luke Miels has struck one of the British drugmaker’s biggest deals, announcing the $10.6bn (£7.9bn) acquisition of a US cancer specialist with two-late stage medications.The FTSE 100 company is boosting its oncology portfolio by agreeing to buy Nuvalent, a Boston-based company that develops cancer drugs, including three for lung cancer. Continue reading...
Karnataka's 5.2 floor area ratio limit: Check how it could impact homebuyers
Karnataka has significantly boosted its Floor Area Ratio (FAR) for industrial zones, allowing developers to build taller structures. This move, particularly impactful for Bengaluru's booming real estate market, aims to increase housing supply and potentially ease soaring property prices. However, developers will incur premium fees, which might influence buyer costs.
US adds popular Chinese firms to Pentagon's 'Chinese military company' list: Who's on it?
The Pentagon on Monday reinstated and expanded a list of Chinese companies it accuses of supporting China's military, naming major firms including Alibaba Group Holding, Baidu Inc., Tencent Holdings and electric vehicle maker BYD Co. The move is likely to add further strain to already tense US-China relations.
Rs 1.2 lakh penalty on postal department for losing customer’s Pashmina shawls parcel
The Baramulla Consumer Commission has delivered a decision, holding postal services accountable for the mishap involving a lost parcel that contained three luxurious Pashmina shawls, collectively valued at Rs 60,000. Despite the postal authorities' reliance on the Indian Post Office Act, the Commission ruled against them, identifying a concrete deficiency in the service provided.
ITR filing FY 2025-26: Top things salaried taxpayers should know
ITR filing FY 2025-26: The tax returns filing season is here and ahead of the July 31, 2026 deadline, taxpayers are compiling important documents that are needed every year to file the income tax return. One such document that is particularly important for salaried taxpayers is Form 16.
Zoji La breakthrough: Glimpses of the world's longest high-altitude bi-directional road tunnel
Zoji La tunnel, said to be the world’s longest single-tube bi-directional road tunnel at such a high altitude, has achieved a major milestone on Tuesday. The 13.153-km-long Zoji La Tunnel saw breakthrough which marked a landmark moment.
SpaceX IPO fever sparks hunt for proxy plays in Asia - Emirates 24|7
SpaceX IPO fever sparks hunt for proxy plays in Asia Emirates 24|7
Airlines Spent 78% More On Jet Fuel Despite Lesser Utilisation: US Data
US carriers spent $6.5 billion on fuel in April, compared with about $3.6 billion a year earlier, according to the Bureau of Transportation Statistics
More measures on gold coming? Finance ministry asks banks for information on gold loans
In a move that may possibly be a sign of upcoming measures on gold, the finance ministry has directed bullion-importing banks to furnish detailed information on gold metal loans and loans backed by gold from 2023 onwards.