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Now the New Delhi-based Global Trade Research Institute has sounded a…

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Time of India
27 minutes ago
- Time of India
AI font forensics helps income tax (I-T) in Hyderabad bust Rs 68 lakh LTCG fraud; exposes forged document from 2002
HYDERABAD: In a case that underscores how digital forensics and generative AI tools are transforming tax enforcement, the income tax (I-T) department has unearthed a case of tax evasion involving forged improvement bills submitted to reduce capital gains liability. The case pertains to a Hyderabad-based taxpayer who sold an immovable property for Rs 1.4 crore. But in his I-T returns, he drastically reduced his capital gains liability by claiming deductions of Rs 68.7 lakh under the head 'cost of improvement with indexation,' in addition to an indexed acquisition cost of Rs 73 lakh. As a result, the long-term capital gains (LTCG) declared was a mere Rs 24,774. The fraud was caught after AI tools found the font in a document didn't exist in that year. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad AI flags fake document through Calibri font The claimed cost of improvement spanned years 2002–03 to 2007–08, with the original value of Rs 24 lakh indexed to Rs 68.7 lakh. To substantiate his claim, the assessee submitted photocopies of expenditure bills dated between 2002 and 2008. One bill (July 6, 2002) showing an expense of Rs 7.68 lakh raised red flags in I-T department. A forensic analysis using generative AI tools revealed the document's text was in 'Calibri (body)' font. Investigators found Calibri was designed between 2002 and 2004, but released to the public in 2006, becoming Microsoft Office's default font in 2007. Since the font did not exist at the time bill was purportedly issued, officials concluded the document was fabricated. The assessee claimed the copies were found in an old folder belonging to his late father. He admitted he could not verify its authenticity. He withdrew claim, filed a revised return excluding cost of improvement, and paid taxes based on the corrected capital gains.


Hindustan Times
33 minutes ago
- Hindustan Times
Explainer: Will Tesla's launch in India make a major impact in the country's EV market? How will the dynamics change?
Tesla India has inaugurated its first experience centre showroom in Mumbai's Bandra Kurla Complex in Mumbai. (Photo by Satish Bate/ Hindustan Times) (Hindustan Times) Check Offers The most hyped electric car manufacturer in the world, Tesla, has finally launched its electric car officially in India. The US-based electric car manufacturer launched its Model Y crossover in India as the brand's first EV in the country. While Tesla's entry was initially thought to disrupt the Indian electric passenger vehicle market, now it seems unlikely, at least in the near term. However, if the automaker considers local manufacturing and starts selling electric cars at a more affordable price range, then it may become a disruption in the coming years. Launched at a pricing range between ₹ 59.89 lakh and ₹ 67.89 lakh (ex-showroom), the Tesla Model Y sits in the premium electric car segment in India, which still remains a niche in the country, despite fast growth pace witnessed in the last few years, owing to the rising population of millionaires and their appetite for high-end cars. No wonder Tesla's arrival of its flashy Model Y could further fuel these rich consumers' appetite. Between January and May 2025, India's luxury electric car sales have surged 66 per cent on a year-on-year (YoY) basis, revealed industry data. The luxury electric cars now account for 11 per cent of total luxury car sales in India, which is seven per cent up from what was recorded in the same period last year. This growth is being spearheaded by Mercedes-Benz, BMW and Audi. Tesla's official entry in India has created quite some excitement in the country, but unlikely to pose any significant disruption in the industry in short term. (Bloomberg) No disruption in the short term Tesla's entry into the Indian electric car market is unlikely to create any major disruption in the short term. The Indian passenger vehicle market, or even the electric car segment too is driven majorly by the sales of the affordable products that are positioned in the under ₹ 20 lakh category. When it comes to luxury cars, or luxury electric cars, they still contribute a little to the overall electric car sales in the country. Hence, car brands that have been selling luxury electric cars in the country, including OEMs such as Mercedes-Benz, Audi and BMW, are unlikely to face any immediate threat from Tesla. In a nutshell, despite the initial excitement, Tesla's car sales numbers in India are expected to remain modest in the near term, and one of the key reasons behind that is that premium pricing will make its vehicles unaffordable for more than 95 per cent of car buyers in India. Tesla has been known for bringing disruptive automotive technologies into the market, which may create challenges for the other auto OEMs in the Indian market in the long run. (Bloomberg) India-US trade deal could play a key role for Tesla The timing of Tesla's official car launch in India is an interesting factor in this whole story. The automaker launched its Model Y crossover in India at a time when the country is negotiating and inching closer to a trade deal with the US, where the EV manufacturer has its base. While Tesla is initially selling its cars in India as Completely Built Units (CBUs) models, it could get potential benefits from the India-US trade deal. If the governments of these two countries come to an agreement to reduce the import taxes, Tesla could see a major pricing advantage. In that case, the Tesla cars could see a price cut in the country, which will eventually boost their sales significantly in the Indian market. Tesla will initially sell only the Model Y crossover as a CBU model in India, while at a later stage, the OEM may bring more models and even start local manufacturing of its cars as well. (Photo by Satish Bate/ Hindustan Times) (Hindustan Times) (HT_PRINT) Tesla may bring massive disruption in the long term While there is no immediate disruption in the Indian electric car market due to Tesla's arrival, in the long term, the scenario may change drastically. Elon Musk's company could explore the possibility of setting up a local manufacturing plant in India within the next few years. This will help the brand to price its cars aggressively against competitors, eventually reaching more consumers. Local manufacturing will also help the brand to get the benefits of the government schemes, while it will also enable Tesla to enhance its presence in other markets in the region. With the local manufacturing strategy, we may see Tesla introducing its much-talked Model 2 in the country, which could be a game-changer for the brand and for the industry as well. Further, the entry of a brand in India, like Tesla, is expected to boost consumer awareness and expectations. This will enhance the consumer's interest in electric vehicles and will set new benchmarks in modern automotive technology. Tesla, which has been known for bringing a plethora of advanced technologies in its cars, may propel other auto OEMs and stakeholders in the industry to step up their efforts and investment in innovations in the electric vehicle comprehensive ecosystem. Check out Upcoming EV Cars in India, Upcoming EV Bikes in India. First Published Date: 17 Jul 2025, 10:07 am IST


Time of India
39 minutes ago
- Time of India
Pune techie, too shy to ask for a promotion, turns to ChatGPT for answers. And it worked
Enter: ChatGPT Rohit, a Pune-based Product Manager, had always believed his work should speak for itself. Like many corporate professionals, he kept his head down, clocked long hours, and delivered real impact. Yet, when it came to asking for the next level—his voice wavered. 'How do I talk about my contributions without sounding full of myself?' he wondered. The fear of coming off as arrogant kept him quiet for years—until one night, he turned to an unlikely ally: Rohit, the discomfort wasn't about performance. He had led high-impact projects, improved client retention, and saved dozens of hours through process improvements. But talking about it? That was the hard part. Like many professionals, Rohit struggled with packaging his achievements in a way that felt natural, assertive, and not boastful. He waited and hoped his efforts would be noticed. But as he puts it: 'That rarely happens.'In a moment of late-night frustration, Rohit typed out a simple request to ChatGPT. He asked it to help him write a professional pitch for a promotion, using simple, human language—no corporate fluff, no robotic jargon. What he got back wasn't just a script. It was confidence in a also generously shared the exact ChatGPT prompt that helped him flip the switch. Here it is: 'I want to write a professional promotion pitch in simple, human English. I currently work as [YOUR CURRENT ROLE] and want to move into [YOUR TARGET ROLE]. Here's some info: [LIST BIG ACHIEVEMENTS], [SMALL WINS OR INITIATIVES], [TEAM OR BUSINESS IMPACT], [ANY SKILLS OR CERTIFICATIONS]. Write a short pitch under 200 words, no bullet points, no robotic language, and end with a polite ask for next steps.'Whether you're in tech, marketing, sales, or support, if you're doing good work but struggling to speak up about it, maybe it's time to ask the right questions.