Right city, state: Devendra Fadnavis on Tesla's 1st India showroom in Mumbai
The Chief Minister further said that Mumbai is not only the financial and entertainment hub of India, but also an entrepreneurial one."Mumbai stands for innovation and sustainability. And I think, Tesla is not just a car or a car company. It is all about design, innovation and sustainability for which Tesla stands and is a testament. And I think, it's the one and only reason that it is loved globally," Fadnavis added.
Tesla's official entry into the Indian market is a big step for Elon Musk's firm, as it targets the fast-growing electric vehicle segment in the country and the world.The showroom is located at the Maker Maxity Mall in Mumbai's Bandra Kurla Complex (BKC). It will serve as the company's main display and customer experience centre, giving visitors a chance to see the vehicles up and close, and understand Tesla's technology.Tesla launched its Model Y SUV first in India, which is priced at Rs 60 lakh (USD 70,000) for customers paying in cash. The long-range rear-wheel-drive variant comes in at a higher price of Rs 68 lakh.The prices in the Indian market are the highest among major markets. For example, in the US, the Model Y starts at USD 44,990, while in China it's priced at 263,500 yuan, and in Germany at 45,970 euros. This is primarily because of import duties, as the Model Y will be sold as a completely built unit (CBU).- EndsMust Watch
IN THIS STORY#Devendra Fadnavis#Maharashtra#Mumbai#Elon Musk
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
10 minutes ago
- Economic Times
Six changes in ITR-2 Excel Utility that all taxpayers should know before ITR filing for AY 2025-26
ET Online ITR filing for AY 2025-26: Six prominent changes in ITR-2 Excel Utility that all taxpayers including salaried individuals should note The income tax department has released the Excel based utilities of most of the income tax return (ITR) forms like ITR-1, ITR-2, ITR-3, and others. However, this year (AY 2025-26), there are six significant changes in the reporting requirements for ITR-2. This form is applicable to those taxpayers who earn a salary or have non-business or professional income, as well as those with crypto, capital gains, and other types of income. Keep reading to learn more about the six changes in the reporting process for the ITR-2 form. What are the changes in the reporting process for ITR-2? The Excel-based income tax return (ITR) utilities for ITR-2 and ITR-3 were released on July 11, 2025. Here, we have listed the changes in the reporting process for ITR-2 Excel utility. The online utility (e-filing ITR portal) is yet to be Accountant Suresh Surana explains the six prominent changes in reporting mechanism in ITR-2 excel utility: Reporting of Capital Loss on Share Buyback: A new row has been added to Schedule CG – A(A) to enable the reporting of capital losses arising from payments made by a company to its shareholders for the buyback of its own shares, in accordance with Section 68 of the Companies Act, 2013. Consequently, such capital losses are now permitted, provided the corresponding dividend income is disclosed under 'Income from Other Sources'. ITR-2 excel utility Source: ITR-2 excel utility Disclosure of Dividend Income Under Section 2(22)(f): A new row has been added in Form ITR-2 to specifically capture dividend income arising under Section 2(22)(f), i.e., proceeds received by shareholders from the buyback of shares. Also read: Making these common mistakes with ITR-2 and ITR-3 while using excel based utilities? Here's how you can fix it Bifurcation of Acquisition and Improvement Costs for Real Estate Transfers: In the ITR-2 Form, resident individuals will now need to provide separate details for the cost of acquisition and cost of improvement in respect of transfers of land and buildings executed before and after 23rd July 2024 and on or after it. This change facilitates the application of indexation benefits for such transactions. ITR-2 excel utility Source: ITR-2 excel utility Enhanced Asset and Liability reporting threshold: Taxpayers whose total income exceeds Rs 1 crore are now required to report all assets and liabilities as on the last day of the financial year. Previously, this applied to individuals whose income exceeded Rs 50 lakh. Also read: ITR-2 and ITR-3 excel utility released by Income Tax Department; Taxpayers with capital gains, crypto, other incomes can now file ITR Introduction of separate columns for capital gains reporting based on date of realization: Due to the recent changes brought about by the Finance Act 2024, effective from July 23, 2024, capital gains tax rates have changed. To help with accurate reporting and compliance, separate columns have been added to distinguish between capital gains made before and on or after July 23, 2024. This distinction is important because gains from transactions executed before this date will still be taxed at the old rates, while gains realized on or after this date will follow the revised tax rates. TDS Schedule Update: A new column has been added to Schedule TDS in Form ITR-2 for specifying the relevant Section code under which tax has been deducted at source for the assessee. Chartered Accountant Ashish Niraj, Partner, A S N & Company says: "Now, various details are required for claiming Interest on loan on House Property in the old regime in ITR 2. Previously, in the old ITR 2, only the amount was required. Similarly, various details are required for HRA now. Previously, only the amount was asked for. In Capital Gains, as rates have changed post July 23, 2024 there are two different columns. Various Details required for claiming Interest on loan on House Property in the old regime in ITR 2. Before this, under the old ITR 2, only amount was needed."Chartered Accountant Gaurav Aggarwal, Key Managerial Person (KMP), Taxcare platform, says: The Income Tax Department has introduced several important updates in the ITR-2 utility for AY 2025–26. Some of these changes are: Schedule 80C – mandatory documentation Taxpayers must now provide amount eligible for deduction under Section 80C. Similarly policy number or Document Identification Number (DIN) must be mentioned. This ensures that claims under 80C are substantiated with traceable proof. Schedule HP – disclosure for interest deduction u/s 24(b) To claim interest on home loan (u/s 24(b)), one must now enter details of the loan taken in Table 24(b). This includes lender details and loan details like Loan Account number, Sanction Date, Sanctioned Amount etc. Schedule OS – dividend disclosure for buy-back claims If a taxpayer claims buy-back loss in Schedule CG, the corresponding dividend details must be filled in Schedule OS →Sl. No. 1a(iii). N.R. Narayana Murthy Founder, Infosys Watch Now Harsh Mariwala Chairman & Founder, Marico Watch Now Adar Poonawalla CEO, Serum Institute of India Watch Now Ronnie Screwvala Chairperson & Co-founder, upGrad Watch Now Puneet Dalmia Managing Director, Dalmia Bharat group Watch Now Martin Schwenk Former President & CEO, Mercedes-Benz, Thailand Watch Now Nadir Godrej Managing Director, of Godrej Industries Watch Now Manu Jain Former- Global Vice President, Xiaomi Watch Now Nithin Kamath Founder, CEO, Zerodha Watch Now Anil Agarwal Executive Chairman, Vedanta Resources Watch Now Dr. Prathap C. Reddy Founder Chairman, Apollo Hospitals Watch Now Vikram Kirloskar Former Vice Chairman, Toyota Kirloskar Motor Watch Now Kiran Mazumdar Shaw Executive Chairperson, Biocon Limited Watch Now Shashi Kiran Shetty Chairman of Allcargo Logistics, ECU Worldwide and Gati Ltd Watch Now Samir K Modi Managing Director, Modi Enterprises Watch Now R Gopalakrishnan Former Director Tata Sons, Former Vice Chairman, HUL Watch Now Sanjiv Mehta Former Chairman / CEO, Hindustan Unilever Watch Now Dr Ajai Chowdhry Co-Founder, HCL, Chairman EPIC Foundation, Author, Just Aspire Watch Now Shiv Khera Author, Business Consultant, Motivational Speaker Watch Now Nakul Anand Executive Director, ITC Limited Watch Now RS Sodhi Former MD, Amul & President, Indian Dairy Association Watch Now Anil Rai Gupta Managing Director & Chairman, Havells Watch Now Zia Mody Co-Founder & Managing Partner, AZB & Partners Watch Now Arundhati Bhattacharya Chairperson & CEO, Salesforce India Watch Now
Time of India
10 minutes ago
- Time of India
'Sumitomo Mitsui Banking Corp awaiting RBI call to buy 25% in Yes Bank'
Mumbai: Sumitomo Mitsui Banking Corp (SMBC) has already applied to India's banking regulator to buy up to a 25% stake in Yes Bank , giving the Japanese lender sufficient headroom to immediately increase its ownership, one person directly aware of the details told ET. In May SMBC had said it will buy 20% from a clutch of local banks for which it had signed an agreement. "The SMBC application pending with the Reserve Bank of India seeks to buy up to a 25% stake in Yes Bank. That is different from the binding agreement it had signed in May to buy a 20% stake from the State Bank of India (SBI) and others," said this person, on the condition of anonymity. "It means that if the RBI approval comes through, SMBC can go up to 25% after buying stakes from other investors in the bank," this person said on the condition of anonymity. Emails sent to Yes Bank , SMBC and the RBI did not elicit any response until the publication of this report. Yes Bank shares rose 2.40% to ₹20 apiece on the BSE on Tuesday. Earlier on Tuesday, news outlets citing unnamed sources had said that SMBC sought RBI approval to acquire an additional 4.9% stake in Yes Bank to take its total ownership in the bank to just under 25%. SMBC is exploring an additional investment of $1.1 billion in Yes Bank, media reports said. The person cited above told ET that SMBC always had plans to buy 25% in the Indian lender . In May, SMBC had entered into a binding agreement to take 20% ownership in Yes Bank from SBI (13.19%), and Axis Bank , Bandhan Bank , Federal Bank , HDFC Bank , ICICI Bank , IDFC First Bank and Kotak Mahindra Bank (together, 6.81%).
Time of India
10 minutes ago
- Time of India
Govt nominees on Hindustan Zinc board may quiz management on Vedanta tomorrow
New Delhi: Government nominees on the Hindustan Zinc Ltd (HZL) board will likely quiz the management on the company's dealings with its promoter Vedanta Ltd and other related parties at the next board meeting on July 17, people aware of the development said. The government had a 27.92% stake in HZL while Anil Agarwal-controlled Vedanta Ltd held 61.84% as of June 30. "The idea (behind asking fresh questions to the HZL management) is not to doubt the company's financial position or cast aspersions but to be reassured of its corporate governance practices and other financial and operational aspects," one of the persons cited above told ET. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Exclusive McAfee Discount Ends Soon McAfee Shop Now The move comes in the aftermath of short-seller Viceroy Research accusing Vedanta's parent entity Vedanta Resources this month of being a "parasite" running a "ponzi scheme" that has "pushed the entire group to the brink of insolvency." Vedanta has called the claims a "false propaganda" based on information already available in the public domain and asserted that "the authors have tried to sensationalise the context to profiteer from market reaction." Live Events The US-based short-seller has also questioned HZL's payment of about Rs 1,560 crore in "brand and strategic services" fees to Vedanta, adding that this was without commercial justification. In response to ET's queries, an HZL spokesperson said "'Vedanta' is a prominent global brand in the natural resources sector and the brand is a registered intellectual property of Vedanta Resources. Vedanta Ltd, HZL and other group companies use the brand under a brand license/sub-license agreement and pay a board-approved brand and strategic services fee for its usage." "This structure reflects a standard intercompany licensing model used globally by diversified groups and is fully compliant with Indian accounting, tax and governance regulations, and follows internationally accepted practices," the spokesperson added. Asked if the company intends to explain its stance on the Viceroy Research report to the government nominees in the July 17 board meeting, the spokesperson said as a policy, the company "does not disclose the agenda or discussion points of upcoming board meetings." "Outcomes of such meetings, as required, will be communicated through appropriate channels post conclusion." Another person said nominees of minority shareholders asking questions at a company's board meeting on emerging issues is a legitimate practice and "there is no reason why the government wouldn't do that." The HZL board has three government nominated directors.
