Top Headlines: Unrealistic deadlines for EVs, Mistry's demise, and more

Amid increased scrutiny of fantasy gaming and online gaming apps, the CBDT has unearthed that participants in the activities of an Indian gaming company have won Rs 58,000 crore over the past three years. Cyrus Mistry, former chairman of Tata Sons and scion of the Shapoorji Pallonji group, died in a car accident near Mumbai on Sunday.  Read more on these in our top headlines. 

Tax dept unearths Rs 58,000 cr in winnings of players on Indian gaming app

Amid increased scrutiny of fantasy gaming and online gaming apps, the Central Board of Direct Taxes (CBDT) has unearthed that participants in the activities of an Indian gaming company have won Rs 58,000 crore over the past three years. At 30 per cent tax plus penalties, the winners have to pay about Rs 20,000 crore, CBDT Chairman Nitin Gupta told Business Standard. Read more
 

'Unrealistic': Electric vehicle makers on new safety features deadline

All the additional safety requirements for electric vehicles (EVs), including those for batteries, proposed by the government cannot be implemented with immediate effect, according to EV makers. They claimed those measures can only be in a phased, time-bound manner. The new standards — according to a draft notification issued by the Ministry of Road Transport & Highways (MoRTH) on Thursday — are to be implemented from October 1. Read more
 

Former Tata group chairman Cyrus Mistry, 54, dies in car accident

Cyrus Mistry, former chairman of Tata Sons and scion of the Shapoorji Pallonji group, died in a car accident near Mumbai on Sunday. He was 54. Mistry was travelling from Ahmedabad to Mumbai in a Mercedes car, which hit a road divider and dashed against a retention wall. Read more
 

Top 10 in broadband? India needs to go from 1.95% to 40% adoption

Mukesh Ambani’s statement at last week’s annual general meeting of Reliance Industries that his ambition is to take India into the top 10 countries in the world in terms of fixed broadband adoption, has put the spotlight on the need for the quick deployment of 5G fixed wireless access (FWA) to homes. Read more
 

Lack of photovoltaic modules slows down projects in solar power sector

Developers of solar power projects are facing uncertainties because the supply of solar photovoltaic (PV) modules has fallen way behind the demand, with significant cost hikes to boot. Sources said leading project developers, including state-owned NTPC, were not getting enough domestic suppliers for their tenders to procure solar modules. Read more