JPMorgan Chase has for the first time admitted it closed the bank accounts of President Donald Trump and his businesses a month after the 2021 US Capitol riots. This comes a month after Trump sued the largest US bank and its CEO for ₹45,800 crore over 'debanking'. In a court filing, a JPMorgan executive revealed informing Trump about the closure.

Draft Income Tax Rules 2026 introduced a key compliance change by mandating disclosure of 'relationship with landlord' in Form number 124 to curb tax evasion instead of prohibiting genuine rental agreements. They don't prohibit paying rent to close relatives, like parents, in-laws or a spouse. The rent must be supported by a formal agreement, and rent payments made via banks.

Indian-origin Microsoft executive Asha Sharma faced backlash after getting appointed as Gaming division's head by replacing Phil Spencer, who quit after 38 years at the company. X users questioned her 15-year experience, noting how she has "no gaming background". One user claimed Microsoft had become "Indian nepotism now", alleging Indian hiring managers favour Indian candidates.

A potter in Uttar Pradesh's Rae Bareli has received a GST notice of ₹1.25 crore. "We're poor people who survive on a few pennies," the person selling ₹2 clay pots was quoted as saying by India Today. He alleged that his PAN card was misused to create a fake firm and show transactions worth crores.

Under Draft Income Tax Rules 2026, banks would have to report details to Income Tax Department if a person makes annual credit card bill payments of ₹10 lakh or more digitally and if payments of ₹1 lakh or more are made via cash. Credit card statements may serve as address proof. Paying income tax via credit card is also proposed.

International trade expert Abhijit Das said India may need to revisit the concessions it has offered in its ongoing trade negotiations with US. His remark comes after US President Donald Trump announced a fresh 10% tariff on imports after US Supreme Court's tariff verdict. "The development calls for a more coordinated response from countries that are similarly affected," Das added.

According to Karan Adani, the Adani Group is working to restart Formula 1 motor sport at Buddh International Circuit in Greater Noida. "I think India has a lot of potential...there's a lot of following in Formula 1 from India," Adani, the MD of Adani Ports & SEZ, said. "It can be a benchmark for a global event," he added.

US President Donald Trump has announced he'll raise the 10% worldwide tariffs to 15%. The development comes a day after the US Supreme Court struck down most of the tariffs imposed by Trump on multiple countries, including India. "I'll be, effective immediately, raising the 10% worldwide tariff on countries...to the fully allowed and legally tested 15% level," he said.

Capitalmind CEO Deepak Shenoy slammed US President Donald Trump after the US Supreme Court struck down most of his tariffs. "Trump's tariffs now illegal, India hasn't yet signed a deal, and we go back to 10%," Shenoy said. "This is still a waste, like with shrimp just move those few exports to other countries...America isn't worthy of trust," he added.

India and Brazil signed a Memorandum of Understanding (MoU) on critical minerals on Saturday. The MoU provides an institutional framework for strengthening bilateral cooperation across the steel value chain and focuses on investment in exploration, mining, and infrastructure development in steel sector. India and Brazil have set a bilateral trade target of $20 billion over the next five years.