National Income Tax Day marks a significant milestone in India’s fiscal history. The day is marked on July 24. Income tax is a crucial government levy on the income earned by individuals and businesses during a financial year. The concept of “income” is broadly defined under Section 2(24) of the Income Tax Act, encompassing various sources of earnings.

Oscar Piastri won his first Formula One race after completing a McLaren one-two with Lando Norris at the Hungarian Grand Prix 2024. Lewis Hamilton finished third behind the papaya-colored pair for his record-extending 200th career podium. Points leader Max Verstappen finished fifth behind Charles Leclerc in a Ferrari and has now gone three races without a victory. Verstappen leads the standings with 265 points to Norris’ 189.

The International Olympic Committee (IOC) on July 12, announced that it has partnered with the National Olympic Committee (NOC) of Saudi Arabia to host the inaugural Olympic Esports Games 2025 in the Kingdom of Saudi Arabia. This groundbreaking step follows the IOC’s recent announcement that the IOC Executive Board (EB) has established Olympic Esports Games. The proposal will be made to the IOC Session, which will be held on the eve of the Olympic Games Paris 2024.

Harmanpreet Kaur has now become the top run-scorer in women’s T20I cricket for India, overtaking Smriti Mandhana. This milestone was achieved during India’s Women’s Asia Cup T20 match against the UAE in Dambulla on  July 21. The UAE won the toss and chose to bowl first, Smrit Mandhana getting out on 13 runs.

Six-time Grand Slam winner and former World No. 1 in women’s doubles Sania Mirza, six-time World Champion and Olympic bronze medallist MC Mary Kom and actor Rannvijay Singha have joined ‘Play Sports’ as brand ambassadors. Play Sport’s objective is to create a sustainable sports eco system in India by working with schools, developing sports, managing sports infrastructure, running academies and scouting talent from grassroots.

Airbus and Tata are joining forces to manufacture India’s first FAL (Final Assembly Line) H125 helicopter, which is set to roll out by 2026. This partnership aligns with India’s Atmanirbhar Bharat initiative and reflects Airbus’s commitment to investing in the Indian aerospace market despite regulatory challenges. The initial production capacity will be 10 helicopters per year, with the potential to scale up to 50 helicopters annually in subsequent years.

Mumbai, India’s bustling financial capital, is set to witness a significant transformation in its urban transit system with the inauguration of its first underground metro, the Aqua Line. Scheduled to begin operations on July 24, 2024, this long-awaited infrastructure project promises to revolutionize travel across Mumbai’s congested streets, offering a faster, more efficient alternative to surface transportation.

Municipal Corporations of Gurugram and Faridabad are all set to establish two waste-to-charcoal plants, also known as green coal plants, in the two districts at a cost of Rs. 500 crore each. They added that these plants would convert 1,500 tonne of waste daily into charcoal using indigenous technology.

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