India’s New Tax Law SOP | Trump Spares China, Hits India | India’s MiG-21 Era Ends | Trump’s 600k Student Remark Backfires
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Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.
MiG-21 Retires
After nearly 60 years in service, India’s iconic MiG-21 is flying into history. Air Chief Marshal Amar Preet Singh marked the farewell with a formation flight alongside No. 23 Squadron, led by Sqn Ldr Priya. Official retirement comes on September 26, closing a legendary chapter in IAF history.
Trump Targets India
From the Oval Office, Donald Trump praised China while warning India. He spared Beijing but pressed ahead with a 50% tariff on Indian imports, citing New Delhi’s sharp rise in Russian oil purchases—from under 1% before the Ukraine war to 42% after. Half the tariff is already in place; the rest lands this week.
MAGA vs Trump
Trump also stirred his base by saying the US would welcome 600,000 Chinese students. Supporters erupted online, calling it a betrayal of “America First.” With 277,000 Chinese students already in US universities and new visa restrictions announced earlier this year, his comment struck many as contradictory.
Mail to US Halted
Taiwan joined India and Europe in suspending postal services to America after Washington scrapped its duty-free exemption for imports under $800. Now, every international parcel faces customs duties, leaving families, small businesses, and e-commerce players scrambling as the US mailbox effectively shuts to the world.
New Tax Rules
India readies its Income Tax Act, 2025. To ease transition, CBDT will issue an SOP on digital seizures, clarifying how officials can access electronic data. Ramesh Narain Parbat stressed no new powers were added, only clearer wording. The aim: consistency, transparency, and predictability for taxpayers.
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