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‘Death grip’ hits iPhone 4 |
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| Aviation Notes Near-miss cases on the rise Even after widening corridors in Delhi and Mumbai, the incidents of near-miss in air have not decreased. Instead, they have been happening at enormous speed. This is a very dangerous trend. A study reveals that lax attitude of the ATCs and casual approach of the commanders, mostly Indians, have been main defaulters for this man-made malady. Investor Guidance
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‘Death grip’ hits iPhone 4 People who already purchased the $29 "Bumper" cases will be refunded. Jobs began the event by saying, "We're not perfect," but was quick to point out that no cell phone is perfect. Phones usually have an antenna inside the body. In designing the iPhone 4, Apple took a gamble on a new design, using parts of the phone's outer casing as the antenna. That saved space inside the tightly packed body of the phone, but means that covering a spot on the lower left edge of the case blocks wireless signal. Consumer Reports magazine said covering the spot with a case or even a piece of duct tape alleviates the problem. It refused to give the iPhone 4 its "recommended" stamp of approval for this reason, and it had called on Apple on Monday to compensate buyers. Yesterday, in the company's first remarks following the magazine's report, Jobs said Apple was "stunned and upset and embarrassed." Jobs said the iPhone 4's antenna issue isn't widespread. He said just over five out of every thousand users have complained to Apple's warranty service, and less than 2 per cent have returned the device. "We're not feeling right now that we have a giant problem we need to fix," Jobs said. "This has been blown so out of proportion that it's incredible. I know it's fun to have a story, but it's less fun when you're on the other end of it." Analysts have criticised Apple's first responses to reports of reception problems as dismissive, and cautioned that the company shouldn't come across as arrogant.
— AP |
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Aviation Notes
Even after widening corridors in Delhi and Mumbai, the incidents of near-miss in air have not decreased. Instead, they have been happening at enormous speed. This is a very dangerous trend. A study reveals that lax attitude of the ATCs and casual approach of the commanders, mostly Indians, have been main defaulters for this man-made malady. If the Directorate-General of Civil Aviation (DGCA), the apex regulatory body, does not take effective measures, a tragedy more painful than that of the Mangalore crash, may take place further destroying the image of the country in the world of civil aviation. On Saturday (July 10), Jet Airways’ flight (9W2119), with 140 passengers and crew from Chennai, and an Air India plane (IC174), also from Chennai, with 70 passengers and crew, were almost on the same level. They were only about 500 feet away from each other when Providence, more than alertness of men in tower and in command of aircraft, averted a crash. According to investigation, both ATCs and commanders were in slumber and the commanders were woken up as Traffic Collision Avoidance System (TCAS) started making a noise. The DGCA has rightly started inquiry into the incident. Mere derostering of defaulting officials will not improve the things unless the apex body uses its teeth and ground erring men for a considerable time. With the onset of monsoon season, the bird menace has intensified at the IGIA. Despite efforts, the Cathay Pacific flight got bird-hit while approaching the airport for landing. More than half-a-dozen other flights had to consume a lot of fuel in going around until receiving clearance for safe landing. The DGCA immediately summoned a meeting. But mere talk will not reduce trouble unless effective measures are taken to prevent horde of insects sitting or crawling on the runway. According to reports, there are several committees to tackle the menace, which is virtually a regular occurrence at Indian airports. The question is that if other countries, with much heavier onslaught of rain, can control bird menace, why can’t Indian authorities do. The DGCA, for once, has done a magnificent job in framing comprehensive do’s and don’ts for the VIPs. All this has been done after undertaking detailed study of the plane crash of YSR Reddy’s helicopter in Andhra Pradesh. If the politicians, placed in different categories, pay heed or adhere to the guidelines stipulated by the DGCA, their operations will not be as hazardous, as they have been. Most of the accidents have occurred because of politicians’ insistence instead of commanders’ failure. |
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Investor Guidance
Q: I have 2 BHK flat in Nashik purchased in 2003 at a price of Rs 9 lakh. Now I have booked another flat in Thane and I will be getting possession in December 2010. Presently, I am planning to take loan of Rs. 22.5 lakh for buying this flat. If I sell my Nasik flat (likely price Rs 20 lakh) - what will be the implication on long-term capital gain tax? If I sell the Nasik flat after 8 to 10 months what will be the implication on long-term capital gain tax. What will be tax amount? — Dilip B. A: Long-term capital gains tax on sale of property can be saved by investing the capital gain amount in a new property either one year before or within two years after sale. Therefore, you will have to sell your Nasik property within one year of getting possession of your Thane property. Since the capital gains earned on the Nasik property would be less than the cost of the Thane property, there would be no tax payable i.e the entire capital gains would be tax-free. Also, it is not a requirement of the law that the funds used for buying new property have to be those released by sale of old property. As long as the specific amount of money gets invested (from any source), the exemption would be available. ITR-2
Q: I have a query regarding usage of Saral-II introduced for Assessment Year 2010-11. I have two small houses. One of them is self-occupied and has no outstanding housing loan. The other one is rented out and has housing loan also. My income from house property is in negative (i.e net-off of rent received and interest paid on housing loan). Kindly guide me if I can use Saral-II or not for filing income tax return for Assessment Year 2010-11. — K.N. Joshi A: As you may be aware, Saral II is to be used by individuals having Income from salary / pension / Income from One House Property (excluding loss brought forward from previous years) / Income from Other Sources (Excluding Winning from Lottery and Income from Race Horses). You have two house properties, one of which is self-occupied and the other one rented out (though with negative income). Hence you will not be eligible to use Saral II. You will have to use ITR 2. Form 15G/15H
Q: I have a question regarding the furnishing of Form 15G and 15H. I am aware that these forms are to be submitted for nil tax deduction. I am also aware that Form 15H is to be submitted by senior citizens and 15G by others. But my question is what is the age for being eligible to be a senior citizen? Is it 60 or 65? Any change between women and men? — T.V. Ramakrishnan A: Sec. 80DDB states that an individual who is 65 years of age or more at any time during the previous year is a senior citizen. Senior citizen (age 65 or over during that FY) may file form 15H and others may file form 15G. The age specification is common for all, women as well as men. NRI can’t be second holder in Resident’s a/c
Q: My son is an NRI settled in the U.K. I have some fixed deposits in a bank and I have my son a nominee in these Deposits. A friend of mine has suggested that in future deposits, I should make my son a joint holder so that he will be able to get the money without any delay after my demise. However, in your column you have mentioned that an NRI cannot have ordinary Savings/Fixed Deposits Accounts. I seek your advice as to the best course to adopt so that my son will not have any problem in getting this money after my demise. — S. P. Gupta A: An NRI cannot be the second holder in a Resident savings or fixed deposit. In other words, your son cannot be the second holder for a deposit where you are the first holder. However, a Resident Indian can be a second holder for an NRI’s NRO fixed deposit. So one of your options would be to gift the funds to your son and which can then be invested in an NRO fixed deposit where your son is the first holder and you the second. The other way of course would be to bequeath the funds to your son through the instrument of a will. The former method is straightforward but entails losing title to your funds. The latter is a bit more cumbersome where legalities of getting the will made etc. are involved, however, it lets you keep title to your money.
The authors may be contacted at wonderlandconsultants@yahoo.com |
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Cupertino (US), July 17