Tuesday, March 20, 2012

Apple sells 3 mn iPads within 3 days of launch

Ina new record for Apple, tech giant has sold a staggering three million new iPads within just three days to launch the latest version of the blockbuster tablet computer.

California-based company launched the third version of the iPad on Friday, new features, such as an improved screen, better camera, faster processor and support for AT & T and Verizon's fourth-generation LTE wireless networks.

Apple announced yesterday that it has sold three million new iPads on the same day, the company said that it puts it in close to 100 billion dollars in cash will be used to pay a quarterly dividend of $ 2.65 and $ 10 billion through a stock repurchase program.

During a conference call for investors to discuss Apple's plans to cash in stocks, Apple CEO Tim Cook said the company was a "record weekend," the latest iPad, but did not give specific sales figures.

Apple's vice president of Worldwide Marketing Philip Schiller, the figures reveal the report later.

"The new iPad is a blockbuster three million sold in the strongest iPad launch yet," Schiller says.

The new iPad is already available in Australia, Canada, France, Germany, Hong Kong, Japan, Puerto Rico, Singapore, Switzerland, United Kingdom and the United States.

"The customers are loving the amazing new features, and the iPad, including the gorgeous Retina display, and we can not wait to get it into the hands of even more customers around the world," when it comes available in 24 more countries in March 23 and through Apple's online stores.

The new iPad, available in black and white, is priced between USD 499 and USD 829 dollars, depending on the different models and configurations.

Apple has reduced the iPad 2 is now available for between U.S. $ 399 USD $ 529. Cook said Apple has sold 55 million iPads since the trend setting in the Tablet PC was launched in 2010.

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Friday, March 16, 2012

Budget 2012: Income tax exemption limit raised to Rs 2 lakh

NEW DELHI: Giving some relief to taxpayers, Finance Minister Pranab Mukherjee today proposed to raise the income tax exemption limit of individuals with RS 2 lakh per annum side of the 1.80 lakh.

PlayStation's budget proposals for 2012-13 in October Sabha, he rose to the limit RS 10 lakh to less than 20 per cent tax slab. The present limit is Rs 8 lakh.

"My proposals on direct taxes, estimated to result in revenue loss of Rs 4500 crore for the year," Mukherjee said.

Budget also exempt up to Rs 10 000 interest income from tax.

The individual has to pay 10 percent income tax between the RS and the RS 2 lakh 5 lakh, 20 per cent between the RS and RS 5 lakh 10 lakh and 30 per cent of the RS 10 lakh.

Mukherjee said to increase the exemption limit has been towards the implementation of Direct Taxes Code (DTC).

The Committee, which Parliament has studied the DTC Bill had proposed that the exemption limit of Rs 3 lakh.

The exemption limit for senior citizens 60 and 80 years are Rs 2.50 lakh, 10 per cent must be charged to income between Rs 2.5 to 5 lakh, 20 per cent from Rs 5-10 lakh and 30 per cent over Rs 10 lakh.

Very senior citizens (80 years and over), income tax exemption limit is RS 5 lakh, 20 per cent must be charged to income between R 5-10 lakh and 30 per cent of the RS 10 lakh.

The implementation of the DTC, Mukherjee said, "We got a report of the Parliamentary Standing March 9, 2012. We investigate the report and take action quickly, adjusting the DTC at the earliest."

DTC Bill is intended to replace half a century old Income Tax Act, 1961.

Savings Account deductions, Mukherjee said, to help small taxpayers.

"This would help a lot of small taxpayers with wage income up to RS 5 lakh and interest from savings bank accounts of up to R 10 000, because they do not need to do tax returns," Mukherjee said.

How do you react to the tax slab?

The budget is not good for individual taxpayers. The real advantage of the latest tax provisions are limited. A person earns up to R 8 lakhs will receive a tax savings of only Rs 2060, and those earning above Rs lakhs but less than Rs lakhs will receive savings of 10.3%.

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Monday, March 12, 2012

Cash rate up as robust demand offsets CRR cut Close

Indian overnight cash rates rose on Monday despite a cut in cash reserve ratio of banks reserve requirement covers the beginning of a new round of reporting on the early payment of taxes in advance by the company.

The one-day call rate closed at 8.85/8.90, compared to Friday close of 8.50/8.55 percent for the three-day loans.

On Friday, the Reserve Bank of India is not expected announced a cut in CRR, the share of deposits that banks must defer it a week before it is reviewed monetary policy. Cut will be a sharper-than-expected 75 basis points aimed at infusing liquidity in a cash-starved banking system.

The move is estimated to 480 billion rupees drawn ($ 9.6 billion) of liquidity in the banking system.

A Reuters poll showed the RBI as are expected to hold off on cutting rates at its monetary policy review on Thursday, a day before the federal government will detail its budget for the fiscal year that begins in the month of April. The overnight cash rate could climb above the 9 percent tax on outflows ahead, traders said.

Banks' increasing demand for funds is evident from the repo borrowings against the RBI, which stood at 1.31 trillion rupees, much above indicated that the central bank comfort level of 600 billion rupees of the total lack of liquidity .

Normally, banks prefer to meet their reserve requirements in the first two weeks of the reporting cycle to avoid the volatility in rates in the second week.

Volume in call money market was 169.97 billion rupees, while the weighted average rate was 8.81 percent. Volume in the collateralised borrowing and lending obligations that (CBLO) market was 548.17 billion rupees, with a weighted average rate of 8.46 percent.

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