What to do with your old PC

1) Thanks to Windows 7, a lot of people have purchased new computers or are planning to. And that leaves them with one of life's more pleasant problems: what to do with the old machine.

With prices for used computers so low, reselling an older PC is often more trouble than its worth, and you can actually get more value out of your old machine by keeping it and using it for another purpose. Here are some ideas to get you started.

2) If your old computer is a desktop with a decent amount of storage or the capability to hold more storage (hard drives) than it currently has, it's a good candidate for duty as a Windows Home Server.

Buy an OEM copy of Windows Home Server on a site like Newegg, install it on your old machine, hook the computer up to your in-home network, and you'll never again have to be embarrassed when someone asks you whether you back up your data. The answer will be 'yes, every night.'

3) How many times have you installed an application - only to regret it later when it causes your computer to become slower or, even worse, to crash?

Put your old computer to use as a 'test' machine, and you can say goodbye to nightmare installations of new software. Install them first on the old machine and see how they work, then you can decide to install them on your main machine or to just forget the whole affair.

4) Windows isn't the only operating system out there. In fact, many would argue that a lot of the action these days is in opensource operating systems. What better way to test all of this out than on an old machine?

The Ubuntu operating system (http://www.ubuntu.com/GetUbuntu/download) is the hands-down favourite among those who want to get their first exposure to Linux- based computing.

Ubuntu is easy to install, as it recognises plenty of hardware automatically, just as Windows does. Once installed, you'll feel pretty much at home if you're familiar with Windows, since Ubuntu follows many of the interface conventions to which Windows users are accustomed.

5) If you're into computer games, you already know that multi-player action is where the fun begins. But without multiple computers in your house, there's no multi-player action. A spare computer clears up that problem.

If you're not a gamer but you've always wondered how much fun it would be to play multiplayer games (lots), then put that old machine to work on your game of choice.

6) When you hear people talk about hard drives, memory, video cards, or motherboards, do you secretly want to run away? Lose the fear by taking your old PC apart and seeing what's in it. A Philips-head screwdriver is pretty much the only tool you'll need.

Find a tutorial online that helps you identify the parts you see inside of your computer, and you'll no longer be at a loss to understand how hard drives, graphics cards, memory, and other components are attached.

Plus, when you need to replace or upgrade one of these parts in the future, you'll have a clue about how to do it yourself.

7) Your old computer might not be up to the task of running Windows 7, but there are people who won't care and will be happy to take it.

Start by surveying members of your family. If your old computer is a notebook, chances are good that someone in your clan will love it, even if Windows XP Home is the only thing it can run with any degree of success.

If your old computer is a desktop, perhaps a member of your family who needs a computer primarily to surf the web or play the occasional game of solitaire will be just thrilled to have it. Check around. It's probably worth more in good feelings of being generous than any resale would be.

Source:http://timesofindia.indiatimes.com

Jumbo jet turns hotel

The Jumbo Jet 747 may not be flying anymore, but it is still not defunct - it has been converted into a 25-room hotel, with the top suite in the cockpit.

The former Singapore Airlines 747-200 at Stockholm's Arlanda Airport charges as little as 52 dollar a night and 500 dollars for the cockpit 'suite' - with a view of the runway.

Dorm rooms, from 52 dollars per night, include bunk beds and overhead luggage compartments.

Creator Oscar Dios said once the Swedish prototype was perfected he would unveil 10 Jumbo Stays around the world, including in Australia.

"Australia is definitely in the plan," News.com.au quoted Dios, 37, as saying.

"I've had meetings and discussions with Australian entrepreneurs who were keen on the idea."

Californian English teacher Lia Mendez, 25, rested overnight in the Jumbo Stay this week on her way from Estonia to the US.

"The great thing is how close it is to the airport so I don't have to worry about my flight in the morning. I've slept in plenty of airports before so I thought 'why not a plane?'," she said.

Source:http://in.news.yahoo.com

Reduce tax on selling shares

Investors looking for high returns and willing to take high risk, use equity/stock markets as an investment avenue. As an investor, do you know what the tax implications of gains/losses from this investment are? Are you aware of the impact corporate actions (rights issue, bonus, split, dividend) have on you from a tax perspective? If not, it is essential you understand the same so that you're able to minimise tax incidence and increase return on investment.

Securities traded on the stock exchange are treated as a capital asset. Hence transacting in securities will lead to a capital gain or a capital loss. Anil purchased 200 shares of Axis bank at Rs. 740 on 10th May 2009, and sold it off at Rs. 820 on 15th March 2010. There was a gain of Rs. 80 per share, which is termed as ‘capital gain'. Capital Gain/loss can be either short-term or long-term depending on the tenure for which the security is held.

Short-term Capital Gain/Loss

If securities are sold on the exchange within a period of one year of purchase, it is short-term in nature. Short-term capital gains are taxed at 15%. Short-term capital loss can be set off against short-term capital gain & long-term capital gains.

Long-term Capital Gain/Loss

Securities held for tenure greater than a year, are termed as long-term. Long-term capital gains are tax free. Long-term capital loss can be set off only against Long-term capital gain.

In Anil's case, since Axis bank is held for a period less than one year, his gain will taxed @ 15%. So his capital gain tax would be 15% of 200*(820-740) which is Rs.2400. So his income would be reduced to Rs. 13,600. However, if Anil had sold off his shares anytime after 10th May 2010, his gain would be Rs. 16,000.

If Long-term and short-term capital losses cannot be set off against the capital gain of that particular year then it can be carried forward for the next 8 consecutive years. Losses under the head "Capital Gains" cannot be set off against income under other heads of income whether salary, Business & profession, House Property, Income from other source.

Impact of corporate actions on taxable income

Dividend on shares: It is not taxable in the hands of the recipient, as the company declaring the dividend has already paid dividend distribution tax.

Bonus shares: These are free shares given to the shareholders depending on current holding of the share holder. If a bonus of 1:3 is announced, it means a shareholder will be given 1 share for every three shares held. For tax purposes, the ex bonus (at which the price is adjusted for corporate action on the stock exchange) date fixed by the company is considered to be the date of acquisition of the shares and the cost of acquisition is zero. So depending on when it is sold, it will be treated as short term or long term.

Rights issue: When additional shares are offered to existing shareholders at a price, it is termed a rights issue. The price at which the rights issue is done is treated as the cost of acquisition which is normally at a discount to the market price. The date of allotment of right shares is treated as the date of purchase at the rights issue price. Accordingly it will attract tax depending on the tenure for which it is held.

Stock splits: This refers to reduction in the denomination of the shares by reducing the face value of the share. That will result in a corresponding change in the market value. The date of buying the original shares is treated as the date of acquisition and the gains are taxed in the same proportion as the split. Suppose Anil has 100 share of XYZ Company at a face value of Rs. 10 purchased on 10th January, 2009 at a price of Rs. 500. On 10th March, 2010, the company reduced the face value of the share to Rs. 5. On 30th March, Anil sold off the shares at Rs. 305.

The impact is as follows:

Change in number of shares held: On account of the split, Anil will have 200 shares of XYZ Company and his purchase prices will now be Rs. 250 per share

Tax liability on gains: Although the split has been done on the 10th of March, 2010, the date of acquisition for Anil will continue to be 10th January, 2009. Since the period of holding is greater than one year, it is categorised as long term capital gain. So his gain of Rs.11, 000 (Rs. 305-250), is tax free.

Tax Tips

1. Make sure you look at the holding period before sale of the security. You may want to wait for a few more days, to move from short term to long term tax treatment, if you're making profit on a transaction, so that you enjoy tax free earnings.

2. As long term capital loss cannot be set off against short term capital gain, you will be able to minimize your tax liability if you sell a security making huge losses for you within a period of one year.

3. In order to reduce your tax liability you may have sold stock before the month of March. You need to take note of the same, so that you could take position of the same stock after 1st April. This way you could save taxes, and also hold shares of the entity you sold, to book losses and hence offset gains. While calculating net gains, make sure you take the transaction cost of buying and selling into consideration.

Source:http://in.finance.yahoo.com

Check out this summer

It is well-accepted in fashion parlance that checks, stripes and dark hues belong to winters.

No doubt, florals and prints look cool in summers but designers echo that checks are going to break the season barrier, and will become the trend this summer. New trend "Checks and stripes are largely a winter trend and big checks are definitely not in this season.

However, small checks and even stripes have been incorporated this season as patterns and big prints (conventionally a summer trend) are seen during winters. The whole idea of fashion is changing. Afterall, it is an interpretation of time and people are open to experiment," says designer Charu Parashar.

Actors Hrithik Roshan, Shahid Kapur, Ranbir Kapoor and Anushka Sharma were spotted sporting checked shirts. "Plaid is a great way to add visual interest to a casual look and will remain a classic wardrobe staple this season.

Checks in updated hues of sunset, mango, French pink and vintage blue are tasteful choices," says Manjula Tiwari, COO, Esprit. Pick your colour "In line with the most contemporary international trends, an exciting range of checks varied in style, colour palette and design for both casual and formal wear is available in stores," says Atul Chand, divisional chief executive, ITC's Lifestyle retailing division.

Buy halts: Branded stores as well as local stores in Hill Road and Colaba markets at Rs 200 onwards.

Source:http://in.specials.yahoo.com