EARNING FUNNING LEARNING

Submitting proof of investments is an extremely traumatising affair for all salaried individuals. First, you have to deal with the painful task of collecting and organising hordes of receipts. To top it off are the anxiety levels of not knowing if you’ve invested enough and worrying about how much money you’ll lose to tax in the following couple of months.Naturally, we all have tax consultants, who will tell us what we need to do to ensure the least possible impact of tax, but it’s even more helpful if we, ourselves are very clear on exactly how much of our salary can we claim as exempted from tax. This way, we know exactly how much we must invest to minimise tax liability. Make no mistake, investing in order to save tax is absolutely necessary, but knowing deductibles on your salary ensures you don’t overdo your tax saving investments. Basic salary: high or low? If you earn a salary of Rs 1,00,000 per month, you are definitely aware that the basic amount in your salary is taxable. A ...

NEW DELHI: Apple's iPhone, the touch screen handset that acquired a cult status in the US and other western countries, will be available to Indian mobile users through Bharti Airtel at the stroke of midnight on August 21, giving competitors like Nokia, Samsung and others a run for their money. Millions of Airtel subscribers will be able to purchase the iPhone at Airtel's Relationship Centres from August 22, a company statement said here. "iPhone has been an iconic technological revelation of this year and Airtel has been at the forefront of innovation and customer delight in the Indian telecom sector," Sanjay Kapoor, President, Bharti Airtel mobile services, said. iPhone is embedded with all 3G features and is twice as fast as the existing mobile phones. The phone also has in-built GPS system, that facilitates as a navigation and positioning tool. US-based Apple has tied up with Airtel and Vodafone to bring iPhone in the country. Asked at what price it will be availab...

Mutual Fund Investing:Look at More Than a Fund's Past Performance You can't open a newspaper or read a magazine without seeing ads promoting the stellar performance of "hot" mutual funds. But past performance is not as important as you may think, especially the short-term performance of relatively new or small funds. As with any investment, a fund's past performance is no guarantee of its future success. Over the long-term, the success (or failure) of your investment in a fund also will depend on factors such as: the fund's sales charges, fees, and expenses; the taxes you may have to pay when you receive a distribution; the age and size of the fund; the fund's risks and volatility; and recent changes in the fund's operations. So, look at more than the fund's past performance when making your investment decisions. Read the fund's prospectus and shareholder reports, and consider these tips: Scrutinize the fund's fees and expenses. Funds charg...