Innovation on Wireless speaker

So what’s the most difficult part about the existing home theater systems? They are all wired up, difficult to install and control, unweildy (restricted area of *perfect* audio experience).

Bangalore based startup, Snap Networks has launched a wireless home theater audio system (dubbed Violet) that has a spatial microphone senses and optimizes sound in 3-D space.

About Violet (Wireless Speaker)
1. It is a 5.1 system, which makes NO USE of an AVR. Direct connection with a DVD.

2. The speakers are WIRELESS. No wire connections for receiving the signals. The speakers look like light bulb assembly. Can easily fit into any light bulb power supply direct ... for the input 220V supply.

3. The speakers can be put ANYWHERE inside the room. No need to make sure of any accurate positioning.

4. Each speaker is provided with a 2" driver, has a 40 W D class amp (something that was'nt revealed on asking. Me thinks it is a 2040 / 2050 chip per speaker which is being fed by a step down SMPS ... quite similar in operation to the Topping TP20 2020 chip).

5. Very good sound output, both for movies as well as music. The supplied wireless sub-woofer does a 'good' job for the low down outputs.

6. The wireless 'thing' requires an initial calibration for a one time setting per room for a fixed speaker positioning. This exercise takes upto 3 minutes. Once done, then that set up is ready for action.

7. The 5 satellite speakers have a range from 160 hz to 22 khz, while the current sub-woofer goes down to 45 hz.

8. The cost indicated is @ 65 k all inclusive.

Sale of under construction houses to attract service tax from July 1

Those looking to book a house should do so before July 1. All sales of under-construction houses from July 1 will attract service tax with the finance ministry notifying tax on new services.

However, service tax on rail freight has been further put off till January, 2011. The government has also exempted electricity distribution from service tax.

The Central Board of Excise and Customs, the apex indirect taxes body, has issued several notifications related to separate areas to enforce the provisions of the Finance Act 2010.

Sale of immovable property will be deemed to be taxable unless entire consideration is paid after the issuance of completion certificate by a competent authority. However, service tax will be levied only on 25% of the gross sale value of property . Low-cost housing under the Jawaharlal Nehru National Urban Renewal Mission and the Rajiv Awas Yojana have been exempted from service tax that will begin to be levied from July 1.

Service tax on air travel has been capped at Rs 100 for domestic travel and Rs 500 for international travel. The government has exempted foreign travellers from service tax if they are in transit to a different country without passing the immigration and Customs area. Further, those flying to and from the Northeastern states —Arunachal Pradesh, Assam , Manipur, Meghalaya, Mizoram , Nagaland, Sikkim, Tripura and Baghdogra (in West Bengal)—have also been exempted from service tax.

Sports events such as Indian Premier League will attract service tax but tax exemption has been allowed to tournaments and championships organised by certain bodies such as national sports federations or federations affiliated to them. These include School Games Federation of India, Association of Indian Universities and Olympic Committee of India, among others. The government has also exempted certain services that are provided within ports and airports from tax. These include supply of water, supply of electricity, medical treatment, formal education, fire service agencies and pollution control services.

Courtesy: The Economics Times

Savings bank accounts may fetch higher interest if rates are deregulated

Your Savings Bank (SB) accounts may give you more interest if the Reserve Bank of India's plan to deregulate interest rates on such accounts materialises.

Banks are now offering 3.5 per cent interest on SB accounts. Once deregulated, the interest rates would turn more dynamic and might benefit some SB account holders, if not all, according to banking experts. “I feel that high net worth customers might gain by deregulation. The quantum of benefit, however, will depend on many factors, including the size of the balance sheet,” Mr S.C. Kalia, Executive Director, Union Bank of India, told Business Line on the sidelines of IDRBT (Institute for Development and Research in Banking Technology) technology function awards here on Thursday.

Mr P. Jayarama Bhat, Managing Director, Karnataka Bank, felt that the SB interest rates could go up. “As we cannot offer fixed deposit rates on SB, it has to be somewhere in between. I think, it might move up by about hundred basis points to 4.5 per cent or so.” “Deregulated SB rates will obviously be linked to the liquidity situation. So, there is a possibility of banks tweaking them in tune with changing circumstances,” Mr Asit Pal, Executive Director, Corporation Bank, said.

“This would require lot of customer education, especially in rural areas,” he added.

Level playing field

According to Dr K. Ramakrishnan, Chief Executive, Indian Banks' Association, the deregulation of SB accounts would create a level-playing field for banks. “Any deregulation is welcome. The SB portfolios of banks may not be impacted much as one may not move their SB accounts from one bank to another just because of some difference in interest.” As banks would prefer to go for low-cost funds, the rates on SB accounts could as well go down some times if there is surplus liquidity in the system, Mr R.S. Reddy, Chairman and Managing Director of Andhra Bank, said.

When asked on the likely implications, the RBI Governor, Dr D. Subbarao, said deregulation of SB rates was on the agenda of banks. “I want you to generate a debate on the implications to be taken by us as a feedback.

Tax slab revision after discussions: FM

Finance Minister Pranab Mukherjee on Friday said the government will take a view on new tax slabs after receiving inputs from different stakeholders on the revised draft of the Direct Taxes Code (DTC).

“The government will take a final view (on tax slabs) after receiving all the inputs,” he said when asked whether the government was likely to retain the tax slabs suggested in the original DTC draft.

The first DTC draft, released in August, had proposed 10 per cent tax on the income of Rs 1.6 lakh-Rs 10 lakh, 20 per cent on Rs 10 lakh-Rs 25 lakh and 30 per cent beyond Rs 25 lakh in a year. At present, 10 per cent is levied on income between Rs 1.6 lakh-5 lakh, 20 per cent on Rs 5 lakh-8 lakh and 30 per cent over Rs 8 lakh.

The revised draft, on which the Finance Ministry has invited comments from the public till June 30, is silent on tax slabs. However, it did mention that tax slab and rates proposed in the first draft would be revised.

“The proposal in this Revised Discussion Paper would lead to a reduction in the tax base proposed in the DTC. The indicative tax slabs and tax rates and monetary limits for exemptions and deductions proposed in the DTC will, therefore, be calibrated accordingly while finalising the legislation,” the revised draft had said.

Mukherjee declined to give any clear indication about the new tax slabs saying “these are only discussion papers. How will I comment?”

The minister said the tax structure would be revealed in the legislation to be introduced in Parliament.