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Memb Rane's Questions & Answers

in Law, Personal Finance & Tax& Consumer Rights

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Total Points: 5010

Answers Given: 877

Questions Asked: 10

Best Answers: 20

My mobile handset under warranty, i give it for repairing and it took two months but still not completed,i wanna lodge complaint against the shop, how?advice ?

Asked by keini ho in Consumer Rights at 12:41 AM on September 09, 2009

Memb Rane's Answer

You may serve a legal notice to the company from which you have purchased the mobile handset. If the company did not turn up, you may file a complaint before the Consumer Court of your district. Please note you should enclose the receipt for the purchase of mobile handset, guarantee card duly signed by the company, copy of the legal notice and acknowledgement of such notice by the company. Please further note that you had not given the mobile handset to others for repairing before you hanaded over it to the company from which you had brought it.

Answered at 7:03 PM on September 14, 2009

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I am having sip of hdfc equity fund growth since one year, should i continue? for how long? please suggest?

Asked by Dilip in Personal Finance & Tax at 3:37 PM on September 09, 2009

Memb Rane's Answer

You may continue it upto 5 years. In any case, you should not discontinue when the market is low. Because, you can get less amount when the market is low. You may watch the market regularly. If it gives more returns and the market is high, you may discontinue it, that too, after three years from the date of SIP, and the amount shall be deposited in debt / liquid fund for safety of the amount. Because, the market may be low at any time.

Answered at 6:59 PM on September 14, 2009

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Have 20 cents of land with a small open plot in kerala , i want 2 sell 8 cents of open plot do i need 2 pay any taxes or any amount. plz advice?

Asked by mehul in Personal Finance & Tax at 3:45 AM on September 14, 2009

Memb Rane's Answer

You need to pay tax for long term capital gain or short termcapital gain depending upon the years you have kept those plot with you. If you spend the amount within a year (extendable to three years) to buy a poot and to construct a house in it, you may escape from paying the tax.

However, if you sell the agriculural land, you need not pay the tax. For that purpose, you should prove that it is an agricultural land and you were cultivating the land and that land is situated 8 kilometers away from town.

Answered at 6:41 PM on September 14, 2009

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Hi, I want to do an investment for tax saving for around 30k,if i go for ELSS Mutual funds then shuld i go for SIP option or in lumsum and which one shuld i go

Asked by abhinav bhat in Personal Finance & Tax at 12:17 PM on September 14, 2009

Memb Rane's Answer

Whatever the amount you spend for the purchase of units from 1.4.2009 to 31.3.2010 shall be taken into account for the purpose of tax calculation. It may either be SIP or lump sum investment. It is better to opt lump sum investment at present. Because, already 5 months finished for the Financial Year 2009-2010.

Please note that tax exemption amount from all kinds of investment shall be limited to Rs.1 lakhs. So, if you have already invested in Provident Fund, National Saving Certificate, Fixed Deposit at nationalised bank comprising upto Rs.1 lakhs, you can not ask for tax exemption under ELSS mutual funds.

Answered at 6:37 PM on September 14, 2009

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I want to know the stamp duty charges and registration charges for both resale & under construction flat in howrah,kolkata?

Asked by Bipin Jalan in Personal Finance & Tax at 1:30 PM on September 11, 2009

Memb Rane's Answer

Stamp duty may differ from State to State. In any case, it may be between 5 to 10 per cent of the total cost of the flat. If the flat is purchased in the name of female, there is some concession in respect of stamp duty in some States. The registration charges may be upto 1 per cent apart from stamp duty. It is better to go in person to the Registration Department of that District to know about the correct stamp duty and registration fee.

If the flat is under construction or resale, it is not a matter for the Registration department. The stamp duty and registration charges are purely depended upon the value of the flats to which it is registered or market value whichever is higher.

Answered at 6:46 PM on September 14, 2009

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People take life insurance to save tax or to save thier family from unforeseen circumstanses?

Asked by priyankaalwaysthere in Personal Finance & Tax at 2:51 PM on September 10, 2009

Memb Rane's Answer

People take Life Insurance for the purpose of saving their family. If the Head of a family dies unexpectedly, the family will face difficulties for their livilihood. In case, he has taken policy in his name, the family will be protected to the extend to which he has taken policy. For the purpose of encouragement this habbit among public, the Government permits tax exemption for the premium amount which they are paying every year.

Answered at 6:52 PM on September 14, 2009

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In the state govt. schools, Principal takes extra duties in nights (other than the teaching). Is there any G.O. in which extra duties are specified ?Mannu?

Asked by sant kumar G in Law at 11:07 AM on September 10, 2009

Memb Rane's Answer

Principal may ask the teachers to take extra classes for the students. But, the classes should be within the school timings.

However, your principal may ask you to take extra classes upto one hour extra after school timings in case your teaching is poor or the students find it difficult to understand your teaching. The Principal has such power in the general powers vested to him by the Directorate of Education.

Answered at 6:24 PM on September 14, 2009

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Whom should i complain regarding opening of shops on sundays?

Asked by satya chouda in Law at 4:30 PM on September 13, 2009

Memb Rane's Answer

Usually, the merchants themselves form as an association and make regulations for their business times. They themselves make arrangements so that one shop of each kind can be permitted to open on sundays in order to serve the public and also to carry out their business. Each shop shall be permitted to open on sundays on turn basis.

If any merchant did not obey the order of association, the association can remove them from their membership in the association. A shop can not run business without the support of association. Because, the association can help its members, in case the member-shop can face any problems.

Government shall not supervise it. The local government / municipality / corporation may sit as a middleman to solve the working days dispute among the merchants.

Answered at 6:15 PM on September 14, 2009

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What is the procedure to get the flat ownership changed/transferred in the name of legal heir in the society?

Asked by yogita thakk in Law at 11:29 AM on September 09, 2009

Memb Rane's Answer

You may file a succession suit before the District Court to get the succession certificate (decree/ judgement) of the deceased. On the basis of such succession certificate, you may change the ownership name in the records (deed) at Department of Registration as well as patta name in the Department of Revenue. You can get a copy of that Court decree, deed and patta and with that you may approach the Society to change the name. If there are more than one legal heirs, you can get power of attorney from others so that society can entertain only one person in respect of one flat.

Alternatively, you may file a suit for declaration of legal heirs before the city civil court. On the basis of judgement, you may do as above.

Answered at 6:30 PM on September 14, 2009

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Hi,please help me out,i love a muslim girl,I am a hindu boy.want to marry her.she also.where?

Asked by raja in Law at 1:10 PM on September 10, 2009

Memb Rane's Answer

You may marry according to Special Marriage Act. Nobody can restrain you. The Government shall recognize your marriage. Please note that both the religions did not accept inter-religious marriage. Your relatives may disconnect their contact with you. If you accept it, you may go ahead.

Answered at 6:21 PM on September 14, 2009

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