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Memb Rane's Questions & Answers

in Law, Personal Finance & Tax& Consumer Rights

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Total Points: 5037

Answers Given: 886

Questions Asked: 10

Best Answers: 20

Passport verification not done .. applied on 30/12/2008.. where should i complain?

Asked by Sujatha Ch in Consumer Rights at 2:49 PM on August 31, 2009

Memb Rane's Answer

At the time of submitting your application for passport, youi might have got the acknowledgement slip. It contains a number which shall be used for future reference in case you did not get the passport in time. So, you may go to the Passport with the acknowledgement card and also with a copy of your application already submitted.

You may also look about the present position of your application online at the website of Income Department, if you know how to browse the internet.

Answered at 8:50 PM on September 01, 2009

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I want to transfer the flat and remaining home loan to my brother. can i do it thru gift deed. Bank says I need to sell and he should buy. more Stamp and tax.?

Asked by vijaya anand in Law at 7:53 PM on August 31, 2009

Memb Rane's Answer

You may ask permission from the Bank. If bank grants permission, then there is no problem.

If the Bank did not grant you permission, you may go ahead for transferring the flat to your brother name without the permission of bank. However, you are personally ;iable for clearing the debt due. Otherwise, the bank has the right to proceed against you and your brother before the Court for recovery of money. If both of you are not in a position to repay the debt due, then the bank can proceed against the flat through Court for sale by public auction and get the sale amount to adjust the loan amount.

Answered at 8:46 PM on September 01, 2009

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I need help to make compliant against a Company regarding not issue TDS Cerficate or form 16 its a ahmedabad company n it also in illegal hr partices thanx?

Asked by amu1982 in Law at 7:44 AM on September 01, 2009

Memb Rane's Answer

If you are an employee of that company and in case the company did not give your the TDS certificate or Form 16, you may approach the Income Tax Department in time alongwith your salary slips (which shows the tax deducted at your salary). They will advice you to file the tax returns without the TDS certificate. You should file the returns within the prescribed date. You should not evade from filing the returns merely for the reasons that the company did not supply you the TDS certificate or Form 16.

Answered at 8:39 PM on September 01, 2009

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I want to take a 12 month sip in elss to avoid tax do i need to pay sip for 4 continuous years or can i stop it after 12 monts because the name is a 12mon sip?

Asked by porus nag in Personal Finance & Tax at 3:21 PM on August 29, 2009

Memb Rane's Answer

If you take a month SIP in ELSS, the units that you had purchased should not be encashed within three years from the date of purchase of each units. Otherwise, you need to pay tax. If you take a 12 month SIP for ELSS, it will not help you to avoid tax. Even if the name of the scheme is 12 month SIP, you should pay tax, if the units are encashed within 3 years of purchase.

Answered at 6:54 PM on August 31, 2009

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True or false? Smoking should be banned.?

Asked by Santrupt in Law at 11:35 AM on August 29, 2009

Memb Rane's Answer

It is true that smoking is banned at public places like hospitals, cinema theatres, bus stand, railway stand, schools, etc. The ban order imposted one year back by the Central Government, MInistry of Health and Family Welfare. However, the order did not specify about the road, parks and tea shops. So,people are smoking at these places.

Answered at 6:45 PM on August 31, 2009

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Can banks deduct tds on 6th pay commission arrears which are paid in 2009-2010?

Asked by varshoot ram in Personal Finance & Tax at 6:01 PM on August 31, 2009

Memb Rane's Answer

If you are pensioner and your total pension for a year including the arrears would go beyond the ceiling limit, then the bank can deduct the tax from the pay commission arrear payable through bank.

Those who are in service, the pay disbursing authority can deduct tax if the total salary including arrears would go beyond the ceiling limit. In this case, the bank would not do anything. It is only the pay disbursing officer who would take steps to deduct the tax from your arrears and pay the balance at your account.

Answered at 6:51 PM on August 31, 2009

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What is d process for writing a WILL for my properties in front of COURT? On which stamp paper kindly advice on d and is it neccessary to registerd it ? thanx.

Asked by amu1982 in Law at 4:10 PM on August 29, 2009

Memb Rane's Answer

WILL can not be written before the Court. Court can only probate a will. It means a WILL can be made enforceable by an order of Court.

wILL can be written at any place and it may be written in plain paper also. But, it should require two witnesses. The WILL can be handedover to a faithful person and ask him to take action after his death. The WILL may also be registered and be handedover in sealed cover to Registrar Office of your District. The fact should be intimated to the beneficiaries so that he / she may take action to receive and enforce it after the death of the person who wrote the WILL. In all the cases, a WILL can be enforceable through Court. But, a WILL can not be written before the Court. You may meet the Office of the Registrar, Department of Registration of your District.

Answered at 6:43 PM on August 31, 2009

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I would like to know that, what is the maximum rate of interest on personal loan that a financial institution can charges as per RBI norm for less than 50000.00

Asked by accesssurendra in Law at 7:19 PM on August 30, 2009

Memb Rane's Answer

Financial institutions are not coming under the purview of RBI for the purpose of fixing interest rate for the loans provided by them. The RBI shall have control pver only the nationalised banks, private banks, and interenational banks functioning in our country.They may usually ask interest rate between24 to 36per cent per annum. It may differ from one institution to another institution.

Answered at 6:35 PM on August 31, 2009

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I want to transfer my 3 year old bike from kolkata to mumbai.I got the NOC done in kolkata.What are the formalities that i have to do in mumbai regarding taxes?

Asked by Harpeet in Law at 10:50 PM on August 30, 2009

Memb Rane's Answer

You may go to the Regional Transport Office at the new destination and handover him your Registration Certificate (RC) of your vehicle and NOC received from your previous place. You may get him the prescribed form and fill up all the columns and make necessary payment for re-registration of your vehicle.

They will provide you a new registration number. You should pay the road tax for life at your new destination. Your vehicle should be inspected by the Authority concerned to know about fitness of your vehicle before making re-registration. They may also ask you an undertaking as to whether any police case in respect of the vehilce in your previous place. You should furnish the address proof for your new residence.

Answered at 6:32 PM on August 31, 2009

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Can I file a case in court, in mother’s property, for my partition? My mother is alive?

Asked by bunu nayak in Law at 12:24 AM on August 20, 2009

Memb Rane's Answer

You can not file a case in Court, in your mother's own property, for partition WHEN YOUR MOTHER IS ALIVE.

You can file a case in Court in mother'/s property for partition when your mother is alive PROVIDED THAT THE PROPERTY OWNED BY YOUR MOTHER IS ANCESTRAL PROPERTY.

You can file a case in court for partition in your mother's own property after her death IF SHE HAD NOT MADE ANY WILL IN RESPECT OF HER PROPEPRTY. (THAT MEANS SHE DIE INTESTATE).

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Answered at 6:40 PM on August 27, 2009

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