Accident claim regarding

Querist : Anonymous (Querist) 07 February 2011 This query is : Resolved
Respected sir
my father worked as s.i of police due to an road accident he expired on 2005.
we got 15lakhs but my sister is minor.
my question is,
1.whether there is any procedure to know at which rate of interest the amount is deposited in the bank?
2.whether the interest will got monthly?what is the procedure for getting the interest monthly?
3.she got no other income so she want pancard for tax deduction?
please give me guidance sir,
iam in village please give me proper direction sir,via my mail
dineshrajaips@gmail.com

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Advocate. Arunagiri (Expert) 07 February 2011
When you go the money? In whose name the deposits are made currently?

She can apply for a PAN Card.

The guardian has to apply for the withdrawal of interest.

Ask the banker regarding the interest rate.

SAANJAAY GUPTAA (Expert) 07 February 2011
you can deposit money in MIS scheme and the current yearly rate for interest is 8% and you can apply for the pan card of your sister by filling the form available from the axis bank or your tax return file department, very simple.

KANDE VENKATESH GUPTA (Expert) 07 February 2011
Your question is not clear. Have you withdrawn the money from the court or from the Government. Where is the money now? If the money is the court deposit or with any tribunal or government authority, you have to file an application to the concerned court/tribunal/government authority seeking permission to withdraw the interest accrued for the purpose of maintenance of your sister. If it is with you, you are the master of the money and you can choose the best alternative ways by approaching any nationalized banks. If you want any further information,call me back on my mobile:
09885808021
venkateshgupta_kande@yahoo.co.in

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