Accident claim regarding
Querist :
Anonymous
(Querist) 07 February 2011
This query is : Resolved
Respected sir,
my father worked as a sub-inspector of police he met an road accident and he passed away on 6.11.2005.
me,mother,sister,grandmother are the legalheir of the deceased.
The amount sanctioned in the court is 14lakhs
it is divided,we three got the amount
but my sister is minor she is 12years old.
my question is
1.when will she get the money?
2.whether there is any procedure to know at which rate of interest the amount is deposited in the bank?
3.whether the interest will got monthly?what is the procedure for getting the interest monthly?
3.she got no other income so whether 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
adv. rajeev ( rajoo )
(Expert) 07 February 2011
In the compensation awarded your minor sister has got equal share along with you all. The compensation amount will be deposited by the court in the bank and interest rate will be as per the banks norms.
To get the monthly interest you will have to ask the banker to pay the monthly interest to your minor sister a/c. To withdraw that amount being a natural guardian your mother will have to file a petition under guardian and wardship act in the Dist., and Sessions court, which will issue certificate. Itz minor's property without court permission no one can withdraw the minor's amount.
Parveen Kr. Aggarwal
(Expert) 07 February 2011
As per directions of the Supreme Court, the share of minors in compensation in motor accident claim cases is deposited in bank account by way of fixed deposit and receivable by them after attaining majority. So your sister will receive the amount after attaining majority. The amount can be deposited in any bank. It is your choice and you may ask the court to order for deposit in the bank of your choice. The amount of interest can be received by your sister periodically.If the amount of interest accrued on the Fixed deposit is taxable, the bank will deduct tax at source.
Sachin Bhatia
(Expert) 07 February 2011
1) Your sister will received her share after attaining majority.
2) You can inquire from the court or from the bank.
3) It will be given according to the requirement of the minor.
4) The share mention in the quire is not taxable.
