Whether the National Savings Certificates can be purchased by the Karta of the Hindu Undivided Family by adding the words “HUF” after his name?

No, Joint type certificate can be issued only to two adults under the rules. As such the Karta of Hindu Undivided Family can purchase certificates in his own name by adding the name of one of his  co-partners without adding “HUF” after his name.

Whether, Monthly Income Scheme (MIS) account can be opened by Non Resident Indians or Karta of the Hindu Undivided Family?

The Monthly Income Scheme account can not be opened by the Non Resident Indians and Karta of Hindu Undivided Family as there is no provision for opening of such accounts in M.I.S. Rules.

Whether, Annual interest of Post Office Time Deposit Account automatically credited in the savings account?

Yes, In case of 2/3/5 year Time Deposit Accounts, the depositor on request to the post office can get annual interest due on his time deposit account credited in his Post Office Savings Account in the same post office.

Whether, a duplicate Kisan Vikas Patra can be issued?

Yes, If a certificate is lost, stolen, destroyed, mutilated or defaced, the person entitled thereto may apply for the issue of a duplicate certificate to the post office of issue. For more detail on Kisan vikas Patra click here

Whether, The teacher’s provident fund are eligible to invest in Kisan Vikas Patra?

No, The teacher’s provident funds are not eligible to be invested in Kisan Vikas Patra.

Whether Kisan Vikas Patra can be purchased by Karta on behalf of Hindu Undivided Family?

No, The Kisan Vikas Patra can not be purchased by the Karta on behalf of the Hindu Undivided Family as there is no provision in the rules.

Whether Kisan Vikas Patra can be purchased by a Non Resident Indians?

No, The Non Resident Indians are not eligible to purchase Kisan Vikas Patra as there is no such provision in the rules.

Whether, Post maturity interest is payable on Post Office Time Deposit Account?

Yes. where repayment of a deposit has become due but has not been made, interest shall be allowed on the amount due for a  maximum period of two years from the date of maturity to the date of repayment of the deposit subject to the following conditions :-
(i).  The interest shall be simple and shall be calculated at the rate   applicable from time to time, to savings accounts of the type of single or joint account.
(ii).  For the purpose of payment of interest any part of the period which is less than one month shall be ignored.

(iii). The interest shall be paid to the depositor in a lump sum at the time of repayment of amount due.

For more story on MIS click here

Group Mediclaim Policy

Group Mediclaim Policy
Brief Description :
Mediclaim Insurance is a cover which takes care of medical expenses following Hospitalisation/Domiciliary Hospitalisation of the Insured in respect of the following situations: (A) In case of a sudden illness (B) In case of an accident (C) In case of any surgery which is required in respect of any disease which has arisen during the policy period. The major benefit for taking a Group Mediclaim policy is that the insured gets a Group discount, hence the premium per person is lower.
Covered Risks :
This cover is a hospitalisation cover and reimburse the medical expenses incurred in respect of covered disease /surgery while the insured was admitted in the hospital as an in patient.The cover also extends to pre- hospitalsation and post- hospitalisation for periods of 30 days and 60 days respectively
Major Exclusions :
Any pre-existing disease,any expense incurred during first 30 days of cover except injury due to accident,all expenses incurred in respect of any treatment relating to pregnancy and child birth. Treatment for Cataracts,Benign prostatic hypertrophy,Hysterectomy, Menorrhagia or Fibromyoma, Hernia,Fitula of anus,Piles, Sinusitis, Asthma,Bronchitis, All Psychiatric or Psychosomatic disorders are excluded from the scope of the cover
For more detail visit Avdhoot Investment

Private Car Package Policy

Private Car Package Policy
Brief Description :
A Private Car is defined as any transport vehicle /car /omnibus whose unladen weight does not exceed 7,500 kgms and is used only for social,domestic and pleasure purpose and insured’s own business. The policy does not cover use for Hire or Reward, Organised racing, Speed testing and carriage of goods (other than samples) in connection with any trade or business or use for any purpose in connection with MOTOR TRADE. On payment of extra premium the policy may be extended for Personal Accident cover as well.
Covered Risks :
Fire,Explosion, Lightning,Burglary and Theft,Riot and Strike, Typhoon,Hurricane,Storm, Tempest, Malicious act,Earthquake,Flood,Terrorist activity,Landslide/Rockslide. It also covers damages by accidental, external means while in transit by rail/road, inland water, lift or air in addition to the legal liability required by law
Major Exclusions :
Consequential loss,Depreciation,Wear & tear, Mechanical/ electrical breakdown, failures or breakages,Damage to tyres unless the motor car is damaged at the same time and any accidental loss or damage suffered while the person driving is under the influence of intoxicating liquor or drugs.
For more detail visit Avdhoot Investment