Skip to main content

How to Get Duplicates of your Financial Documents?



Imagine losing your ration card. Or your voter's ID card, for that matter. The thought itself is scary, even more so when you think of the painfully tedious procedure involved in obtaining duplicates of these documents.


In case of financial documents — as well as the one required for completing financial transactions — the task is a little simpler. The ideal approach, of course, is to simply ask for a soft copy of such documents — mutual fund investments, insurance policies, etc — to avoid the stress involved in getting a physical copy replaced. If you prefer the touch-and-feel factor, however, here's what you need to know, just in case you end up misplacing your financial documents.

INSURANCE POLICIES:

The procedure for getting a duplicate is fairly simple. First, you need to inform your insurance agent or the life insurance company's call centre about your loss and place a request for issue of a duplicate document.


You will be required to submit an indemnity bond on a stamp paper (the stamp duty will depend on your state of residence). The same can be either passed on to your agent or couriered to the insurance company. If the policy document is partially damaged due to fire or flood, you may be required to produce the remnants of the policy document as evidence at the time of applying for a duplicate policy. Upon submission, the life insurer should ideally not take more than seven days to issue a duplicate policy.

FIXED DEPOSIT RECEIPTS:

The first step would be to intimate the bank where you maintain the deposit. You should inform the bank in writing about the loss of the receipts. The letter should detail the circumstances under which the receipts were lost. In case of joint depositors, the letter has to be signed by all of them. Then, the depositor is required to furnish an indemnity bond, against which a duplicate deposit receipt will be issued by the bank. Again, the stamp duty as prevalent in your state will be applicable here.

PAN CARD:

The tax angle apart, your PAN card acts as one of your key identification documents while carrying out any investment/financial transaction. Therefore, getting a duplicate PAN card is absolutely essential. The process is not very taxing. NSDL and UTI Technology Services are the two agencies authorised to issue a PAN card and you need to download the new PAN/change request/correction form from the respective websites. You can also get these forms from the designated PAN application centres. The completed form, along with the documents asked for and your photograph, will have to be submitted at the PAN application centres, along with the fee specified.

HOME LOAN AGREEMENT:

The borrower has little to lose in this case, as the original document is in the lending bank's custody, and not in the possession of the borrower. The original home loan agreement is always retained by the bank, with a copy of the same being provided to the borrower. Therefore, if you misplace the copy, you have to send in an application to the bank/housing finance company, requesting them to provide you with another copy of the home loan deed.

 

Popular posts from this blog

Mutual Fund Review: Taurus Tax Shield

    Taurus Tax Shield has seen a turnaround in performance since 2007, but still remains a volatile offering… The fund has seen a turnaround in its performance since 2007 and has delivered impressively during market rallies since then. The portfolio is also more diversified. It contained its downfall to an average level in 2008 but is still one of the most volatile offerings in this category. Bold investors can look at this fund.   Strategy The fund manager invests across the market capitalisation and sectors. The selection of stocks is made on the basis of long-term business prospects and value creation. Fund Insight Launched in March 1996, the fund was a laggard with just two annual outperformances. Concentrated stock bets and high exposure to mid and small caps led to it being hit harder during market downturns. The number of stocks in the portfolio never exceeded 20 and it was not rare to see the top 5 holdings account for around 60 per cent of the portfolio. After b...

NRIs and direct taxes code (DTC)

DTC Proposes To Do Away With Special Provision That Allows NRIs Liberalised Duration Of Stay In Country      THE new direct taxes code could bring a large number of global Indians under the tax net, as it does away with a provision that allowed individuals to escape tax in any country citing double tax avoidance.    The new legislation, introduced in Parliament on Monday, says an individual shall be a resident of India in any financial year if he is in the country for more than 59 days in that year, and has been has been India for more 365 days in four preceding financial years. A number of Indian industrialists including Vedanta's Anil Agarwal and Essar's Ravi Ruia have acquired non-resident status over the years.    The DTC has only attempted to clean up the provision in line with the laws globally. A phrase "being outside India" in the existing income tax law exempted individuals who stay outside the country for six months from paying taxes. This was prone ...

Stick to Good Fund Manager who Can Multiply Your Investment

A manager may be the difference between the best and worst funds. Here's how you can find the right one    Does a mutual fund manager make a difference to your investment? The answer may not be as easy as you think, since most best-performing mutual funds have moved away from individualistic fund management to process-driven methods, limiting the scope of an individual's role in investment decisions. In fact, many fund managers would speak at length about how the "system" their fund house has in place makes their task of picking stocks easy even though it restricts their freedom. Still, the question is important, especially after recent reports that the Securities and Exchange Board of India ( Sebi ) may ask fund managers to disclose to investors their track record of managing money. Let us take a look at the universe of large-cap funds over the past five years. According to Value Research, an independent mutual fund tracking firm, the topper in the category is DSP...

AXIS Long Term Equity Fund - The Best Tax Saver Fund for 2016

  AXIS Long Term Equity Fund - Invest Online   History:   The open ended mutual fund was launched on December 21 in the year 2009. It is benchmarked against BSE 200 and managed by the fund manager JINESH GOPANI. Initially the scheme was called as Axis tax saver fund but later it was renamed as Axis long term equity fund with effect from September 2, 2011. Nature of investment: As far as asset allocation is concerned, 97.52% of the stocks are equity and 0.02% is debt based. The primary focus of the fund is to invest in diversified equity stocks that have higher growth potential. Total asset size of the fund is in the tune of 4,996 CRORE as of June 30, 2015. Performance: The performance of the fund for one year, 3 years and 5 years are 23.6%, 29.9% and 19.1 respectively which are far greater than 6.4%, 14% and 5.6% benchmark figures. It has also preformed fairly well against SBI magnum Tax Gain (G) and HDFC tax saver (G). The growth comparison is enumerated below;                        ...

IDFC Classic Equity Fund

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India)   IDFC Classic Equity Fund IDFC Classic Equity is a large-cap equity fund which currently has assets under management worth Rs. 158.52 crore. It was launched in August 2005. The fund is benchmarked against the BSE-200 Index. Performance YTD 1-Year 3-Year 5-Year Since Inception IDFC Classic Equity 0.93 26.61 6.30 1.01 11.65 BSE 200 1.52 17.31 6.00 1.99 12.98 All figures in % as on January 31, 2013; Returns above one-year in CAGR terms ...
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now