How to write a WILL?
The term WILL is, defined under Section 2(h) of the Indian Succession Act 1925. It is a declaration in writing by the Testator (A person who makes a will), showing how his/her properties and assets should be distributed after his/her death. The WILL surpasses the succession law on inheritance. The person, whose name is mentioned…
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What is the advantage of registering a will?
In terms of section 18 of Registration act, the registration of a WILL is not compulsory. In the case of Ishwardeo Narain Singh vs Kamta Devi ( AIR 1954 SC280), the Supreme Court also held and observed that in a majority of cases wills are not registered and to draw any inference against the genuineness…
Read article Importance of making a WILL in addition to nomination
The provisions of nomination are found in various Acts like Life Insurance, Provident Fund, Gratuity, Co-operative societies and banking regulation acts. You might have made nominations for all your bank deposits, real estate assets in the co-operative housing society, Bank lockers, insurance policies, mutual funds, shares etc. Therefore, you assume that nominations made by you…
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Free Annual Credit Report to Individuals from January 2017
Reserve Bank of India, directed today (September 1, 2016) that with effect from January 1, 2017, all Credit Information Companies (CICs) shall provide access, upon request and after due authentication of the requester, to a free full credit report (FFCR) once in a calendar year (January to December) to individuals whose credit history is available…
Read articleSovereign Gold Bonds 2016-17 – Series II open for subscription
Government of India has, vide its Notification F.No. 4(7)-W&M/2016 dated August 29, 2016, announced that the Sovereign Gold Bonds 2016 – Series II (“the Bonds”) will be open for subscription from September 01, 2016 to September 09, 2016.The issue price of the Sovereign Gold Bond 2016-17 Series II tranche has been fixed at ₹ 3150/-…
What is co-acceptance of bills?
Co-acceptance of bills means “an undertaking from the third party (Bank) to make payment to the drawer of the bill (seller/exporter) on due date even if the buyer/importer fails to make the payment on that date”. Thus, in the Co-acceptance of the bills, the bank which stands as co-accepter acts as a guarantor similar to LC…
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