Raj Kumar Makkad's Expert Profile

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Syed says : My education loand issue need advice
Dear Sir, Sub: Personal Segment Advance – under education loan scheme – term loan of Rs. 300,000 borrowed from State bank of Hyderabad, Masab tank, Hyderabad branch. I wish to inform your kindself the following for legal guidance and your esteemed opinion. 1. The Education loan was taken in two installment @ 1.50 Lakh (on 5-7-2006) and Rs. 1.50 Lakh (01-01-2007) for higher studies (M.S.) @ 11% interest per annum. 2. Accordingly I have fulfilled the purpose of loan and successfully completed my M.S. from Sweden in 2008 March. 3. As per agreement repayment of loan commences one year after the completion of course i.e., March (2+1) =3 years moratorium 2009. 4. The loan is sanctioned on the basis of a 3rd party guarantor. 5. Unfortunately up till now I could not secure a salaried job. I am doing some odd job work hardly sufficient for my livelihood and parents care. 6. Nevertheless I have arranged some money and repaid about Rs.70,000 in various installment as and when I could afford. 7. But since last five months the bank agreed upon an amount of Rs. 4050 as an EMI on regular basis and it is being directly deducted by the bank from my Father’s pension who is a senior citizen and heart patient. 8. Now the bank in spite of accepting monthly regular payment of Rs.4050 issued a legal notice for the recovery of accrued interest of Rs.164,000 (as an interest from the date of the sanction of the loan i.e. 4 years 11% some where equal to 164,000 with penal interest). 9. The bank has informed that the loan is repayable in 90 months @ Rs 4050 EMI. 10. It seems the bank has not considered the Moratorium period and imposed interest from the date of sanction of the loan 05-07-2006 The serious concern is that the interest should be levied after completion of the course added with one year grace period but my bank is charging the rate of 11% interest from the date of the sanction of the loan and the total amount us as below: - Loan Amount – 300,000 Interest 11% for – 165,000 ---------------------------------------- Total due 4,65,000 (As per bank notice) Although occasional payments around Rs. 70,000 before the commencement of regular EMI of Rs.4050 since last four months but still I have been given a notice for paying Rs.165000 in total 7 days and failure do it legal action will be taken against me. So, I want your kind help in this regard. How I could settle this matter and how my interest will be deducted. Yours truly, syed

Nisar says : Regarding Service Tax on Property
Hi, I purchased the flat in ready possesion for 30 Lacs in JAN 2011. I almost paid 95% of amount with including Bank loan. Now builder is asking me for service tax and VAT. As I know, service tax is not applicable to buyers after builder gets completion certificate. So my question is whether I am applicable for service tax in this case? And shall I ask for completion certificate from builder?

kumar says : related to job termination and salary
Dear Sir, I need your help I have joined the company on 08th of feb and had been fired on 03rd of march by giving the reason of insubordination and non-performance which is baseless. I am not on the provisionary period. In my offer letter and appointment letter there is no where mentioned regarding any provisionary period so how they can fire me without intimating earlier. There is nothing written in the offer letter or appointment letter regarding termination or resignation. Second thing they are saying that they will provide only base salary to those working days . My 50% salary is Base salary and 50% is performance based salary. I have demanded that I need one month full salary with compensation as they have not informed me earlier. In the offer letter and appointment letter it is written that if your performance is not said level the I will not entitled to get performance based salary . but this will be decided only after one month and before one month they have fired me. Sir, how would I proceed further. What are the action I can take . Waiting for your quick and positive reply With regards Kumar gautam 09371529269 begautam@gmail.com

Karan says : LTCG tax
Hello Experts , My father and mother booked a plot worth 60 lakhs with a builder/developer under construction/development linked plan in july 2009.My father made part payment for 10 lakhs & 10 lakhs from relative (Total 20 lakhs). In feb 2010 my mother sold a plot for 10 lakhs and invested the amount in the above mentioned plot. Now my father wishes to sell his 15 yrs old plot for 40 lakhs , pay the relative 10 lakhs and rest to the builder to cover the balance . the builder is expected to do the registration / possession by april 2012.Then we plan to construct the house. My ques is Is my mothers plot sale & fathers plot sale long term capital gain are adjustable in this booked property. Thanx & Regards

S says : I was charged under Section-IPC 279, 337
Hi, I am staying in Chennai. I hit to a person who is walking on the road with my bike and we both were injured. I had admitted him in the hospital and paid an advance amount of 20,000 INR. The problem is he is a police conistable and he filed a case agaisnt me. When I went to police station to collect my bike, they gave me the FIR and bail after paying the penalty and I was charged under IPC 279, 337 cases for rash driving. Unfortunately My vehicle insurance was expired and the victim has no insurance. As this is a small accident, I approached a lawyer and he said that I can pay the fine amount in the court and I can get rid of it. But I am baffled. Is this the right solution to get withdrawed from the case? Is there any alternative to close this case asap? Kindly help me

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