What is the procedure to apply for Fixed Deposit Receipt?
One can apply for Fixed Deposit in prescribed application form accompanied by Cheque / Bank Draft on a scheduled bank payable at par / New Delhi. The Cheque /Bank Draft should be drawn in favour of "Unitech Limited - Fixed Deposit Account " and should be crossed " A/C Payee Only".
What is the difference between Non Cumulative scheme and Cumulative scheme?
In 'Non cumulative scheme' the interest is payable on quarterly basis. This scheme is beneficial for those depositors who require a periodical interest payment. In Cumulative scheme, interest is compounded on monthly basis for deposits of one year and above and payable at the time of maturity along with the principal. In cumulative scheme, since interest is compounded on monthly basis, yield comes much higher than in non cumulative scheme. Presently, For deposits of 3 Years, under cumulative scheme , interest yield works out to 15.07% per annum.
From Where Application Form may be obtain?
Application Form may be obtained from our website, Regd. Offices, Gurgaon FD Office or the offices of the Managers / Authorized Brokers.
How to submit the application form?
Application form duly filled and signed should be submitted to the Company's office at Gurgaon, Registered office at Saket, New Delhi or the Offices of the Manager / Authorized Brokers.
Whether Application Form can be downloaded from Net?
Dwonload Unitech FD Form
Whether Cash can be deposited for making FD?
No, Payment will not be accepted in cash.
What is the process to deposit an application which consist a thumb impression instead of a signature?
In case the investor has applied with the thumb impression, the impression will be certified by the investor's banker (i.e. signature with Bank seal) on the application form and at the time of maturity/renewal request.
Should the corrections made on the application form be countersigned?
Yes, all changes made on the application form need to be countersigned.
Are 3rd party cheque accepted?
3rd party cheques will be accepted only from first family members of the depositor.
Can a FDR be sent to the address of a broker through whom the Depositor has made the investment?
The FDR would be dispatched at the brokers address only if request letter from the Depositor is received. All the FDRs would by default be sent to the address of the depositor.
How will the Fixed Deposit Receipt be generated, if the investment cheque is deposited in the company's bank account at a certain location and the corresponding original Application Form along with the original Deposit Receipt sent to the Offices of Unitech Ltd is lost in transit?
In case of any loss, a duplicate copy of the Application Form has to be sent to the Company's Fixed Deposit Offices along with the dispatch details (POD number) of the original application. Depositor is also required to furnish copy of PAN card and copy of bank statement showing the particular transaction debited in his bank account.
What documents are required to be submitted along with the application form?
Following documents are required to be submitted for investment in Fixed Deposit Scheme (category wise):
- PAN Card Compulsory
- Form 15G/H if applicable.
Private Limited Company
- Memorandum of Association
- PAN Card of Company
- List of authorized signatories
- Board of Resolution
- Trust deed
- Copy of PAN Card
- List of authorized signatories
- Tax Exemption Certificate if available
Renewal of FDR
What is the procedure for renewal of the FDR?
The Original FDR along with following documents should be submitted to the Company's office at Gurgaon, Registered office at Saket, New Delhi OR the Offices of the Manager / Authorized Brokers at least 21 days prior to the maturity.
- Application Form,
- Copy of PAN Card,
- Form 15 G/H (if applicable)
FD shall be renewed for Principal Amount only.
What is the procedure for renewal of the FDR in case Original FDR is misplaced or lost in transit?
Investor is required to submit the following documents in case of loss of FDR:
- Indemnity Bond on Rs.100/- stamp paper duly attested by notary public
- Request letter
- copy of the bank statement showing the name, address and deposit transaction made in favour of Unitech Limited
- Application Form,
- Copy of PAN Card,
- Form 15 G/H (if applicable).
Redemption / Payment of FDR
What is the procedure for payment of the FDR?
The Original FDR duly discharged on a revenue stamp should reach the FD office of the company at least 21 days before the date of maturity to enable the company to refund the amount on due date.
When will be Interest cheques received, if invested under scheme A?
Under scheme A , Interest will be payable quarterly on Ist April , Ist July , Ist October and Ist January each year and post dated cheques for the financial year will reach you 15 days prior to the due date of the First Interest Cheque.
When will be Interest cheques received, if invested under scheme B?
Interest under scheme B for the deposits of one year or more is compounded on monthly basis and total interest under scheme B is payable on maturity. Interest cheque under scheme B will reach you 15 days prior to the Maturity Date.
Whether interest earned on Fixed Deposit is taxable?
Yes, Interest earned on Fixed Deposit is taxable in the hand of Depositor as per prevailing Income Tax Rules.
What is the Brokerage Cycle and how it will be released?
Company follows a monthly Brokerage payout cycle. At the end of each month an MIS/ statement of all Investment made through the broker/channel partner will be sent for their perusal. The broker/channel partner can reconcile the same with their records. Once the debit note based on the statement sent by them reaches the registered office, the brokerage cheque is released.
Should the Broker/Channel Partner maintain any form of MIS for the applications submitted by him?
Yes, the broker /channel partner should maintain an MIS so that in case of any discrepancies/queries it can be reconciled with the statement sent by Unitech Ltd. at the end of each month.
In case an application is not carrying the broker code, what is the process for rectification of the same as for the broker to get due credit in his brokerage account?
An application from the investor confirming the above should be sent at the Company's Fixed Deposit office. The same should also be emailed to firstname.lastname@example.org
within 5 working days of the statement issued by Unitech Ltd. to the broker at the end of each month.
Is TDS deductible on Interest income?
TDS is deductable, if interest income credited or paid or likely to be credited during one financial year exceeds Rs. 5000/- to any person against one or more deposits in the same name. However, Investor may submit the Form 15 G/H OR Income Tax Exemption Certificate to claim exemption from TDS.
What is the rate of TDS?
TDS is deducted @ 10%.
In case Investor has not furnished PAN, TDS is deductable @ 20% as per prevailing Income Tax Rules.
How the TDS Certificate will be dispatched?
TDS certificate will be generated by NSDL on behalf of Income Tax Department and therefore TDS certificate will be sent to the address registered with PAN card authorities at the time of applying for PAN card. We request you to change the address with PAN card authority if your current communication address is different from the address in the PAN card else you will not receive TDS certificate as it will be going to your PAN card address. You can also check the TDS status (Form 26AS) from NSDL website by doing simple registration at their website.
When the TDS Certificate will be dispatched?
TDS certificate will be dispatched on quarterly basis.
Form 15 G/H
How one can claim the tax exemption on Interest income?
Form 15G is applicable to Individual & HUF while Form 15H is applicable only to senior citizen who has attained the age of 60 Years or more any time during the financial year.
Form 15G/15H is a self declaration by the depositor under Income Tax Act 1956 that his total income in the previous year will be below taxable limit. It is a self declaration by the depositor which needs no attestation by anybody except in the case of Left Hand Thumb impression which needs to be attested by a Gazetted Officer/Bank Official. 15 G/H is required to be furnished in duplicate along with the application form and for subsequent years in April of that year. Form 15G/15H have the estimated interest payable to the Depositor for the full financial year and such estimated interest is calculated as on 31st March of each financial year.
If Form 15G/H is furnished, will there be any query from Income tax dept.?
As one copy of the Form 15 G/H is submitted to the Income Tax Department, they may raise the query.
Whether PAN number is mandatory for furnishing Form 15G/H?
Yes, PAN number is mandatory for furnishing Form 15G/H. Without PAN number, Form 15 G/H will be invalid and no tax benefit will be allowed.
Can you open more than one account in the same name?
No. All fixed deposits stand in the same name are clubbed together for the purpose of Income Tax calculation.
If the first named depositor dies, what documents are required?
In the event of the death of the first named depositor, all payments on account of interest and principal will be made on submission of a death certificate, to the second named depositor as mentioned in the FDR and similarly in the event of his death to the next named surviving depositor without reference to the heirs and/or legal representatives of the deceased.
If the sole depositor dies, what are the documents required?
In the event of the death of the sole named depositor, all payments on account of interest and principal will be made to the legal representatives of the deceased on the production of proper legal representation such as death certificate, probate of the will, succession certificate, administration granted by the court of competent jurisdiction.
What would be the process in case the interest cheque kept with the investor is lost or not deposited within the valid time frame?
If the interest cheque amount is above Rs. 10,000/-, investor would be required to submit an Indemnity Bond for issuing duplicate interest warrant along with request letter for making stop payment of the earlier interest cheque issued to him.
However If Interest Cheque amount is below Rs. 10,000/-, duplicate interest warrant may be issued only on submission of request letter for making stop payment of the earlier interest cheque issued to him.
In case of non deposit of a cheque in valid timeframe the investor will have to send the old cheque with a request letter duly signed, at the Fixed Deposit office address in order for the company to issue a new cheque.
What would be the process in case the Maturity Payment cheque is misplaced or lost in transit or not deposited within the valid time frame?
A duplicate redemption cheque will be issued on submission of an Indemnity Bond on Rs. 100/- stamp paper duly attested by notary public in case the cheque is misplaced or lost in transit along with request letter and copy of the bank statement showing his/her name, address and deposit transaction favouring Unitech Limited. In case of non deposit of a cheque in the valid time frame the investor will have to send the old cheque with request letter duly signed at the Fixed Deposit office address in order for the company to issue a new cheque.
In case a customer does not get the Fixed Deposit Receipt, who should be contacted?
In case a customer doesn't get the Fixed Deposit Receipt, she/he may contact us at the Company's Fixed Deposit office or email us at email@example.com
or Contact us at 0124-4848900.
What are the documents required for issuance of duplicate FDR?
For issuance of duplicate FDR, Indemnity Bond is required on Rs.100 non judicial stamp paper duly attested by notary public along with copy of PAN Card and copy of bank account statement, showing the Name and particular transaction in favour of Unitech Limited.
Document List: Indemnity Bond, Copy of PAN Card, Bank Statement
Change of Address
What are the documents required in case change of address?
Address may be changed on the basis of written request made by First Applicant along with address proof (Phone Bill, Electricity Bill, Voter ID Card, Pass Port, Driving License, Rent Agreement, Bank Statement & any other document)
For name correction, written request made by First Applicant is required along with Original FDR, copy of PAN Card and Bank Statement showing his/her name and transaction amount in favour of Unitech Limited.
Whether nomination facility is available?
Yes, Applicant's may nominate any person to whom all right of the amount payable in respect of the Deposit shall vest in the event of Applicant's death.
After issuance of FDR, whether one can request for the nominee updation?
Yes. Nominee may be updated on written request made by the Investor along with Form 2B and copy of PAN card of the nominee.