Sahara India Refund News: Sahara depositors will get money with 15% interest! – StudyToper

There is good news for the depositors of Sahara India. Depositors who have been waiting for the return of their money for a long time are now going to get relief. After the order of the Supreme Court, Sahara India has decided to return their money to its depositors with 15% interest. This news has brought great relief to lakhs of depositors, who were waiting for the return of their money for the last several years.

In this article we will explain in detail all the important information related to Sahara India Refund. We will know how this refund process will work, which depositors are eligible for it, and what steps need to be followed to get the money back. We will also answer some important questions related to this refund process.

Overview of Sahara India Refund Scheme

Before knowing the main points of Sahara India Refund Scheme, let us take a look at its overview:

What is Sahara India Refund Scheme?

Sahara India Refund Scheme is an initiative under which Sahara India will return their money to its depositors. Under this scheme, depositors will not only get their original deposit amount back but will also be given interest at the rate of 15%. This decision has been taken after the Supreme Court order, in which Sahara India was directed to return the money of its depositors.

Who is eligible for refund?

The following depositors are eligible for Sahara India Refund Scheme:

1. who deposited money in sahara india
2. Who have valid deposit receipt or certificate
3. who have not yet received their money back
4. Who have invested in any scheme of Sahara India

It is important to note that only those depositors who have valid documents of their investments can avail the benefits of this scheme.

How will the refund process work?

Sahara India refund process will work in the following steps:

1. Online Registration: Depositors must first register themselves by visiting the official website of Sahara India.
2. Document Upload: After registration, depositors need to upload all their required documents like Aadhar Card, PAN Card, and Deposit Receipt.
3. Verification: Sahara India officials will verify the documents uploaded by the depositors.
4. Calculation of Refund Amount: After verification, the total refund amount will be calculated by combining the original deposit amount and 15% interest.
5. Transfer to bank account: Finally, the refund amount will be transferred directly to the depositor’s bank account.

Documents required for refund

The following documents will be required while applying for Sahara India Refund:

• Aadhar card
• PAN card
• copy of bank passbook
• Sahara India Deposit Receipt or Certificate
• passport size photo
• signed application form

Make sure that you submit clear and readable copies of all documents.

How will the refund amount be calculated?

The refund amount will be calculated using a simple formula:

Total Refund Amount=Principal Deposit+(Principal Deposit×15

Total Refund Amount=Principal Deposit+(Principal Deposit×15

For example, if a depositor had deposited Rs 1,00,000 5 years ago, his refund amount would be as follows:

1,00,000+(1,00,000×15

1,00,000+(1,00,000×15

In this way, the depositor will get a refund of Rs 1,75,000.

How to apply for refund?

Following is the process to apply for Sahara India refund:

1. Visit the official website of Sahara India.
2. Click on “Refund Application” section.
3. Enter your name, mobile number, and email ID.
4. Complete OTP verification.
5. Upload the required documents.
6. Fill the application form carefully.
7. Click on submit button.

After submitting the application you will get a reference number. Keep this number safe as you can use it to check the status of your application.

How much time will the refund process take?

Sahara India has announced that it will try to give refunds to all eligible depositors as soon as possible. However, given the large number of applications, the entire process may take some time. Generally, the refund amount will be transferred to the bank accounts of the depositors within 30 to 60 days of application submission.

Will the refund amount be taxable?

Yes, the refund amount will be taxed. There will be no tax on the original deposit amount, but 15% interest will be deducted as TDS (Tax Deducted at Source) as per Income Tax law. The rate of TDS will depend on the income and tax slab of the depositor.

What to do if you do not receive a refund?

If you have applied correctly and still have not received a refund, you can take the following steps:

1. Contact Sahara India’s helpline.
2. Check your application status online.
3. Visit the nearest office of Sahara India and inquire.
4. If no solution is found, you can file a complaint with SEBI (Securities and Exchange Board of India).

Important questions and answers related to Sahara India Refund

Q1: Can I apply for a refund in the name of my family member?

A1: No, refund can be applied for only by the original depositor. However, if the original depositor has died, his legal heirs can apply with the required documents.

Q2: Do I have to pay any fee for refund?

A2: No, the refund process is completely free. If any person or organization asks you for money in the name of refund, it may be a fraud.

Q3: What if I have lost my deposit receipt?

A3: If you do not have the deposit receipt, you can apply for a duplicate receipt by visiting Sahara India office. You will have to submit an affidavit and identity proof for this.

Disclaimer

This article is for informational purposes only. Although we have attempted to provide accurate and up-to-date information, the rules and procedures regarding the Sahara India Refund Scheme may change from time to time. Please consult Sahara India’s official website or their authorized representatives for the most recent and accurate information. The author or publisher will not be responsible for any action taken based on the information given in this article.