indemnity bond for income tax refund cheque lost

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 November 2010 i received a cheque from income tax department toward income tax refund, which is lost elsewhere. Now department directed to me please produced a indemnity bond for the same

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 November 2010 THIS INDEMNITY BOND executed on the ……………………………. Day of
……………………………………BY …………………son of …………………
Resident of………………………………………………………………………… carrying on business under the name and style of ………………………………..
at ……………………………………having its registered office at………………….
(hereinafter called ‘the indemnifier’
which expression shall unless excluded by or repugnant to the context be deemed to
include his heirs, executors, administrators, legal representatives, successors and
permitted assigns) IN FAVOUR OF the President of India (hereinafter called ‘the
Government’ which expression shall unless excluded by or repugnant to the context be
deemed to include his successors or assigns)
WHEREAS on the …………………………… day of ……………………………
CHEQUE No…………………………………… dated ………………… on…………….
(Name of the bank) for Rs…………………………………… was drawn by …………….
…………………………… in favour of the Indemnifier.
AND WHEREAS the Indemnifier has represented to the Government that the said
cheque has been lost him during transmission by post to him.
AND WHEREAS at the request of the Indemnifier the Government has agreed to
issue a second cheque for Rs……………………………… being the amount of the said
previous cheque No………………………………dated………………… upon the
……………….. Indemnifier giving such indemnity as hereinafter contained. NOW IT IS
HEREBY AGREED by and between the parties hereto as follows :-
1) In consideration of the said premises and of the agreement on the part of the
Government in issuing in favour of the Indemnifier a second cheque for
Rs.…………… being the amount of the previous cheque No……………………
dated ………………… the Indemnifier both hereby agree and undertake to refund to
the Government on demand and without demur of the said sum of
Rs…………………….. in the event of the said previous cheque
No……………………. dated……………………being presented to and paid by the
bankers and to indemnify the Government and keep the Government harmless and
indemnified from and against all expenses which may be incurred by the Government
in relation hereto or in connection therewith.
2) The Government agrees to bear the stamp duty, if any, chargeable on these presents.
IN WITNESS WHEREOF the indemnifier hereto have set and subscribed his respective
hand hereunto on the …………………………… day and year first above written.
Signed
(Indemnifier)

WITNESSESS
1.……………………………………………………………………………

2. ………………………………………………………………………………

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CA.Madhusudan B.P.

CA.Madhusudan B.P. (Expert)
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17 November 2010 The department is correct in asking for indemnity bond, it may be executed to teh President of India you may kindly take a bond on Rs.100 & clearly mention that the refund cheque is lost & provide all the details like Name, PAN, Address, A.Y. also mention the refund the lost details etc.,

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