Cheques
This query is : Resolved
30 October 2015
Sir,
Difference between Crossed cheque and Account payee cheque. When are they used?
30 October 2015
Account payee cheque shall go into the account of the payee.
Crossed cheque is the one where the payment of the same can not be made across the counter.
(In practice, there is a very little difference in both. vis a vis to ensure the accurate payment satisfaction sansrisk, account payee is better
Crossed cheque is the one where the payment of the same can not be made across the counter.
(In practice, there is a very little difference in both. vis a vis to ensure the accurate payment satisfaction sansrisk, account payee is better
30 October 2015
Sir,
In sec 269ss and 269 T, why a/c payee chq only, why not crossed chq
02 November 2015
because Income tax wants to ensure additional safety measure.
"Account payee" ensures the payment is made to the account of the payee.
"Account payee" ensures the payment is made to the account of the payee.
03 November 2015
You are most welcome.
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