Cheques

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ajith

ajith (Querist)
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30 October 2015 Sir, Difference between Crossed cheque and Account payee cheque. When are they used?

Amol S Joglekar

Amol S Joglekar (Expert)
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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

ajith

ajith (Querist)
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30 October 2015 Thank u sir

ajith

ajith (Querist)
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30 October 2015 Sir, In sec 269ss and 269 T, why a/c payee chq only, why not crossed chq

Amol S Joglekar

Amol S Joglekar (Expert)
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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.

ajith

ajith (Querist)
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02 November 2015 Thank u sir

Amol S Joglekar

Amol S Joglekar (Expert)
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03 November 2015 You are most welcome.
.
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