If payment is made above rs. 5000 through a/c payee cheque
This query is : Resolved
20 April 2013
what obligation arise if payment is made in excess of Rs. 5000 through A/c Payee Cheque
20 April 2013
In case of payment exceeding Rs 5000/- is made by an account payee cheque, actually, your obligation gets discharged.
.
However, as per Payment of Stamp Duty Act - if you desire a valid receipt from the Receiver, it should be issued by him by affixing Re.1/ Revenue Stamp.
In case of payment exceeding Rs 5000/- is made by an account payee cheque, actually, your obligation gets discharged.
.
However, as per Payment of Stamp Duty Act - if you desire a valid receipt from the Receiver, it should be issued by him by affixing Re.1/ Revenue Stamp.
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