Income tax
This query is : Resolved
ritesh bhattad
(Querist)
04 September 2010
what is meaning of a/c payee cheque & crossed cheque? What is the difference between them? Can a/c payee cheque be negotiated?
CMA Ramesh Krishnan
(Expert)
04 September 2010
A crossed cheque can be endorsed to any body, suppose Person A giving cheque to B only crossed, that cheque can be endrossed by B and give to any person
But crossed with Account payee cannot be endorsed by anybody only the name appearing in the cheque that person can get credit in his/her account
But crossed with Account payee cannot be endorsed by anybody only the name appearing in the cheque that person can get credit in his/her account
ritesh bhattad
(Querist)
06 October 2010
Thank you very much
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