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SEC 40A3

This query is : Resolved 
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Guest

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Guest (Querist)
03 July 2009 WHAT IS THE DIFFERENCE BETWEEN A/C PAYEE AND CROSSED CHQ.
I THING ITS SAME AS NI ACT
AS PER SEC 40 A 3 : IT IS WRITTEN ONLY A/C PAYEE CHQ
SO WHY IT IS NOT ALLOWED IF CHQ IS CROSSED (AS PER BOOK OF GIRISH AHUJA )
I THING IT IS ONE OR THE SAME THING
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CA Kartik Pandya

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CA Kartik Pandya (Expert)
03 July 2009 hey dear, why did u refer the title of this querry as sec 40A3 thats really confused me !!! first of all pls clarify it.
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Manoj

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Manoj (Expert)
04 July 2009 A/c Payee is a type a crossing in which the amount is to be transferred through bank accounts.
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