Stipend received cash instead of cheques
This query is : Resolved
05 March 2008
Dear All,
One of my friend received his stipend by cash instead payee’s cheques and he has resigned from that firm and joined some where else as Article tranee a letter from ICAI branch has been recived by previous employeer regarding objection on cash payment.
Wheather it will effect his new joining in any way.
Please help us in this regard
Thanx in advance
One of my friend received his stipend by cash instead payee’s cheques and he has resigned from that firm and joined some where else as Article tranee a letter from ICAI branch has been recived by previous employeer regarding objection on cash payment.
Wheather it will effect his new joining in any way.
Please help us in this regard
Thanx in advance
05 March 2008
IN MY VIEW IT WILL NOT EFFECT HIS NEW JOINING .IT IS ON PART OF EMPLOYER TO PAY STIPEND BY CHEQUE
05 March 2008
CASH PAYMENTS UPTO RS. 20000/- ON A SINGLE DAY PER TRANSACTION IS ALLOWED BY IT ACT.
ANY VIOLATION WILL MAKE THE PAYER RESPONSIBLE TO PAY A 100% PENALTY AS PER LAST YEAR FINANCE ACT.
THE STUDENT MAY WELL REPLY (IF ASKED TO) AND EXPLAIN THAT HE RECEIVED THE SAME WHEN OFFERED BY HIS EMPLOYER.NO ISSUE ON AFFECTING HIS CAREER.
R.V.RAO
ANY VIOLATION WILL MAKE THE PAYER RESPONSIBLE TO PAY A 100% PENALTY AS PER LAST YEAR FINANCE ACT.
THE STUDENT MAY WELL REPLY (IF ASKED TO) AND EXPLAIN THAT HE RECEIVED THE SAME WHEN OFFERED BY HIS EMPLOYER.NO ISSUE ON AFFECTING HIS CAREER.
R.V.RAO
CA. GOPAL SONIKA
(Expert)
06 March 2008
No it will not affect
06 March 2008
It wont affect
CA J M Pattanayak
(Expert)
07 March 2008
Hi Vipin
The letter from ICAI will not affect ur friend from joining with the new Place.
But its preferred by ICAI to give stipend thru cheque so that the principal keeps a record stating that the same is being paid.
The letter from ICAI will not affect ur friend from joining with the new Place.
But its preferred by ICAI to give stipend thru cheque so that the principal keeps a record stating that the same is being paid.
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