Type of Cheque
This query is : Resolved
10 May 2009
Can anyone give me the details regarding the various type of cheques used in business transaction with a bank. Like account payee cheque, bearer cheque, cross cheque etc. I want to know what the different use of these type of cheque and where one can use these one and speciality of each of them.
Regards
Regards
12 May 2009
Account Payee Cheque- Cheque can be deposited in the A/c named in the cheque.
Cash can not be withdrawn.
Bearer Cheque: Who ever is having the cheque can withdraw cash from the bank.
Cross Cheque: In such cheques generally amt is written but name of the payee may or may not be mentioned. In case name is written, on the back side of the chq that person endorses in favour of third person . In such a case cross chq can be deposited in the third person's bank a/c
Cancelled Chq : If chq doesn;t remains usable it is cancelled.
It is also taken by stock brokers for opening a demat account for obtaining your bank details. Like MICR No. A/c No etc
Blank Cheque: It is generally given to reputed educational institutions for getting admission of their children by the richmen.
Cash can not be withdrawn.
Bearer Cheque: Who ever is having the cheque can withdraw cash from the bank.
Cross Cheque: In such cheques generally amt is written but name of the payee may or may not be mentioned. In case name is written, on the back side of the chq that person endorses in favour of third person . In such a case cross chq can be deposited in the third person's bank a/c
Cancelled Chq : If chq doesn;t remains usable it is cancelled.
It is also taken by stock brokers for opening a demat account for obtaining your bank details. Like MICR No. A/c No etc
Blank Cheque: It is generally given to reputed educational institutions for getting admission of their children by the richmen.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- Relief u/s Section 89
- REGARDING SECTION 44AE
- ASISSE return under the provisions of the Collection of Statistics Act, 2008 (7 of 2009)
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
