Can an account payee cheque be endorsed to another person? If yes, how its done?
Thnx in advance!!
Menu
Endorsement
Replies (3)
account payee cheque can't be endorsed..........
It cannot be done......
ACCORDING TO LAW AN A\C PAYEE CHEQUE CAN BE ENDORSED AS BEING A NEGOTIABLE INSTRUMENT BUT BANK DOESN'T ALLOW THIS AS IT WILL RESULT IN BREACH OF
1. BANKING REGULATIONS ACT
2. RBI ACT
THEREFORE, PRACTICALLY IT CANNOT BE ENDORSED TO ANY OTHER PERSON.
Recent Topics :
- Query on FLAIR return
- Itr 4 problem
- Capital Gains Mismatch Due to Sale Agreement in FY
- REGARDING NRO INVESTMENT IN SHARES OF DOMESTIC COM
- DTAA benefits
- SUPPLEMENTARY AGREEMENT FOR ADDING A PARTER IN TN
- Part availmement of ITC in case of rejection of su
- Due date for itr 5 no audit with loss for fy 25 26
- Capital Gains Mismatch AIS
- Inward E-way bill from Tally Prime 7.1
Related Topics :
CAclubindia
