Stipend.....

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C.A. M.Com. Suhas A. Nagpure

C.A. M.Com. Suhas A. Nagpure (Querist)
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25 April 2009 Can we accept stipend in Cash?

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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25 April 2009 Yes. You can accept but if any dispute arises between you and your principal at that time this cash vouchers will not help you. If it is through account payee check you can show that for reconciliation. In the normal course you can accept the stipend in cash.

CA.Tarun Maheshwari

CA.Tarun Maheshwari (Expert)
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25 April 2009 No. Stipend must be given by Account payess cheque or must be deposited by employer into the bank account of article. Even at the time of filing training completion form, declaration to this effect is given by the employer.

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CMA KNVV Sri Vidya - Sri Kanth

CMA KNVV Sri Vidya - Sri Kanth (Expert)
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26 April 2009 NO

Taranjit Singh

Taranjit Singh (Expert)
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26 April 2009 The stipend under this regulation shall be paid by the principal to the articled clerk either (a) by a crossed account payee cheque every month against a stamped receipt to be obtained from the articled clerk; or (b) by depositing the amount every month in an account opened by the articled clerk in his own name with a branch of the bank to be specified by the principal.

C.A. M.Com. Suhas A. Nagpure

C.A. M.Com. Suhas A. Nagpure (Querist)
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27 April 2009 Hey

can any1 tell me can I accept cash or not.

Guest

Guest (Expert)

28 April 2009 Officially not. As per Institute Rules, u can accept stipend either by a crossed cheque or directly depositing into your account by principal.