Account payee
This query is : Resolved
09 November 2011
what is account payee cheque?is it dealt in the negotiable instruments act,1881?could you kindly give a simple example?
09 November 2011
In the negotiable instruments cheque has been defined as a negotiable instrument win which drawee is always a Banker.
Account Payee cheque is a Crossed Cheque.
on the left upper corner of the cheque 2 transverse parallel lines are drawn and in between the lines "Payees A/c only" or "A/c Payee only" may be written.
By writing so, the bankers will credit the amount to the A/c of the person in whose name the cheque has been drawn by the drawer. It is the safest mode of payment.
If you want to know about all these-
Pl follow the link
http://www.nos.org/Secbuscour/17.pdf
Account Payee cheque is a Crossed Cheque.
on the left upper corner of the cheque 2 transverse parallel lines are drawn and in between the lines "Payees A/c only" or "A/c Payee only" may be written.
By writing so, the bankers will credit the amount to the A/c of the person in whose name the cheque has been drawn by the drawer. It is the safest mode of payment.
If you want to know about all these-
Pl follow the link
http://www.nos.org/Secbuscour/17.pdf
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
- Filing d ITR by registered legal heir
- Tax implications of gift to maternal uncle
- Closure of a PVT LTD company
- 26QB correction - no data available error for fully consumed/processed with default
- ROC filings for the first year of incorporation
- Real estate business by a partnership firm where both of the partners are SC/ST
- Short term capital gain Section 87A
- TDS on Purchase of Immovable Property in case of Co Owner
- When I Login E-invoice portal with waybill user id and pw, it is showing 3011 error data
- How to open attachment in 23ac xbrl
- Input Tax Credit Puf panels
- Unable to convert User role from Registered user to Business user on MCA V3 portal
- Please help with SAC Codes (6 digits) for below mentioned services provided by Chartered Accountant
- Need to send letter to GST dept. For claimed missed ITC
- Printing Press under Composition Scheme
- 140-A Tax Wrongly Paid PAN No
- CSR funding for private limited companies
- SAC codes for Chartered Accountant
- Professional tax deduction monthly
- Cross charges verses Isd methof
CAclubindia
