Banking
This query is : Resolved
29 August 2011
If a cheque is issued in favour of xyz pvt ltd but not crossed and no account payee cheque. then company can get counter payment or not ?? If no then why and if yes then how??
29 August 2011
Yes the bearer can withdraw the payment on the bank counter because Negotiable Instrument Act 1881 tell that there are two types of cheque- crossed cheque and bearer cheque. crossed cheque payment will made on the account only. bt bearer cheque payment can made through account or auto represent.
29 August 2011
Yes I agree with the expert
29 August 2011
Is company ID required ? Who can get it on behalf of company?? Is any resolution required ?? Or any director or authorised person can withdraw it ?
31 August 2011
Dear Jha,
If the bank account already opened by the Pvt co., there is no need for further resolution to deposit or withdraw the money from the bank account. While opening a bank account the company authorize a person to do all things relating to deposit or withdraw the money. While withdrawn of money the authorised director or person is entitled to get the money.
If the bank account already opened by the Pvt co., there is no need for further resolution to deposit or withdraw the money from the bank account. While opening a bank account the company authorize a person to do all things relating to deposit or withdraw the money. While withdrawn of money the authorised director or person is entitled to get the money.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- RCM INVOICING FROM NOV-2024
- Event company query
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
Trending Online Classes
CAclubindia
