In Form C under CGAS can the 1st withdrawal (i.e. without Form D) through Pay Order/Demand Draft:
(i) can bank issue more than one, i.e. multiple Pay Orders/Demand Drafts? is it allowed?
(ii) PO/DD be made/issued in favour of the depositor himself? then the depositor can encash/deposit the PO/DD in his SB A/c and make payments to multiple parties/sellers/joint owners of a flat/house through cheques?
(iii) POs/DDs be made/issued directly in favour of multiple parties/sellers/joint owners of a flat/house?
I ask because, an apartment/house has multiple sellers, say 7 sellers.
Stamp duty and registration also need to be paid beforehand and that too mandatorily online (no other form of payment accepted).
How to withdraw, in one go, in the 1st withdrawal itself (i.e. without Form D) using Form C under CGAS so that the payment towards Stamp Duty, Registration and payment to the 7 sellers can be made?
Will the bank issue multiple Pay Orders/Demand Drafts? as Form C shows option to issue only 1 (one) PO/DD to only 1 (one) party?
CAclubindia
