S.RAM (FINAL STUDENT) (126 Points)
22 August 2009hi friends, i have a query regarding procedural aspect of payment of stipend.
IS IT MANDATORY TO OPEN BANK ACCOUNT?
IF YES ,IS IT IN ANY BANK LIKE PVT BANKS YES BANK/ HDFC... OR ONLY IN NATIONALISED BANKS?
WHILE FILLING UP FORM 108 CAN WE KEEP BLANK THE BANK ACCOUNT NO DETAILS IF THE STIPEND PAID IN CASH?
PLEASE RESPOND.
THANK U.
varun
(CA (FINAL), M.com)
(163 Points)
Replied 22 August 2009
yes , it is mandatory to have a bank account......!!!
it can be any bank...as it does.nt matter whatever the name of the bank may be!!!!
CA. Megha Topiwala
(Job)
(1534 Points)
Replied 22 August 2009
it is compulsory 2 get stipend by cheque only.... bank doesn't matter.....
Lakshmikant
(CA pcc student)
(521 Points)
Replied 22 August 2009
you will not get paid stipend by cash it gets paid only by cheque
G.R.KRITHIKA
(ARTICLES)
(357 Points)
Replied 25 August 2009
ITS COMPULSORY TO GET THE STIPENDS IN CHEQUE - BUT NOT REQUIRED TO MENTION IN 120 THE BANK A/C AND ALL
santhosh
(Student)
(1174 Points)
Replied 27 August 2009
not mandatory to get cheque only.... it may be depositing in the students bank account.... usually CA needs to start bank account where they have.... it's for saving cheque leaf and giving standing instruction to banks....
CAclubindia
