https://www.taxtmi.com/circulars?id=4746 The amendment mandates that repayments of term deposits and Special Bearer Bonds be made only by credit to the payee's account or by account payee cheque or account payee bank draft where prescribed thresholds and aggregate holding conditions are met, with defined exceptions for accounts maintained with the paying branch. Contravention without reasonable cause attracts imprisonment and a fine equal to the deposit; repeat convictions invoke enhanced custodial sentences and fines, and prosecutions may proceed only at the Commissioner's instance. en-us Mon, 28 Jun 1982 00:00:00 +0530 Sat, 02 Aug 2008 13:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4746 The amendment mandates that repayments of term deposits and Special Bearer Bonds be made only by credit to the payee's account or by account payee cheque or account payee bank draft where prescribed thresholds and aggregate holding conditions are met, with defined exceptions for accounts maintained with the paying branch. Contravention without reasonable cause attracts imprisonment and a fine equal to the deposit; repeat convictions invoke enhanced custodial sentences and fines, and prosecutions may proceed only at the Commissioner's instance. Circulars Income Tax Mon, 28 Jun 1982 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4746