https://www.taxtmi.com/acts?id=49961 Section 269T mandates that companies, co-operative societies and firms must repay qualifying deposits by account payee cheque or account payee bank draft, with banking companies and co-operative banks permitted to credit the payee's account instead. Subsection (2) applies the same requirement to branches and to repayments where either a single deposit with interest or the aggregate deposits held by a person with that branch or entity (including joint holdings) meets the statutory threshold. The section contains provisos linked to the Act's presidential assent and explanatory definitions of banking company and deposit. en-us Sat, 01 Mar 2025 13:39:05 +0530 Sat, 01 Mar 2025 13:39:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49961 Section 269T mandates that companies, co-operative societies and firms must repay qualifying deposits by account payee cheque or account payee bank draft, with banking companies and co-operative banks permitted to credit the payee's account instead. Subsection (2) applies the same requirement to branches and to repayments where either a single deposit with interest or the aggregate deposits held by a person with that branch or entity (including joint holdings) meets the statutory threshold. The section contains provisos linked to the Act's presidential assent and explanatory definitions of banking company and deposit. Act-Rules F. Acts / Amendment Acts Sat, 01 Mar 2025 13:39:05 +0530 https://www.taxtmi.com/acts?id=49961