TaxTMI 
TaxTMI 
Restriction of issue of Bearer Cheque
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....estriction of issue of Bearer Cheque<br> Query (Issue) Started By: - Pandurang Nirmal Dated:- 13-11-2011 Last Reply Date:- 23-10-2013 Corporate Laws / SEBI / LLP<br>Got 3 Replies<br>Companies Law<br>P....
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....l.tell us whether an incorporated company can freequently issue bearer cheques to its clients and employees and workers?What are restrictions on issuing bearer cheques as per company law and other law....
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....s inforce in our country? Reply By Raja Rajan: The Reply: As per the Sec. 40A of Income Tax Act, 1961 "Where the assessee incurs any expenditure in respect of which a payment or aggregate of paymen....
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....ts made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft, exceeds twenty thousand rupees, no deduction shall be allowed in respect of such ex....
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....penditure" [ In certain cases it is Rs. 25000/- to a person in a day] Reply By tarsem gupta: The Reply: Reply of Raja Rajan is correct. Reply By vinod bhat: The Reply: please tell issue bearer che....
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....ques issued by compnies<br> Discussion Forum - Knowledge Sharing ....