Tuesday, 16 March 2010

CUTTING-ALTERATION-CORRECTION ON CHEQUE NOT ALLOWED-RBI

Recently RBI(Reserve Bank of India) has issued a notification .In this Notification RBI has released some new features to be added in Cheque leafs in 2010.Further RBI has also directed that there should be no cutting/correction/alteration in amount in Figures ,Amount in words ,or in Payee name or any where else on the cheque except on date and that is only for date validation(extension of cheque date) purpose.And if there is cutting /alteration in cheque other than date extension then cheque will be of no use.Customer has to issue fresh cheque if there is cutting in figure,words,payee name or bank account.

Key Takeaways from 27th GST Council Meeting

GST Council today in its 27 th meeting approved principles for filing of new return design based on the recommendations of the Group...