Crossed Cheque is now account payee cheque

By Vijay Kumar

Rule 6 DD of the Income Tax Rules deals with Cases and circumstances in which payment in a sum exceeding twenty thousand rupees may be made otherwise than by a crossed cheque drawn on a bank or by a crossed bank draft. This has now become "an account payee cheque drawn on a bank or account payee bank draft"

NOTIFICATION NO. 314/2006, Dated: November 9, 2006