payee meaning in tamil
payee meaning in tamil with example
payee tamil meaning and more example for payee will be given in tamil.
The Reserve Bank of India RBI on Monday directed banks that they should not collect account payee cheques for any person other than the payee constituent. It was observed that despite extant instructions banks had credited the proceeds of individual account payee refund orders into the accounts of the brokers instead of to the individual accounts on the request of the associates of DP providers. This manipulation would not have taken place but for the banks deviating from the procedure for collection of account payee cheques. The payee has to inform this number with his identity in the nearest instant money order service centre a release from the PostmasterGeneral Central Region Tamil Nadu issued here on Friday said. The payee has to produce any one of the following in the IMO Centre for his identity electoral card PAN card ration card postal identity card driving licence passport. The payee can collect the money from any iMO centre by presenting the 16digit iMO number and any one of the following documents with photo Electors Photo Identity Card PAN card ration card post office identity card driving licence and passport. The practice pointed out by the reader is probably because of a wrong understanding by the disbursing officer that such direct payment by the payee would avoid responsibility of deducting tax on his part at the time of payment filing necessary returns and issuing TDS certificates. Five months had passed since the money order was sent and the payee who was in Ambattur came to Madurai recently but the whereabouts of the amount are not known.