Reply to Notice u/s 245, Intimations u/s 143(1), Rectification Applications u/s 154

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You use the correct form especially if you have exempt income like House Rent Allowance, Conveyance Allowance or any other exempt income of more than 5000.(for AY 2015-16 ie FY 2014-15)


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Friday, May 14, 2010

Cheques with alteration/corrections will not be honoured from 1st July 2010

RBI has issued RBI Circular dated 22nd February 2010 by virtue of which Banks are supposed to prohibit alterations / corrections on the cheque leaf.
Prohibiting alterations / corrections on cheques : No changes / corrections should be carried out on the cheques (other than for date validation purposes, if required). For any change in the payee’s name, courtesy amount (amount in figures) or legal amount (amount in words), etc., fresh cheque forms should be used by customers. This would help banks to identify and control fraudulent alterations.
The only alteration which is allowed is the alteration in the date.

New Clarification announced by the RBI on 24 June 2010.
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