GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Payment of a coupon cannot be done upon a income opposite of bank if a coupon is-
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Cross
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Order
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Bearer
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All of these
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Explanation:
Detailed explanation-1: -The three most common types of payment in today’s market are credit cards, debit cards, and cash. Credit and debit card transactions involve fees paid by merchants to the card companies, but they tend to involve larger purchase amounts than cash transactions.
Detailed explanation-2: -Under Sec 269SS of the Income Tax Act, 1961, one cannot take a loan or pay more than Rs 20, 000 in cash. Any violation can invite a stiff penalty under Section 271D, which can be equal to the loan or deposit amount.
There is 1 question to complete.