2 Cheques are dishonoured by the bank if there are insufficient funds, a signature mismatch, overwriting or a stale date.
3 Banks charge a penalty for bounced cheques.The fee varies from bank to bank and based on customer catergorisation within a bank.
4 A bounced cheque can adversely impact the defaulter's credit history and credit score.
5 The payee can take legal action against the issuer of the cheque for wilfully issuing an instrument that did not represent valid payment.
6 If the issued cheque is against a donation or gift, there is no valid consideration and therefore, no legal recourse is available if such cheques bounce.
Top 10 Tax Saving Mutual Funds to invest in India for 2016
Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
3. Franklin India TaxShield
4. ICICI Prudential Long Term Equity Fund
5. IDFC Tax Advantage (ELSS) Fund
6. Birla Sun Life Tax Relief 96
7. DSP BlackRock Tax Saver Fund
8. Reliance Tax Saver (ELSS) Fund
9. Religare Tax Plan
10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
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