Question
Deposit Receipt

Answer

  • A deposit Receipt is issued by the company to depositors.
  • Deposit Receipt is issued within twenty-one (21) days from the date of receipt of money or realization of cheque.
  • The receipt has to be signed by the officer duly authorized by the Board of Directors.
  • The Receipt contains the name and address of the depositor, amount of deposit, rate of interest payable, and date on which it is repayable.

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