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An IT Attachment Order is received for Rs 20,000, account has Rs 10,000, later Rs 15,000 credited.

AOnly Rs 10,000 is to be attached

BRs 20,000 to be attached including the subsequent credit

CRs 25,000 to be attached

DNone of the above

Answer:

B. Rs 20,000 to be attached including the subsequent credit

Read Explanation:

Banks must attach the amount specified in IT attachment order, including subsequent credits until the full demand is met.


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Which one of the following is not a prohibition towards a banking company, under BR Act ?

  1. No banking company shall create any charge upon any unpaid capital of the company and any such charge shall be invalid.
  2. No banking company shall create floating charge on the undertaking or the property of the company, if such a floating charge is created, only with the written permission of the RBI.
  3. No banking company shall pay any dividend to its shares until all capitalised expenses have been completely written of.
  4. No banking company incorporated in India shall have a director in its board of directors, who is a director of any other bank.
  5. No banking company may pay dividend without writing of depreciation in the value of investment of approved securities, shares, debentures, bonds, write off bad debts if any.