With reference to a Garnishee Order, answer the following questions: I. What will happen if a...
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With reference to a Garnishee Order, answer the following questions: I. What will happen if a Garnishee Order and an Income Tax Attachment Order are received simultaneously on the same customer? II. Describe briefly whether Garnishee Order can attach undrawn or unutilized balance in an overdraft and/or cash credit account. III. The Garnishee is in possession of certain Fixed Deposits (FDs) of the Judgement Debtor. These FDs are offered to him as security against some loan. What will be the effect of the Garnishee Order on these FDs? With reference to a Garnishee Order, answer the following questions: I. What will happen if a Garnishee Order and an Income Tax Attachment Order are received simultaneously on the same customer? II. Describe briefly whether Garnishee Order can attach undrawn or unutilized balance in an overdraft and/or cash credit account. III. The Garnishee is in possession of certain Fixed Deposits (FDs) of the Judgement Debtor. These FDs are offered to him as security against some loan. What will be the effect of the Garnishee Order on these FDs?
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Related Book For
Accounting Texts and Cases
ISBN: 978-1259097126
13th edition
Authors: Robert Anthony, David Hawkins, Kenneth Merchant
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