post dated cheques
This query is : Resolved
01 July 2008
hi,
can u tell me what are the consequences of issuing post dated cheques.. which s accepted by the company from its customers.. also pls clarify from audit point of view..
can u tell me what are the consequences of issuing post dated cheques.. which s accepted by the company from its customers.. also pls clarify from audit point of view..
01 July 2008
Consequences for whom?
03 July 2008
Treatment depends upon the type of Customer. If the company have regular transactions with the concerned customer then there will be no seperate disclosure or other requirement. Just the party ledger' ll be credited by debiting the Cheque in Hand Account.
However if the customer was classified as debtors without raising any bill then same may be taken as Advances from parties.
However if the customer was classified as debtors without raising any bill then same may be taken as Advances from parties.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- NRI starting business in India
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Resigning a auditor from the company for misconduct
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- EXPORT COMMERCIAL INVOICE HSN CODE
- Capital gain on sale and purchase of plot
- Form 140 tds
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
