Stale heque

This query is : Resolved

ANUBHAV (Querist)
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11 January 2012 PRESENTLY WE ARE PASSING ENTRY IN STALE
CHEQUE AFTER 6 MONTHS FROM DATE OF ISSUE.
ACCORDING TO RBI NOTIFICATION CHEQUE VALIDITY IS NOW 3 MONTH WEF FROM 01.04.2011.

KINDLY ADVISE NOW THE ENTRY IN STALE CHEQUE WILL BE PASSED AFTER THREE MONTHS OF ISSUING CHEQUE.

ON 01.4.2012, CHEQUES NOT PRESENTED UPTO 31.12.2011 WILL BE TFD TO STALE CHEQUE ACCOUNT ?

Mahesh Paryani

Mahesh Paryani (Expert)
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11 January 2012 Dear Sir

The entries which you make after 6 month will now be made after 3 months.

It would be much better if you credit or debit (as the case may be) to the party account directly instead of stale cheque account.

Regards