Unclaimed cheque
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2013
In our company we issue cheque for supplying medicine,but the cheque is not cleared still date (23/8/13),more than 7 month,how can i account that. shall i transfer to misc income
23 August 2013
As per new rules set by rbi a cheque or demand draft is valid for only 6 month from its date of issue afterwards it cannot be encashed.
Ganeshbabu K
(Expert)
23 August 2013
1)Dear tushar,,Cheque validity was 3 months only,,,it was revised by rbi .
kindly refer
https://www.newindiabank.in/pdf/rbi_cheque_validity.pdf
2)dear author in your case you need to pass a reverse entry which you have passed at the time of payment of cheque
kindly refer
https://www.newindiabank.in/pdf/rbi_cheque_validity.pdf
2)dear author in your case you need to pass a reverse entry which you have passed at the time of payment of cheque
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- Advances to related party
- LLP audit and disclosure
- Form 144 TDS Return Validation error
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation Error – Mandatory Fields
- GSTR9 Annual Return
- Applicability of tax on invoice
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
