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

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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

Ganeshbabu K (Expert)
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23 August 2013 1)Dear tushar,,Cheque validity was 3 months only,,,it was revised by rbi .

kindly refer

http://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

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