Penalty on cheque dishonour

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69 Points Posted on 21 September 2022
Is penalty applicable on dishonour cheque?what is the rate of penalty in such cases.
Arvind kumar
varanasi
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On 21 September 2022 at 19:36 Report
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Quick Summary
A dishonoured cheque can indeed incur penalties. The specific rate for such penalties can be obtained by contacting your bank branch. Furthermore, dishonouring a cheque can lead to criminal liability under Section 138 of the Negotiable Instruments Act (NI Act).

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GST Practitioner & Accounts
15146 Points Posted on 21 September 2022
Yes, penalty applicable is for dishonour of cheque, for latest rate you Can contact to your Bank branch.
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On 21 September 2022 at 20:19
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2 Points Posted on 21 September 2022
It also attract indian penal code for criminal liability
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On 21 September 2022 at 20:46
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internal auditor
28 Points Posted on 23 September 2022
Yes Section 138 of NI Act,
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On 23 September 2022 at 20:16

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