What is the date of receiving money in case of cheque payments?

For a person like me following cash system of accounting, please advice me regarding what needs to be considered as the "date of receipt of money" in case of a payment which i received via cheque. See the case below:

 

Date of issue of cheque (by the issung company):01-03-2019

Date i received the cheque: 26-03-2019 (Citi bank cheque)

Date on which i presented the cheque at my branch (SBI): 30-03-2019

Date on which money gets credited in my account: 02-04-2019

 

Which amongst the above date is the date i have to show as the "date of receipt of money" when i am following a cash system of accounting?

Replies (5)
Date on which money gets credited in your account : 02-04-2019 i.e. considered the date of payment.
since money gets credited in 02.04 as chq was deposited on 30.03 so 30.03 us to be considered as receipt date since you are showing it in your books on 30.03

Date if receipt should be considered, as the receiver may take its own time to present it in Bank!!

There is no book.... I follow 44 ADA. I don't have any book. There will exist no record with me in future as to when I presented the cheque. My bank account will show a credit on 02-04-2019

If TDS deducted in March, better to credit the same in March itself.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared

Getmyca Consultant Pvt Ltd

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
18 September 2026
Accounts & Finance Specialist

ULTRA CHEMICAL WORKS

Thane

CA Final

View Details
Company
19 September 2026
CA/Semi-CA/BCom

Pravin Sarvaiya

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 07 September 2026
Article/ Paid Assistant

Murali and Sumeet Chartered Accountant

Bengaluru

CA Foundation

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details