My Quation is , that without bank balance can i give post dated cheques to registree of flat to builder please Explain and send the notification under the income tax act,
26 January 2016
One may issue post dated cheques according one's future financial projection. There is nothing to do with Income Tax. The objection if any, will have to one's banker who is issuing cheque. On return of the cheque, the banker may debit charges to one's account and one might face ligation under various laws including Negotiable Instruments Act.
CAclubindia
