post dated cheques
This query is : Resolved
01 July 2008
hi,
can u tell me what are the consequences of issuing post dated cheques.. which s accepted by the company from its customers.. also pls clarify from audit point of view..
can u tell me what are the consequences of issuing post dated cheques.. which s accepted by the company from its customers.. also pls clarify from audit point of view..
01 July 2008
Consequences for whom?
03 July 2008
Treatment depends upon the type of Customer. If the company have regular transactions with the concerned customer then there will be no seperate disclosure or other requirement. Just the party ledger' ll be credited by debiting the Cheque in Hand Account.
However if the customer was classified as debtors without raising any bill then same may be taken as Advances from parties.
However if the customer was classified as debtors without raising any bill then same may be taken as Advances from parties.
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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
