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
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
