when a cheque is bounce...!! then what is time limit for issuing legal notice to party??tell me what is usally done in practical life.. if cheque of debtor bounch on 1.april2012...can i send legal notice from lawyer toay??
mannu (1/2 CA) (589 Points)
12 May 2012when a cheque is bounce...!! then what is time limit for issuing legal notice to party??tell me what is usally done in practical life.. if cheque of debtor bounch on 1.april2012...can i send legal notice from lawyer toay??
Joey Tribbiani
(fdg)
(2010 Points)
Replied 12 May 2012
limitation act specifies the limit to be 3 years
deepak
(Practicing Chartered Accountant)
(23 Points)
Replied 12 May 2012
Mannu,
You can fsend the notice now. else you can resubmit the check and get it bounced again and then send the notice
CA SURENDRA KUMAR RAKHECHA
(Practising CA at Surat)
(26263 Points)
Replied 02 August 2012
Now-a-days; a cheque is valid for 3 months from the date when it was issued.
.
In your case; now you can't deposit it again into your bank.
.
A dishonoured cheque must be NOTARISED within 15 days of its return.
.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
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