ChequeMan Blog

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Tender Date or Clearance Date of Cheques in PPF

Suppose a Cheque is deposited in PPF on 29th March 2013 and it got cleared on 1st April 2013 then according to the Govt. Tax Deposit Rule, where if the tax is deposited within the due date by cheque but it got cleared after the due date then the cheque’s tender date will be taken as the deposit receipt  date.  This means then the tax will be deducted in the financial year 2012-13 under section 80C.

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