What is Date of payment
It is Date of Receipt of Amount in Bank Account
Or
Date of Debit by Recipient (Person Receiving Payment)
Whichever is earlier
Q1
Suppose payment made by cheque on 10 April by Y to X
It is Cleared on 13 April
On 10 April, X. Passes Entry
Bank A/C Dr
To Y
However, as per bank statement, Amount will be received on 13 April
What is Date of payment
| PARTICULARS | DATE |
| Date of Receipt of Amount in Bank Account | |
| Date of Debit by Recipient (Person Receiving Payment) | |
| DATE OF PAYMENT (EARLIER OR 2_) |
ANSWER
| PARTICULARS | DATE |
| Date of Receipt of Amount in Bank Account | 13-Apr |
| Date of Debit by Recipient (Person Receiving Payment) | 10-Apr |
| DATE OF PAYMENT (EARLIER OR 2_) | 10-Apr |
Q2
Suppose payment made by cheque dated 18 Aug by Y to X
Cheque is Received by X on 19 Aug
It is Cleared on 21 Aug
On 19 Aug, X. Passes Entry
Bank A/C Dr
To Y
However, as per bank statement, Amount will be received on 21 Aug
What is Date of payment
| PARTICULARS | DATE |
| Date of Receipt of Amount in Bank Account | |
| Date of Debit by Recipient (Person Receiving Payment) | |
| DATE OF PAYMENT (EARLIER OR 2_) |
ANSWER
| PARTICULARS | DATE |
| Date of Receipt of Amount in Bank Account | 21-Aug |
| Date of Debit by Recipient (Person Receiving Payment) | 19-Aug |
| DATE OF PAYMENT (EARLIER OR 2_) | 19-Aug |
Q3
Amount deposited by Y in X Bank Account on 20 May
X came to know about it only on 31 May
What is Date of payment
| PARTICULARS | DATE |
| Date of Receipt of Amount in Bank Account | |
| Date of Debit by Recipient (Person Receiving Payment) | |
| DATE OF PAYMENT (EARLIER OR 2_) |
ANSWER
| PARTICULARS | DATE |
| Date of Receipt of Amount in Bank Account | 20-May |
| Date of Debit by Recipient (Person Receiving Payment) | 31-May |
| DATE OF PAYMENT (EARLIER OR 2_) | 20-May |
Q4
Online Service Provided on 18 Aug for Rs 10000
Customer made payment by Debit Card via payment gateway CC Avenue
CC Avenue deducted 200 charges and paid 9800 to us on 31 AUG
| PARTICULARS | DATE |
| Date of Receipt of Amount in Bank Account | |
| Date of Debit by Recipient (Person Receiving Payment) | |
| DATE OF PAYMENT (EARLIER OR 2_) |
ANSWER
| PARTICULARS | DATE |
| Date of Receipt of Amount in Bank Account | 31-Aug |
| Date of Debit by Recipient (Person Receiving Payment) | 18-Aug |
| DATE OF PAYMENT (EARLIER OR 2_) | 18-Aug |
