Continuing with the previous
example, when payment
is received by cheque on 26.05.2017 and entered in books of account on same day.
But cheque actually credited in Bank Account on 09.06.2017. What will be the
date of payment in the case when change of tax rate taken Place.
Date of payment – 9.06.2017
Because cheque is credited in
bank account after 4 working days from 1.06.2017( date of change in rate).