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Because I make most payments (like my mortgage) online, it’s not too often that I bust out the checkbook.
For instance, if you’ll be out of town when rent is due, but don’t have the funds to pay rent early, you might postdate your check.
The courts considered under the Negotiable Instruments Act, 1881. In 1998, the Supreme Court ruled that a post-dated cheque is a bill of exchange and does not become payable on demand until the date written on the cheque: If a post dated cheque is a bill of exchange which is not payable on demand how the stamp duty will be calculated on such a bill of exchange.
There is no exemption from payment of stamp duty on a bill of exchange if it is a cheque.
If a Canadian financial institution inadvertently accepts and processes a cheque before the due date, the cheque writer may ask his or her financial institution to return the amount until the day before the cheque should have been cashed. Section 68 of Indian Stamp Act declares that a person who draws a post dated cheque and the person who presents a post dated cheque for payment will be liable to be fined Rs. The definition of a cheque in Negotiable instrument act as well as in Negotiable Instruments Act is - that a cheque is always made payable on demand.
It is not difficult to understand that a post dated cheque is not payable on demand.