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In banking, post-dated cheque is a cheque written by the drawer (payer) for a date in the future.Whether a post-dated cheque may be cashed or deposited before the date written on it depends on the country.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.
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