Can I receive business payment in my Savings bank a/c

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Prakhar (Querist)
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06 July 2022 I am sole proprietor of my firm.
I don't have upi enabled in my current account .
That is why some of my customers(due to ease) directly deposit business payment into my Saving bank a/c via UPI transactions.

Is accepting such business payment in saving bank a/c legal and allowed?

If yes,is there any limit upto how much amount of such business UPI payments can I accept ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 July 2022 Yes, you can accept some payments. No limits.

CA Puja Sharma

CA Puja Sharma (Expert)
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07 July 2022 Yes, you can accept the payment in a saving bank account. Kindly account for those receipts in your business books.

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