Receiving payment as cash

This query is : Resolved

kiran (Querist)
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16 November 2016 We are a Private Limited company based at New Delhi. We manufacture and sell Diagnostics Kits all over India to our dealers and distributors. We are a full Tax compliant company in paying all our taxes and returns on time as on date.
We are receiving several queries from our dealers that whether they can deposit the outstanding payment in our company current bank account in cash or not? Against the sale invoices punched in their company name from April 2016 till date.
what is needed from our side and dealers side in terms of relevant documentation to execute such transactions in full compliance?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 November 2016 They can't remit old currency 500 and 1000 notes in your current ac after 8th November.

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Receiving payment as cash

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