Sales receipt in partners personal account

This query is : Resolved 
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This discussion addresses the complexities of sales receipts being paid into a partner's personal account rather than the firm's. It questions how invoices are raised to buyers for payments made to individuals and explores the relevant income tax clauses. Furthermore, it delves into the accounting treatment for firms when they haven't received payment directly into their own bank account, impacting debtor crediting.

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(Querist)
03 December 2022 We can take Sales receipt in Partners personal account
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
03 December 2022 How the buyer would pay amount to any personal/individual's name when the invoice is raised by a firm?
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syed taherali

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syed taherali (Querist)
03 December 2022 ANY CLAUSE AS PER INCOME TAX
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
03 December 2022 How the firm will credit the debtor when it has not received the payment in its own account?
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