my client is sub distributor of hero moto two wheels dealer my client is sale bike and receive cash from customer and this bike bill issued from dealer to customer
dealer say to my sub distribute that thay received cash behalf of this bike can deposit his own account and tranfer via bank or cheque
dealer given commission for bike on sale
my question is it is legal that we collect cash and deposit in owen account and tranfer amount via cheque or online tranfer to dealers account
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Cash received behalf of other company
Replies (2)
Yes
You can
You can
Yes, this is legal because my client is BCA (Business Correspondence Agent) in a Bank and he operate Business Customers current accounts in his own name on Companies behalf. For which he receives Commission.
But ensure one thing very clear that these transactions will show his Form-26AS (SFT -3). SFT needs to answer on Compliance Portal at Income Tax Website.
But ensure one thing very clear that these transactions will show his Form-26AS (SFT -3). SFT needs to answer on Compliance Portal at Income Tax Website.
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