cash sale or rec. by a private limited company

Hi dude,

Yes, it is possible.

I give the simple example with which I am familiar. One shop was there as a flagship store of 'John Players' - a renowned brand. That shop was incorporated under Company Act and it was a private limited company. Daily, there were cash sales and collection from debtors in cash.

this is in normal course of business i.e. against sale only and any deposit received from customer as deposit must be a/c payee chaeque or DD.