cash sale or rec. by a private limited company

my query is :-

 

1. Can a private limited company can rec. cash from his sundry debotrs.  (the cash amount is less than 20000)

2. can a company made cash sale

 

Replies (2)

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. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register