DEAR ALL,
MY CLIENT IS A COURIER AGENT, HE DO CASH ON DELIVERY SERVICE FOR HIS COMPANY,
AMOUNT THOSE COLLECTED FOR COMPANY HE TRANSACT THROUGH HIS BANK ACCOUNT TO (TRANSFER/SEND)
IS IT THAT AMOUNT IS CONSIDERED HIS TURNOVER?
HE IS ONLY COMMISION AGENT. WHAT IS THE NATURE/MEANING OF THAT CASH ON DELIVERY AMOUNT COLLECTED AND DEPOSITED TO BANK ACCOUNT.
COZ , HE ASKING OVERDRAFT/TERMLOAN FROM A BANK.
PLEASE ADVISE.
His turnover is just commission received from the company. He is collecting agent for the COD.
Then, what is the status of that current account opened by the agent even though those amounts are not his own?
VIKAS VERMA & CO
New Delhi
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