Hi Everyone,
I want to know that if I acccept payment from third person on behalf of debtor than what compliance we need to follow? and which additional document we need to maintain?
Eg. Firm Name - A
Debt - B (amount 10000/)
third person - c
We accept payment from c On the behalf of B.
Thanks in Advance
Shan
Menu
Payment received from 3rd person other than debtors
Replies (2)
necessary book entries should be made between b and c or the receipt may be charged to tax as cash credit under section 68
What????
we are accepting by chaque not in cash.
blank chaque is given to b by c for 10K.
in that case.
Recent Topic
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
- ITR-2 Schedule CG: Indexation cost ignored for lan
- INCOME TAX NOTICE 143(2) - FY 2024-2025
- Unable pay Self Assessment Tax - Netbanking and De
- Section 192 2(b) entry in IT return ITR 1
- Rent from redevelopment property
- How to find FMV of inherited gold after selling it
- Happy CA Day!!
Related Topics
CAclubindia
