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
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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.
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