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Distributor Can Receive Payment From Buyer In Own Bank Account
23-Aug-2023 (In Corporate Law)
In corona pendamic period received from my buyer online payment in my own account and the same transfer in the saller account and direct invoice in the name buyer .Please suggested me the process of transaction is legal ?
Yes it is legal there is no problem in receiving money in your own account and transferring the amount to the company later on if you are the distributor of that company.
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Adv. Rishi Didwania
Delhi | 25+ Answers
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Dear sir your question is not clear. Kindly rephrase your question so that we can assist you. However it seems that if you have received payment from your customer directly into your bank account which was required to have been directly received by the distributor then it's wrong and you should refund the amount to the buyer and ask him to directly deposit in to the distributor's account. Otherwise, you can also take an acknowledgement from the buyer that due to so and so reason he could not able to make payment to distributor's account and you directly received amount on behalf of the distributor.
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Adv. Amar Kumar
Delhi | 25+ Answers
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