Hello Everyone,
I am doing a online business of india ethnic garment...i have a two types client most and i have some doubt on my mind reg. how to saw that payment in my current account statement while my account go for a auditing as my turn over is enough good for a auditing...
(1) one from india, who don’t have any registered business but purchase product from me and sale with in his society or friend group and make a cash payment to my company current account (some time payment are in 50000 to 90000 but most of time its below 35000) - so here my doubt is how much cash i can received in my bank per year..If i received much amount per year than also my current account are able to pass in auditing..Or if i get much payment as cash is create many problem in auditing.
(2) Another client from abroad who don’t have any business registration or import licenses there but they send a payment to us via western union or foreign third part exchange to our current bank account - now my doubt is if i received a payment via western union or third party foreign exchange to my current account from abroad than it ok or create a any problem while auditing...also if anyone know the rules of receiving payment from abroad in to current account share with me..it will be a great help...Thnx!!!
