Receipt of payments from clients

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

28 May 2013 I am working for a company in service sector where a lot of clients pay for bills issued in name of client company through there personal accounts or accounts other than company accounts.

My query is; whether our company can receive the same through individuals/other accounts or insist on payment through company only in whose name bill is issued?

Are there any limitations under Income Tax Act 1961 or Companies Act 1956?

Querist : Anonymous

Querist : Anonymous (Querist)

03 June 2013 Dear Experts, awaiting reply to the above.