SECTION 269 SU

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This discussion clarifies whether a business with a turnover exceeding ₹100 crore in FY 2018-19 can accept payments via cheque under Section 269SU. The advice given is that cheque payments are permissible, provided the business has the necessary electronic funds transfer facilities in place.

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(Querist)
28 January 2020 Can we accept the payment through Cheque . our turnover is more than 100 CR in FY 2018-19. Please advise.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
28 January 2020 Yes you can accept the payment through cheque but you should have the facility provided through electronic funds transfer.
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Amol S Joglekar

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Amol S Joglekar (Expert)
29 January 2020 You can accept the payment through cheque
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