SECTION 269SU COMPLIACES

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This discussion clarifies the mandatory requirements for businesses regarding Section 269SU of the Income Tax Act. It confirms that businesses receiving payments through banking channels must offer facilities for debit card (RuPay), UPI (BHIM-UPI), and UPI QR code payments. The compliance applies even if a business has only export sales and no domestic sales.

Arvind Gupta

Arvind Gupta (Querist)
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29 January 2020 RESPECTED MEMBERS,
I HAVE A QUERY REGARDING INCOME TAX COMPLIANCE U/S 269SU,
IF A FIRM MAKES EXPORTS AND DOMESTIC SALES AND THE PAYMENT RECEIVED THROUGH BANKING CHANNEL THEN IS IT MANDATORY TO PROVIDE FACILITY FOR ACCEPTING PAYMENT THROUGH THESE CHANNELS:
(i) Debit Card powered by RuPay;
(ii) Unified Payments Interface (UPI) (BHIM-UPI); and
(iii) Unified Payments Interface Quick Response Code (UPI QR Code) (BHIM-UPI QR Code).”.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 January 2020 Yes it's mandatory to provide such facility.

Arvind Gupta

Arvind Gupta (Querist)
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29 January 2020 SIR , IF WE HAVE ONLY EXPORT AND NOT ANY DOMESTIC SALE, THEN IS IT MANDATORY OR NOT ??
CAN YOU SEND ME ANY NOTIFICATION OR CIRCULAR REGARDING THIS??
PLEASE HELP.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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29 January 2020 Yes it's mandatory. See the link for more details.
https://cleartax.in/s/section-269su

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