SECTION 269SU DETAILS REPORTING

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9 Points Joined May 2018

Procedures for filling  Section 269SU Details on the Income Tax Website During a Tax Audit Process.

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On 23 December 2024 at 15:37 Report
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Master in Accounts & high court Advocate
9066 Points Joined December 2011

To fill Section 269SU details on the Income Tax website during a tax audit process,

 follow these steps:

- *Login to the e-Filing Portal*: Log in to your account on the e-Filing portal (https://www.incometaxindiaefiling.gov.in/) using your User ID and password. -

 *Navigate to Compliance*: Click on the "Compliance" tab and select "Prescribed Payment Modes" from the drop-down menu. - *Submit Response*:

You will be asked to provide details about the prescribed electronic modes of payment you have made available to your customers.

Select the applicable options and submit your response. *Important Details to Keep in Mind*: -

*Eligibility*: Section 269SU applies to businesses with a turnover exceeding ₹50 crore in the preceding previous year.¹ -

 *Prescribed Electronic Modes*: The prescribed electronic modes of payment include Debit Card powered by RuPay,

Unified Payments Interface (UPI), and Unified Payments Interface Quick Response Code (UPI QR Code).² -

*Penalty for Non-Compliance*: Failure to comply with Section 269SU may result in a penalty of ₹5,000 per day.

³ Ensure you complete this process accurately and within the stipulated timeframe to avoid any penalties

. If you need further assistance or clarification, consider consulting a tax professional or chartered accountant.

1 Reply
On 23 December 2024 at 17:30
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9 Points Joined May 2018

I appreciate your response sir , but I was unable to locate the "Prescribed Payment Modes" option within the income tax website compliance section

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On 23 December 2024 at 19:17


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