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