269SU: Mandatory facilitating of accepting payments through electronic modes


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This document provides crucial clarifications on Section 269SU of the Income-tax Act, 1961, concerning mandatory acceptance of payments through electronic modes. It explains that businesses with only Business-to-Business (B2B) transactions, where at least 95% of receipts are non-cash, are exempt from this mandate. This is particularly useful for B2B enterprises seeking clarity on payment regulations.

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CBDT issues clarification with respect to the prescribed electronic modes under section 269SU of the Income-tax Act, 1961 vide Circular No.12/2020 dated 20th May, 2020. #pdf
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