Taxcharcha
Income TaxIncome TaxLatest

Rupay enabled Debit card and UPI notified as prescribed mode of payment under section 269SU

Notification no.105/2019

With effect from 1st January 2020, every person carrying on business, if his total sales, turnover or gross receipts, as the case may be, in business exceeds Rs. 50 crores during the immediately preceding previous year shall provide facility for accepting the payment through the following additional modes of payment:-

a. Debit card powered by Rupay

b. Unified Payment Interface (UPI) (BHIM-UPI) and

c. Unified Payment Interface Quick Response Code (UPI QR code) (BHIM UPI QR Code)

The following amendment has been introduced by inserting Rule 119AA of Income Tax Rules 1962 vide Notification no. 105/2019 dated 30th December 2019.

To view and download the notification, click here Notification 105-2019

Related posts

Notification No. 01/2019-Union Territory tax(rate), dt. 29-01-2019 – Seeks to rescind notification No. 8/2017-Union Territory Tax (Rate) dated 28.06.2017 in view of bringing into effect the amendments (regarding RCM on supplies by unregistered persons) in the GST Acts

Team Taxcharcha

Notification no. 29/2019-Central tax – Due date of GSTR 3B for July – September 2019 is 20th of the following mont

Team Taxcharcha

Extension of compliances falling between 15-04-2021 to 30-05-2021 till 31-05-2021

Team Taxcharcha