New Functionality in Income Tax Portal for complying with section 269SU
In order to comply with Section 269SU, Taxpayers with Turnover above INR 50 Crores have to report as to how/What prescribed mode of Electronic Acceptance of Payment they have made available to their Customers out of below 3 methods [in addition to all other electronic modes of payment, being presently provided ]
■ Rupay Debit Card;
■ BHIM-UPI;
■ UPI QR Code.
The link for the compliance is
> Under Compliance > namely “Prescribed Payment Modes”
It may be noted that 31.01.2020 is last date to reply after that there is penalty of Rs.5000/- per day.
