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‘Debit card powered by RuPay’ and ‘UPI’ notified as prescribed mode of payments for the purpose of section 269SU

December 31, 2019
Section 269SU mandates a person to accept payments through prescribed electronic modes if his turnover during immediately preceding previous year exceeds Rs. 50 crores. Now, the CBDT has notified Debit card powered by Rupay, Unified Payments Interface (UPI) and Unified Payments Interface Quick Response Code as prescribed modes, in addition to the facility for other electronic modes of payment provided by such person
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