Electronic payment mode specification shifts to Central Government notification under the amended payment and settlement framework. Section 10A of the Payment and Settlement Systems Act, 2007 is amended to replace the reference to electronic payment modes prescribed under the ... Summary
Electronic payment mode specification shifts to Central Government notification under the amended payment and settlement framework.
Section 10A of the Payment and Settlement Systems Act, 2007 is amended to replace the reference to electronic payment modes prescribed under the Income-tax Act with a framework under which the Central Government may specify one or more electronic modes of payment by notification. The substitution takes effect from publication in the Official Gazette.
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