Electronic payment modes expand permitted payment under the income-tax provision by adding prescribed electronic methods alongside bank accounts. Amendment substitutes the words "bank account" in clause (1), second proviso of section 43 with "bank account or through such other electronic mode as may ... Summary
Electronic payment modes expand permitted payment under the income-tax provision by adding prescribed electronic methods alongside bank accounts.
Amendment substitutes the words "bank account" in clause (1), second proviso of section 43 with "bank account or through such other electronic mode as may be prescribed," broadening permissible payment channels to include prescribed electronic modes alongside bank accounts, effected by the Finance (No. 2) Act, 2019 and given an effective commencement date.
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