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of <h1>Businesses with over 50 crore turnover must offer specific electronic payment modes under Section 269SU of Income-tax Act.</h1> Section 269SU of the Income-tax Act mandates that any person conducting business with total sales, turnover, or gross receipts exceeding fifty crore rupees in the preceding year must offer payment acceptance through prescribed electronic modes. This requirement is in addition to any existing electronic payment facilities provided by the business. This provision was introduced as part of the Finance (No. 2) Act, 2019, and became effective on November 1, 2019.
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