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of <h1>New Income Tax Bill: Clause 186 requires transactions over two lakh rupees to use specific electronic payment methods.</h1> Clause 186 of the Income Tax Bill, 2025, mandates that transactions involving receipts of two lakh rupees or more must be conducted via account payee cheque, bank draft, electronic clearing system, or other prescribed electronic modes. Exceptions to this requirement include receipts by the government, banking institutions, post office savings banks, co-operative banks, transactions specified in section 185, and other notified persons or receipts by the Central Government.
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