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<h1>Mode of payment restrictions require non cash settlement for large receipts, permitting cheques, bank drafts, or electronic transfers.</h1> Prohibits receipt of amounts at or above the statute's specified monetary threshold in a day, a single transaction, or related to one event or occasion from a person unless paid by account payee cheque, account payee bank draft, electronic clearing through a bank account, or any other prescribed electronic mode; exemptions include receipts by Government, specified banking institutions, transactions covered elsewhere in the statute, and other persons or receipts as may be notified by the Central Government.
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