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of <h1>Businesses with Over Rs. 50 Crore Turnover Must Offer RuPay, UPI Payment Options per Section 269SU Amendment.</h1> The Income-tax (16th Amendment) Rules, 2019, effective from January 1, 2020, require businesses with sales, turnover, or gross receipts exceeding fifty crore rupees in the previous year to provide payment facilities through specific electronic modes. These modes include Debit Card powered by RuPay, Unified Payments Interface (UPI) (BHIM-UPI), and Unified Payments Interface Quick Response Code (UPI QR Code) (BHIM-UPI QR Code). This amendment, issued by the Central Board of Direct Taxes, supplements existing electronic payment options under section 269SU of the Income-tax Act, 1961.
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