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of <h1>Electronic Payment Modes Expanded in Income-tax Rules; Rule 6ABBA Introduced, Rule 6DD Revised for Higher Limits.</h1> The Income-tax (3rd Amendment) Rules, 2020, issued by the Central Board of Direct Taxes, amends the Income-tax Rules, 1962. Effective from September 1, 2019, the amendment introduces rule 6ABBA, specifying electronic payment modes such as credit cards, debit cards, net banking, IMPS, UPI, RTGS, NEFT, and BHIM Aadhar Pay for certain sections of the Income-tax Act, 1961. Additionally, rule 6DD is revised to allow payments exceeding ten thousand rupees through these electronic modes, replacing the previous twenty thousand rupees limit. The notification ensures no adverse effects from its retrospective application.
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