https://www.taxtmi.com/article/detailed?id=8603 The document urges adoption of a consolidated definition of approved modes of payment and receipt to include existing non-cash instruments and other electronic methods, coupled with identification and recordation requirements. It explains proposed amendments replacing references to payment "by bank account" with "bank account or through such other electronic mode as may be prescribed" across multiple income-tax provisions, thereby empowering the Board to notify additional electronic modes so that statutory conditions tied to specified non-cash payments will be satisfied when payments occur by prescribed electronic methods. en-us Wed, 10 Jul 2019 06:15:46 +0530 Wed, 10 Jul 2019 06:15:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8603 The document urges adoption of a consolidated definition of approved modes of payment and receipt to include existing non-cash instruments and other electronic methods, coupled with identification and recordation requirements. It explains proposed amendments replacing references to payment "by bank account" with "bank account or through such other electronic mode as may be prescribed" across multiple income-tax provisions, thereby empowering the Board to notify additional electronic modes so that statutory conditions tied to specified non-cash payments will be satisfied when payments occur by prescribed electronic methods. Articles Budget - Tax Proposals Wed, 10 Jul 2019 06:15:46 +0530 https://www.taxtmi.com/article/detailed?id=8603