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of <h1>New Income Tax Bill Requires Large Businesses to Accept Digital Payments Under Clauses 64 & 187, Aligns with Section 269SU.</h1> The Income Tax Bill, 2025, introduces Clauses 64 and 187, mandating businesses with a turnover exceeding fifty crore rupees to accept payments through prescribed electronic modes. These clauses align with Section 269SU of the Income Tax Act, 1961, which has been in effect since 2019. The objective is to promote digital transactions, curb tax evasion, and enhance financial transparency. Businesses must invest in electronic payment infrastructure, aiding regulators in monitoring transactions and fostering a cashless economy. While the clauses share a common goal, differences in legislative context may lead to updated compliance requirements.
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