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of <h1>Businesses with Rs. 50 crore turnover must accept electronic payments under Income Tax Bill Clause 187</h1> Clause 187 of the Income Tax Bill, 2025 mandates businesses with sales, turnover, or gross receipts exceeding Rs. 50 crore in the preceding tax year to provide facilities for accepting payments through prescribed electronic modes. This provision succeeds Section 269SU of the Income Tax Act, 1961, maintaining similar language and structure while promoting digital payments and reducing cash transactions. The clause requires businesses to offer prescribed electronic payment options in addition to any existing electronic modes, with specific modes to be determined through subordinate legislation. The measure aims to enhance transparency, combat tax evasion, and support domestic payment systems like RuPay and BHIM-UPI, continuing the government's push toward a digital economy.
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