Comparison of Section 187 "Acceptance of payment through prescribed electronic modes." between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)
4 September, 2025
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Electronic payment acceptance requirement mandates prescribed digital channels for businesses and professions exceeding the turnover threshold. The Act mandates that every person carrying on business or profession whose total sales, turnover or gross receipts exceed the turnover threshold in the ... Summary
Electronic payment acceptance requirement mandates prescribed digital channels for businesses and professions exceeding the turnover threshold.
The Act mandates that every person carrying on business or profession whose total sales, turnover or gross receipts exceed the turnover threshold in the immediately preceding tax year shall provide facilities to accept payments through prescribed electronic modes in addition to any other electronic modes offered, with specific modes and operational details to be specified by subordinate legislation.
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