• Home
  • About Us
    • Approach
    • Service Philosophy
    • Culture
  • Our Services
    • International Tax
    • Corporate Tax
    • Entry Level Strategy
    • Mergers & Acquisition
    • GST
    • Customs and Foreign Trade Policy
    • Litigation Support
    • Transfer Pricing
    • Indirect tax-Pre GST
    • Private Client & Family office
    • Global Mobility
    • Corporate Law & Secretarial Support
    • Corporate Financial Advisory
    • Risk Advisory
    • Personnel/Expatriate Tax
    • Corporate Governance
    • Emerging Laws
    • Government & Public Sector Advisory
    • Cyber Security
    • Forensic Advisory services
  • Our Team
  • Media
    • Articles In News Papers & Journals
    • Press Release
    • Events
    • Media Contact
  • Global Presence
  • International Business Desk
    • Japan Desk  ジャパンデスク
    • German Desk
    • China Desk
    • Korean Desk
  • Code of Ethics
    • Data Privacy Policy
    • Ethics Standards For Using of Firm IT & EC
    • CSR Policy
    • Policy on drug & Abuse
    • Sexual Harrasment
    • Risk Management
  • Insights
    • Communique: Your Transfer Pricing Tabloid
    • Newsletter
    • Newsflash
    • Budget statement
    • Useful forms
    • Doing business in india
    • Companies (significant beneficial owners) rules 2018
    • International Newsletters
  • Offices
  • Careers
    • Apply Online
    • Openings
  • Contact Us
Andersen Global

Worldwide Locations:

  • India
    • Brazil
    • Canada*
    • Chile
    • France
    • Germany
    • Guatemala
    • Ireland*
    • Italy
    • Luxembourg
    • Mexico
    • Netherlands
    • Panama
    • Poland
    • Russia
    • Spain
    • Switzerland
    • United States
  • EN
header-logo
A member firm of Andersen Global®
  • Home
  • About Us
    • Approach
    • Service Philosophy
    • Culture
  • Our Services
    • International Tax
    • Corporate Tax
    • Entry Level Strategy
    • Mergers & Acquisition
    • GST
    • Customs and Foreign Trade Policy
    • Litigation Support
    • Transfer Pricing
    • Indirect tax-Pre GST
    • Private Client & Family office
    • Global Mobility
    • Corporate Law & Secretarial Support
    • Corporate Financial Advisory
    • Risk Advisory
    • Personnel/Expatriate Tax
    • Corporate Governance
    • Emerging Laws
    • Government & Public Sector Advisory
    • Cyber Security
    • Forensic Advisory services
  • Our Team
  • Media
    • Articles In News Papers & Journals
    • Press Release
    • Events
    • Media Contact
  • Global Presence
  • International Business Desk
    • Japan Desk  ジャパンデスク
    • German Desk
    • China Desk
    • Korean Desk
  • Code of Ethics
    • Data Privacy Policy
    • Ethics Standards For Using of Firm IT & EC
    • CSR Policy
    • Policy on drug & Abuse
    • Sexual Harrasment
    • Risk Management
  • Insights
    • Communique: Your Transfer Pricing Tabloid
    • Newsletter
    • Newsflash
    • Budget statement
    • Useful forms
    • Doing business in india
    • Companies (significant beneficial owners) rules 2018
    • International Newsletters
  • Offices
  • Careers
    • Apply Online
    • Openings
  • Contact Us

Clarification in respect to transaction for 269SU – Exemption to B2B businesses from installing e-payment facilities

Greetings!

Today, the CBDT has issued a much awaited clarification in respect of prescribed electronic modes u/s. 269SU of the Income-tax Act, 1961. This section (read with earlier notification) required every person carrying on business and having sales/turnover/gross receipts from business of more than Rs 50 Crores (“specified person”) in the immediately preceding previous year to mandatorily provide facilities for accepting payments through prescribed electronic modes, namely:

a) Debit Card powered by RuPay;

b) Unified Payments Interface (UPI) (BHIM-UPI); and

c) Unified Payments Interface Quick Response Code (UPI QR Code) (BHIM-UPI QR Code)

It has now been clarified that the provisions of Sec. 269SU shall not be applicable to a specified person having only B2B transactions or substantially (minimum 95%) B2B transactions. Considering heavy penalty exposure of INR 5,000 per day for non-compliance, this clarification gives a much needed relief to taxpayers in B2B segment.

We are pleased to send you the copy of the NEWSFLASH on Clarification in respect to transaction for 269SU – Exemption to B2B businesses from installing e-payment facilities

Hope you find it useful and informative.

CBDT Issues clarification in respect of compliance of Section 269SU by businesses in B2B segment

Subscribe to our weekly newsletters

    SHARE:

  • Facebook
  • Twitter
  • LinkedIn
  • Email
  • Print
  • youtube
Social Links
  • Facebook
  • Twitter
  • LinkedIn
  • youTube
IMPORTANT LINKS
  • India budget statement
  • Newsflash
  • Offices
  • Media
  • Insights
Insights
  • Tax & regulatory newsletter
  • Newsflash
  • Doing business in India – simplified
  • Our Brochures
  • ISO Certificates
  • Whitepaper
SUPPORT
  • Income Tax Forms
  • Service Tax Forms
  • ROC Forms

©Andersen Tax LLC and Nangia Andersen India Pvt. Ltd. is the Indian member firm of Andersen Global, a Swiss verein comprised of legally separate, independent member firms located throughout the world providing services under their own name or the brand "Andersen Tax" or "Andersen Tax & Legal," or "Andersen Legal." Andersen Global does not provide any services and has no responsibility for any actions of the member firms, and the member firms have no responsibility for any actions of Andersen Global. Your use of this website is subject to the terms and conditions governing it. Please read these terms and conditions before using the website.

Terms & Conditions

Subscribe to Regular updates

Nangia Andersen India Pvt. Ltd.

Thank you for subscription

Terms & Conditions

The member firms of Andersen Global cannot obligate each other and are not liable for each other’s acts or omissions. Andersen Global does not provide any services.

$nbsp: