Section 187 — Acceptance of payment through prescribed electronic modes

Old Act equivalent: Section 94A of IT Act 1961 Sub-part: Anti-Avoidance

Statutory Text

Every person shall provide facility for accepting payment, through electronic
modes as may be prescribed, in addition to other electronic modes, if any, being provided by him, where— ( a) such person is carrying on business or profession; and ( b) total sales, turnover or gross receipts in such business or profession exceeds fifty crore rupees during the immediately preceding tax year. Mode of repayment of certain loans or deposits or specified advances.

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To be updated.