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Electronic payments norms: CBDT relaxes norms for businesses having turnover of more than Rs 50 crore
May 20, 2020 | By Moneycontrol.com
business
Mandating such businesses to provide the facility for accepting payments through prescribed electronic modes would cause administrative inconvenience and impose additional costs, CBDT said.
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The Central Board of Direct Taxes (CBDT) on May 20 exempted firms with more than Rs 50 crore turnover and engaged in only B2B businesses from the requirement of accepting payments only by electronic modes like RuPay or BHIM-UPI. "It is clarified that the pro
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