Sugam Parivahan Pvt.Ltd.

Compliance of provision 269SU (newly inserted section by CBDT)

Dear Business Partner,

This is to inform you that the Central Board of Direct Tax (CBDT) has inserted new section 269 SU in Income Tax Act, 1961 (effective 1st November, 2019), which states that every person carrying on business, whose gross receipts/ turnover exceed INR 50 Crores, during the immediately preceding previous year, shall provide facilities for accepting payment through prescribed electronic modes in addition to electronic facilities that may already be provided by the business.

The Central Board of Direct Taxes (CBDT) vide Notification 105/2019/F, dated 30th December, 2019 has prescribed the modes of payment for the purpose of the section. it has also issued a Circular 32/2019 providing clarifications in respect of the prescribed e-payment modes.

This is to inform to all our valuable clients and Business Partners that you can pay to Sugam by undernoted Electronic mode of payment as prescribed by The Central Board of Direct Taxes (CBDT) in Section 269SU of the Income Tax Act, 1961 :