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Section 269SU

Latest Articles


FAQs on Disallowance of cash expenses or limit on cash transactions

Income Tax : Understand key provisions on disallowance of cash expenses, limits on cash transactions, and penalties under Sections 269T, 269SS,...

August 24, 2024 1704 Views 0 comment Print

Transforming Tax Compliance: The Impact of Digital Transactions in India

Income Tax : Article explains implications of digital transactions on income tax compliance, focusing on Section 269ST, Rule 6ABBA, Section 26...

June 1, 2024 792 Views 0 comment Print

Legitimacy of repayments through Journal Entries – Whether liable to penalty?

Income Tax : Explore the impact of Income Tax Sections 269SS, 269ST, 269SU, and 269T on transactions via Journal/Book Entries. Learn about legi...

February 27, 2024 7200 Views 0 comment Print

Prohibited transaction in cash/limit on cash transactions

Income Tax : Discover why Section 40A(3) limits cash payments and promotes a cashless economy, including reduction of black money generation. P...

November 1, 2023 21456 Views 0 comment Print

Implication of Cash transactions under Income Tax Act, 1961

Income Tax : Through Income tax Act, 1961 cash transaction has been limited, restricted in certain cases. In this article you will get insights...

September 1, 2023 8061 Views 0 comment Print


Latest News


Section 269SU Prescribing electronic modes of payment needs a re-look

Income Tax : The Chamber of Tax Consultants has made a represenation to Hon’ble Finance Minister and submitted that compliance with secti...

January 30, 2020 13080 Views 0 comment Print


Latest Judiciary


Implication of Cash transactions under Income Tax Act, 1961

Income Tax : Through Income tax Act, 1961 cash transaction has been limited, restricted in certain cases. In this article you will get insights...

September 1, 2023 8061 Views 0 comment Print


Latest Notifications


Section 269SU: Banks to Refund charges received on or after 01.01.2020

Income Tax : Banks are, , advised to immediately refund the charges collected, if any, on or after 1st  January 2020 on transactions carried o...

August 30, 2020 4353 Views 0 comment Print

Section 269SU not applicable to specified person having only B2B transactions

Income Tax : It is hereby clarified that the provisions of section 269SU of the Act shall not he applicable to a specified person having only B...

May 20, 2020 8076 Views 1 comment Print

Rule 119AA Modes of payment for purpose of section 269SU

Income Tax : Rule 119AA. Modes of payment for the purpose of section 269SU.- Every person, carrying on business, if his total sales, turnover o...

December 30, 2019 63156 Views 1 comment Print

Clarifications on prescribed electronic modes under section 269SU

Income Tax : Finance Act has also inserted section 271DB in the Act, which provides for levy of penalty of five thousand rupees per day in case...

December 30, 2019 43365 Views 38 comments Print

CBDT invites application for prescribing eligible Section 269SU electronic payment mode

Income Tax : FTS- 1275045/2019 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ********************...

October 18, 2019 27168 Views 2 comments Print


Latest Posts in Section 269SU

FAQs on Disallowance of cash expenses or limit on cash transactions

August 24, 2024 1704 Views 0 comment Print

Understand key provisions on disallowance of cash expenses, limits on cash transactions, and penalties under Sections 269T, 269SS, 269ST, and 269SU.

Transforming Tax Compliance: The Impact of Digital Transactions in India

June 1, 2024 792 Views 0 comment Print

Article explains implications of digital transactions on income tax compliance, focusing on Section 269ST, Rule 6ABBA, Section 269SU, and Rule 119AA of Income Tax Act, 1961.

Legitimacy of repayments through Journal Entries – Whether liable to penalty?

February 27, 2024 7200 Views 0 comment Print

Explore the impact of Income Tax Sections 269SS, 269ST, 269SU, and 269T on transactions via Journal/Book Entries. Learn about legislative framework, judicial interpretations, and penalties.

Prohibited transaction in cash/limit on cash transactions

November 1, 2023 21456 Views 0 comment Print

Discover why Section 40A(3) limits cash payments and promotes a cashless economy, including reduction of black money generation. Prohibited transaction in cash/limit on cash transactions.

Implication of Cash transactions under Income Tax Act, 1961

September 1, 2023 8061 Views 0 comment Print

Through Income tax Act, 1961 cash transaction has been limited, restricted in certain cases. In this article you will get insights about how much you are allowed to transact in cash.

Section 269SU: An Initiative to Boost Digital Transaction

February 13, 2022 2421 Views 0 comment Print

SECTION 269SU: AN INTIATIVE TO  BOOST  DIGITAL TRANSACTION The Government of India has adopted several fiscal and non-fiscal measures to move towards a less cash economy, to reduce the generation and circulation of black money and to promote the digital economy, The GOI with a vision to transform India into a digitally empowered society and […]

Say No To Cash- Cashless under Income Tax Act, 1961

January 20, 2022 8703 Views 5 comments Print

Understanding the Cashless Economy under Income Tax Act, 1961. Learn about the provisions and implications of going cashless for business transactions.

How to Add Prescribed Payment Modes on Income Tax Website

June 29, 2021 3825 Views 0 comment Print

FAQs on How to Add Prescribed Payment Modes on Income Tax Website Q. 1 Why do I need to provide details of my payment modes? Ans. As per section 269SU of the Income Tax Act, 1961, every person, carrying on business, shall provide facility for accepting payment through prescribed electronic modes, in addition to the […]

When to Say No to Cash Transaction under Income Tax Act, 1961

April 11, 2021 51168 Views 3 comments Print

A. Income Tax Act, 1961 discourages transactions in cash through several of its provisions. This is done with a view to- counteracting money laundering and tax evasion; encouraging transparent business practices; providing enabling environment for growth of transparent businesses; & easing of auditing and investigations. B. The provisions relating to cash transactions are broadly summarized […]

Section 269SU: Banks to Refund charges received on or after 01.01.2020

August 30, 2020 4353 Views 0 comment Print

Banks are, , advised to immediately refund the charges collected, if any, on or after 1st  January 2020 on transactions carried out using the electronic modes prescribed under section 269SU and not to impose charges on any future transactions carried through the said prescribed modes.

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