§ 187
Chapter XII
Acceptance of payment through prescribed electronic modes
Income-tax Act, 2025
Business owners must provide a way to accept payments through certain electronic modes. This applies to businesses with sales, turnover, or gross receipts over
- 50 crore rupees in the previous tax year
📜 Official text of the section +
187. 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.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.