In Push Towards Cash-less Economy, Businesses to be Fined Rs 5,000 a Day for Not Using Digital Payments

In order to encourage digital economy and move towards a less-cash economy, a new provision was inserted in the Income Tax Act to require every person having a business turnover of more than Rs 50 crore to mandatorily provide facilities for accepting payments through prescribed electronic modes.

from Top Business News- News18.com
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