Question ID :
40553
Section 269SU- Acceptance of payment through electronic modes
Hello Professional Colleagues !
Whether newly introduced section 269 SU (Acceptance of payment through electronic modes) will apply for any receipt from foreign customer in foreign currency? As it may contradict with Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2016 if authorized dealer is not engaged?
Thank You
Posted by
Manisha
on
Jan 25, 2020
Filed Under
DIRECT TAXES
It applies if the foreign party wishes to make payment thro the 3 prescribed modes specified in sec 269SU. He should not raise a complaint against the entity.
Posted by
SIVADAS CHETTOOR on
Jan 30, 2020