{"id":235098,"date":"2020-08-31T11:48:05","date_gmt":"2020-08-31T06:18:05","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=235098"},"modified":"2020-08-31T11:49:42","modified_gmt":"2020-08-31T06:19:42","slug":"cbdt-charges-collected-on-prescribed-electronic-modes-asked-to-be-refunded-if-collected-after-1st-january-2020","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2020\/08\/31\/cbdt-charges-collected-on-prescribed-electronic-modes-asked-to-be-refunded-if-collected-after-1st-january-2020\/","title":{"rendered":"CBDT | Charges collected on prescribed electronic modes asked to be refunded, if collected after 1st January, 2020"},"content":{"rendered":"<p style=\"text-align: justify;\">Central Board of Direct taxes notifies a clarification that the imposition of a charge on the prescribed electronic modes under Section 269 SU of the Income Tax Act.<\/p>\n<p style=\"text-align: justify;\">Based on Section 10 A of the Payment and Settlement Systems Act, 2000, any charge including the Merchant Discount Rate shall not be applicable on or after 01-01-2020 on payment made through prescribed electronic modes.<\/p>\n<p style=\"text-align: justify;\">However, representations have been received that some banks are imposing and collecting charges on transactions carried out through UPI. A certain number of transactions are allowed free of charge beyond which every transaction bears a charge.<\/p>\n<p style=\"text-align: justify;\">The above-stated act on part of banks is a breach of Section 10 A of the PSS Act as well as Section 269SU of the IT Act. Such breach attracts penal provisions under Section 271 DB of the IT Act as well as Section 26 of the PSS Act.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff0000;\">Therefore, bank 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 269 SU of the IT Act and not to impose charges on any future transactions carried through the said prescribed modes.<\/span><\/p>\n<p>Following were prescribed electronic modes under Section 269 SU of the Income Tax Act:<\/p>\n<ul>\n<li>Debit Card powered by RuPay<\/li>\n<li>Unified Payments interface (UPI)(BHIM-UPI)<\/li>\n<li>Unified Payments Interface Quick Response Code (UPI QR Code) (BHIM-UPI QR Code)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/media\/EgqjKAvUYAI5W3C?format=jpg&amp;name=900x900\" width=\"725\" height=\"903\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Central Board of Direct taxes notifies a clarification that the imposition of a charge on the prescribed electronic modes under Section 269 <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,1193],"tags":[9631,29414,3091,39079,2592,26104,36830,43290],"class_list":["post-235098","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-notifications","tag-banks","tag-cbdt","tag-charges","tag-electronic-modes","tag-Income_Tax","tag-merchant-discount-rate","tag-payment-and-settlement-systems-act","tag-transactions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>CBDT | Charges 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and move towards a less-cash economy, a new provision namely Section 269SU was inserted in the Income-tax Act, 1961 (\"the Act\"), vide the Finance Act 2019 (\"the Finance Act\"), which provides that every person having a\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":223709,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/31\/income-tax-16th-amendment-rules-2019-cbdt-notifies-modes-of-payment-for-s-269su-of-it-act-1961\/","url_meta":{"origin":235098,"position":1},"title":"Income-tax (16th Amendment) Rules, 2019; CBDT notifies modes of payment for S. 269SU of IT Act, 1961","author":"Bhumika Indulia","date":"December 31, 2019","format":false,"excerpt":"G.S.R. 960(E).\u2014In exercise of the powers conferred by Section 269SU read with Section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend Income-tax Rules, 1962, namely\u2014 Short title and commencement.\u2014(1) These rules may be called the\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":258532,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/12\/15\/communications-exclusively-by-electronic-mode-vide-e-verification-scheme-2021-notified-by-cbdt\/","url_meta":{"origin":235098,"position":2},"title":"Communications exclusively by electronic mode vide e-Verification Scheme, 2021, notified by CBDT","author":"Prachi Bhardwaj","date":"December 15, 2021","format":false,"excerpt":"The Central Board of Direct Taxes has notified the e-Verification Scheme, 2021 vide notification dated December 13, 2021, for collection of information of assessee by the assessing officer. \u00a0 Key highlights of the scheme are: The scope of the Scheme shall be in respect of: calling for information under section\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"CBDT","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/MicrosoftTeams-image-159-1.jpg?resize=700%2C400&ssl=1 2x, 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Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":216351,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/07\/02\/rbi-neft-and-rtgs-charges-to-be-wived-off\/","url_meta":{"origin":235098,"position":4},"title":"RBI | NEFT and RTGS charges to be waived off","author":"Bhumika Indulia","date":"July 2, 2019","format":false,"excerpt":"National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS) systems \u2013 Waiver of charges The Reserve Bank has since reviewed the various charges levied by it on the member banks for transactions processed in the RTGS and NEFT systems. In order to provide an impetus to digital funds\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":176344,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/15\/govt-subsidize-mdr-charges-debit-card-bhim-upi-aeps-transactions-value-less-rs-2000\/","url_meta":{"origin":235098,"position":5},"title":"Govt to subsidize MDR charges on debit card\/BHIM UPI\/AePS transactions of value less than Rs. 2000","author":"Saba","date":"December 15, 2017","format":false,"excerpt":"The Union Cabinet has approved that the Merchant Discount Rate (MDR) applicable on all debit card\/BHIM UPI\/ Aadhaar enabled Payment System (AePS) transactions up to and including a value of Rs. 2000 will be borne by the Government for a period of two years with effect from 1st January, 2018\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/235098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=235098"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/235098\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=235098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=235098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=235098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}