Income Tax Law
Income-tax Act, 2025 · CHAPTER XII — Mode of payment in certain cases, etc.
Section 185Mode of payment in certain cases etc
Income-tax Act, 2025 (30 of 2025)
(1)
(a)an account payee cheque; or
(b)account payee bank draft; or
(c)electronic clearing system through a bank account; or
(d)any other prescribed electronic mode, if,—
(i)the amount or the aggregate amount of such loan, deposit, or specified sum; or
(ii)the amount or the aggregate amount of any previously taken or accepted loan or deposit or specified sum by such person from such another person, which is remaining unpaid, whether due for repayment or not, as on the date of taking or accepting such amount as referred to in clause (i); or
(iii)the aggregate of the amounts referred to in clauses (i) and (ii), is ₹ 20000 or more.
(2)
(a)the Government;
(b)any banking company, post office savings bank, or co-operative bank;
(c)any corporation established by a Central, State or Provincial Act;
(d)any Government company as defined under section 2(45) of the Companies Act, 2013 (18 of 2013);
(e)any institution, association, or body or class of institutions, associations or bodies notified by the Central Government.
(3)
(4)
(a)such deposit is accepted by a primary agricultural credit society or a primary co-operative agricultural and rural development bank from its member; or
(b)such loan is taken from a primary agricultural credit society or primary co-operative agricultural and development bank by its member.
(5)