Income Tax Law
Income-tax Act, 2025 · CHAPTER XII — Mode of payment in certain cases, etc.
Section 186Mode of undertaking transactions
Income-tax Act, 2025 (30 of 2025)
(1)
(a)in aggregate from a person in a day; or
(b)in respect of a single transaction; or
(c)in respect of transactions relating to one event or occasion from a person, except through—
(i)an account payee cheque; or
(ii)account payee bank draft; or
(iii)electronic clearing system through a bank account; or
(iv)any other electronic mode, as may be prescribed.
(2)
(a)any receipt by Government, any banking company, post office savings bank or co-operative bank;
(b)transactions of the nature referred to in section 185;
(c)such other persons or class of persons or receipts, as may be notified by the Central Government.
This section refers to
§ 185 Mode of payment in certain cases etc