If you have ever been confused by what ‘internet payment transaction declaration’ entails, this article will outline its process from start to finish. Digital payment transactions involve several entities–merchants (payees), consumers (payers), and banks–with merchants using point of sale (POS) systems to transact with consumers while their respective banks then transmitting payment via payment networks to reach their payee’s bank accounts.
The online Payment Transaction Declaration Form makes it simple and efficient to upload and record physical transactions digitally. Download NEFT/RTGS instructions directly for bank transfer without manually inputting information afterwards – plus this keeps both parties updated about transactions!