FM Sitharaman confirms no tax or transaction charges on UPI payments under the Taxation and Other Laws Amendment Bill.

UPI payments may see a major regulatory change after Parliament cleared an amendment allowing the government to decide on MDR charges for notified digital payment modes. We…

The Payment and Settlement Systems Act, 2007 was passed in Lok Sabha, giving rise to concerns that the law would allow banks to charge fees on UPI transactions. | India News

Parliament has passed the Taxation and other Laws (Amendment) Bill. Finance Minister Nirmala Sitharaman confirmed UPI will remain free for consumers. The legislation removes the…

Finance Minister Nirmala Sitharaman said UPI transactions will remain free for consumers, with most low-value payments also staying free. Any future MDR would apply only to…