Fact Check: Tax on UPI users for transactions above Rs 2,000? No, find the truth here
A post claiming that a 1.1 per cent tax will be levied on UPI transactions starting April 1 next year is going viralBy K Sherly Sharon Published on 14 Dec 2024 10:54 AM GMT
Claim Review:A 1.1% tax will be levied on UPI transactions over Rs 2,000 starting April 1, 2025.
Claimed By:Social media users
Claim Reviewed By:NewsMeter
Claim Source:Social Media
Claim Fact Check:False
Fact:The claim is false. The 1.1% tax applies only to PPI merchant transactions, not to bank-to-bank money transfers.
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