Shall I have to pay income tax for UPi Transaction?
Everyone has some doubts in many aspects in terms of upi transaction. One the burning question is do we have to pay Income tax for Upi transaction? Now first off all we should about some basic things about upi. Then you can easily understand what is upi and your doubts will hopefully be cleared. What is UPI? Upi is known as Unified Payments Interface. This is an revolutionary change in India. Using this you can transfer money very easily from anywhere in India and any time to another bank account. This doesn't matter if your bank and receiver bank is different. In Upi you need need to wait for Payments. Here you need not to add any beneficiary details to pay. The person you wanted to pay you have to just collect his or her upi id which us known as VPA (Virtual Payment Address). When you pay using this address the amount will be transferred immediately. This service was launched to ...