Upi income tax india 2025: Know about key financial changes from April

Know about key financial changes from April 1, 2025 , including revised tax slabs, new TDS and TCS rules, UPI security updates, highway toll hikes, and more. Click to ASK CHALLANS Income - tax Bill, 2025 New Income - tax Bill 2025 Navigator Utility to check section of Income - tax Act, 1961 (as amended by Finance (No. 2) Act, 2024) vis-a-vis corresponding Clause of Income - tax Bill, 2025 Press Release: Executive Summary on the Comprehensive Simplification of the Income - tax Act, 1961 Income Tax Implications of UPI Transactions and E-Wallets In the modern era of digital payments, the introduction of Unified Payments Interface ( UPI ) in India has marked a significant leap towards a cashless economy. UPI enables users to utilize their smartphones as virtual debit cards, eliminating the need for physical cash or cards for transactions. This system, introduced in 2016, allows individuals to link multiple bank accounts to a single smartphone app and conduct fund transfers ... Digital payments through UPI apps and e-wallets are rapidly replacing physical cash as a payment method. According to the National Payments Corporation of India (NPCI), UPI transactions marked a record of 185.86 billion transactions, i.e. 42% per year growth in the financial year 2024- 2025 . UPI payment platforms or e-wallets come with a user-friendly interface; anyone can use it with just a few clicks. However, did you know that you might need to pay tax on UPI transactions? Read on to know ...