Thursday, 8 August, 2024

RBI Increases UPI Limit for Tax Payments to Rs 5 Lakh

The Reserve Bank of India (RBI) has raised the Unified Payments Interface (UPI) limit for tax payments from Rs 1 lakh to Rs 5 lakh. This increase aims to facilitate easier and higher-value transactions for taxpayers, enhancing convenience and promoting digital payment adoption. The move is expected to streamline the tax payment process and support the government's push towards a cashless economy.