UPI

How much UPI is tax free?

Individual UPI payments up to ₹50,000, when received as gifts from non-relatives in a financial year, are generally exempt from income tax. Gifts from defined relatives are entirely tax-exempt. Amounts received for business services, cashbacks, or gifts from non-relatives exceeding ₹50,000 must be reported and may be taxed as 'Income from Other Sources.'

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