wordpress blog stats
Connect with us

Hi, what are you looking for?

IT returns could soon be paid via UPI, wallets and credit cards: Report

payments, digital payments

Taxpayers could soon use digital modes of payment such as United Payments Interface (UPI), mobile wallets and credit cards to pay their income tax returns, according to a Business Standard report. Currently, income tax can be done be paid only through debit cards (of 6 banks) or via net banking.

Revenue Secretary Ajay Bhushan Pandey said that “we would definitely like to use UPI” and that this might be allowed “as soon as possible”, according to the report. The report also cited an unnamed government official who said that for small tax amounts, mobile wallets could be used, and the government would define “electronic payments” which could include a mobile wallet, a credit card or UPI.

It is also possible that the government is looking for ways to encourage use of UPI, which is run by the National Payments Corporation of India. UPI, originally launched in April 2016, has been a massive success in the country. FY2017 saw 17.8 million transactions made via UPI whereas in April 2019 alone, 781.7 million transactions were made using UPI; in October 2019, that number reached 1.14 billion, according to data released by NPCI. There are also plans to take BHIM UPI international, with a launch in Singapore expected in February 2020.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

Find out how people’s health data is understood to have value and who can benefit from that value.

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

News

In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ