The Reserve Bank of India (RBI) announced an increase in the UPI transaction limit for tax payments from ₹1 lakh to ₹5 lakh per transaction.According to News 18, Governor Shaktikanta Das stated this change during the announcement of the third bi-monthly monetary policy for the current financial year, emphasizing that this adjustment aims to simplify tax payments for consumers through UPI.
“Currently, the transaction limit for UPI is ₹1 lakh except for certain categories of payments which have higher transaction limits. It has now been decided to enhance the limit for tax payments through UPI from ₹1 lakh to ₹5 lakh per transaction. This will further ease tax payments by consumers through UPI,” Das said.
