Taxation Laws Amendment Bill: FM Sitharaman Proposes Scraps Zero MDR On UPI Payments

By NDTV Profit

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The Centre has proposed a significant overhaul of the legal framework governing the zero-Merchant Discount Rate (MDR) regime for digital payments by introducing amendments to the Payment and Settlement Systems Act and Income Tax Act. The current framework for zero MDR will be replaced with a notification-based mechanism. The amendment will empower the Central Government to notify the digital payment modes that will continue to enjoy exemption from MDR. At present, merchants cannot be charged MDR on standard UPI and RuPay debit card transactions. #taxation #upipayments #taxationlaws #ndtvprofit For more videos subscribe to our channel: https://www.youtube.com/@NDTVProfitIndia Visit NDTV Profit for more news: https://www.ndtvprofit.com/ Don't enter the stock market unaware. Read all Research Reports here: https://www.ndtvprofit.com/research-reports Follow NDTV Profit here Twitter: https://twitter.com/NDTVProfitIndia , https://twitter.com/NDTVProfit LinkedIn: https://www.linkedin.com/

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