A proposal to apply a Merchant Discount Rate (MDR) of 0.02%, capped at ₹300, to capital market transactions via UPI has sparked an industry-wide debate over who will ultimately bear…
Category: Banking And Finance
‘Inevitable, more competition’: Nithin Kamath backs UPI MDR but flags cost burden for brokers
Zerodha co-founder Nithin Kamath said the Merchant Discount rate (MDR) on UPI was “probably inevitable” given the widespread adoption of the payment system. In a post on X on Wednesday,…
UPI MDR FAQs: What happens to QR payments, AutoPay, SIPs and utility bills? Key things every UPI user must know
The National Payments Corporation of India (NPCI) has introduced a new (MDR) framework for select UPI transactions, effective 15 October 2026. While the move introduces a 0.4% charge on specified…
Taxpayer left ₹38 lakh income out of ITR, paid ₹19.89 lakh tax later; why ITAT cancelled the ₹23.94 lakh penalty
A Mumbai ITAT ruling has provided relief to a taxpayer who had omitted ₹38.37 lakh of cash deposits from his original but disclosed the amount during assessment proceedings and paid…
Gold hallmarking fee hiked to ₹75 from ₹45: What it means for jewellery buyers ahead of festive season
jewellery buyers could see a new cost entering the pricing chain just ahead of the festive season. The Bureau of Indian Standards has raised the hallmarking fee payable by jewellers…
Your FD and debt fund may face the same tax, here’s what should decide where you invest
For investors choosing between bank (FDs) and debt mutual funds, taxation may no longer provide the clear advantage it once did. Both are generally taxed at the investor’s applicable slab…
September 15 advance tax deadline: Who needs to pay, how much and what penalty?
September 15 is almost here, which means taxpayers who are required to pay advance tax have just one more day to make the second instalment. The Income Tax Department has…