If amount received in a financial year through UPI from various person totals for more than 3-4 Lakhs, how will the same be considered for ITR? Does the receipt need to be declared and if yes, under what categories of Income from OS?
Menu
UPI Transaction treatment in ITR?
Replies (3)
Depend on nature of sources related to UPI transaction. You need to identify the source and nature of each transaction.
Upi transaction is not a separate thing.Its a mode
Receipt of sum upto 50,000 through UPI is exempt from Tax.
This amount denotes the total amount received through UPI in a financial year or from one individual only?
Related Threads
CAclubindia
