Cash payments in India are being quickly replaced by digital ones via e-wallets and UPI apps. The National Payments Corporation of India (NPCI) reports that in June 2024, UPI transactions reached a record of 13.89 billion, representing a 49% annual rise. Anyone may utilise UPI payment systems or e-wallets with just a few clicks thanks to their user-friendly interface. Did you know, though, that you might have to pay taxes on UPI transactions? Continue reading to learn more. T
