Tax Amendment Bill Passed in Lok Sabha: Changes for UPI Transactions, Offshore Fund Norms

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Finance

7 August 2026 at 1:54 pm

Tax Amendment Bill Passed in Lok Sabha: Changes for UPI Transactions, Offshore Fund Norms

HyperFast News

Summary

The Lok Sabha has passed a tax amendment bill that seeks to remove the existing legal provision preventing banks and payment service providers from charging Merchant Discount Rate (MDR) on notified electronic payment modes. This change could impact UPI transactions and offshore fund norms.

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