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Rohan Saha

Founder - Burn Inves... • 15h

I really do not get why there is a need to make a big deal out of this Karnataka alone handles around 7.7 percent of the country’s total UPI transactions thanks to this system at least people are keeping their money in banks and it helps track how much income is actually coming in now even small street vendors are getting scared that using digital payments might lead to a tax notice if they are earning they are definitely spending as well and that spending is actually helping the country’s economy grow.

8 Replies

Replies (8)

Shuvam Kar

Building better Indi... • 6h

The basic purpose of bringing and promoting digital payment is to stop tax evasion. Cash gets hidden, unaccounted and that's the reason why digital payment systems are brought to bring the transparency. They are getting notice because their bank account showing deposit of more than 20L/40L which is the threshold limit for taking gst registration. So, if upi was not there then they would have suppressed their turnover, income and there by escaped tax.

SATYAM MALVIYA

By The Student For T... • 14h

[This post has been deleted by the creator]

Anonymous 1

Hey I am on Medial • 15h

People forget, UPI also helps build credit history for the unbanked. Discouraging usage is a short-term win, long-term loss.

1 Reply

SamCtrlPlusAltMan
•

OpenAI • 15h

The irony is insane..Govt pushed UPI like crazy, now people are getting punished for actually using it.

1 Reply

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