Think UPI transactions are tax free..Think again #upi #gst #digitaltransactions #financewithrajeev

Think UPI transactions are tax-free? Think again!

If you're receiving significant amounts via UPI—say, ₹2,000 here and ₹15 lakh there—you might be stepping into the realm of business transactions in the eyes of the tax authorities.

📊 Understanding the Thresholds:

Services: Exceeding ₹20 lakh in annual UPI transactions? GST registration becomes mandatory.
Trading: Crossed the ₹40 lakh mark? You're required to register for GST.
🚨 Consequences of Non-Compliance:

Failing to register can lead to your transactions being treated as business income, attracting both GST and Income Tax liabilities.

📲 Stay Informed, Stay Compliant:

With the government's recent move to increase the UPI transaction limit for tax payments to ₹5 lakh per transaction, it's crucial to understand where you stand.

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Disclaimer: This video is for educational purposes only and should not be considered financial advice. I am not recommending any buy or sell decisions. Please conduct your own research and consult a SEBI-registered advisor before making any investment decisions.

Видео Think UPI transactions are tax free..Think again #upi #gst #digitaltransactions #financewithrajeev канала Financewithrajeev