https://www.taxtmi.com/news?id=74165 The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers. en-us Thu, 06 Aug 2026 16:01:07 +0530 Thu, 06 Aug 2026 16:01:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=74165 The proposed amendment to Section 10A of the Payment and Settlement Systems Act, 2007 replaces the existing income-tax-linked reference with a Central Government notification-based mechanism for electronic payment modes. It removes the current statutory restriction preventing banks and payment service providers from charging Merchant Discount Rate on notified modes, enabling the Government to permit charges for UPI and other digital payments. The policy rationale is to support funding for payment infrastructure and a sustainable revenue model for service providers. News - Thu, 06 Aug 2026 16:01:07 +0530 https://www.taxtmi.com/news?id=74165