New Financial Year Kicks Off: Know The Key Changes In UPI , GST, Income Tax Slabs And More From April 1 As the new financial year begins on April 1, 2025 , several significant changes are set to impact various financial sectors in India . Income Tax Implications of UPI Transactions and E-Wallets In the modern era of digital payments, the introduction of Unified Payments Interface ( UPI ) in India has marked a significant leap towards a cashless economy. UPI enables users to utilize their smartphones as virtual debit cards, eliminating the need for physical cash or cards for transactions. This system, introduced in 2016, allows individuals to link multiple bank accounts to a single smartphone app and conduct fund transfers ... Understand UPI transaction limits under Income Tax & GST in 2025 . Know tax rules for gifts, cashbacks, and business payments via UPI . Worried about income tax notices? Know the latest cash deposit limits in savings & current accounts, UPI rules, and FD thresholds to stay compliant in 2025 .
