INCOME TAX26 Sept 2026
‘Seems to be an issue between the broker and client; no govt talks on new UPI MDR’: NSE CEO Ashish Chauhan | Mint
From October 15, NPCI's new UPI charges start. Capital market payments to stockbrokers, securities and mutual funds will cost 0.02%, capped at ₹300. Merchant payments above ₹2,000 face 0.4%, paid by the merchant, not you. Small merchants taking up to ₹1 lakh a month stay exempt. NSE's CEO says there were no government talks, so brokers and clients must sort it out.
Key Statutory Highlights
- NPCI's new UPI charges take effect on October 15 and apply to capital market payments such as stockbroking, securities and mutual funds at 0.02%, capped at ₹300 per transaction.
- Person-to-merchant UPI payments above ₹2,000 will carry a 0.4% Merchant Discount Rate, capped at ₹300, and this charge is paid by the merchant, not the customer.
- Small merchants collecting up to ₹1 lakh a month through UPI QR codes remain fully exempt, which shields about 96 per cent of all merchant transactions.
Actionable Advice for Taxpayers / Founders:If you pay brokers, securities or mutual funds through UPI, check with them before October 15 to see whether any extra cost is passed on to you, and factor it into your payments. The final treatment is still being worked out between brokers and clients, so confirm the details directly.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
Share: