Refund charges imposed on e-payments since Jan this year: CBDT to banks

The Central Board of Direct Taxes (CBDT) has asked banks to refund any charges imposed on prescribed electronic payments, including UPI, since January 1, 2020. Sources in the finance ministry warned that action would be taken against banks which collect any charges on these payments.

The CBDT, through a circular, said that banks are advised to not collect any charges on transactions or payments made through electronic mode.

"There have been some representations that some banks are imposing and collecting charges on transactions carried out through UPI," said the circular issued on Sunday.

A certain number of transactions are allowed free by these