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Fintech startup Fi, for instance, reduced the foreign currency transaction fee for its Amplifi credit card from 1 per cent to 0 per cent in December, matching the zero forex markup feature already available on its debit card.
Individual tax payers had many expectations from the budget, such as relief in increase in standard deduction, incentives in purchasing electric vehicles, enhanced deductions for health insurance premium, HRA higher deduction for other tier 1 cities, increase in deduction for NPS employer contribution, etc. Some announcements on such deductions/ exemptions and improvements in administrative processes would have offered respite to taxpayers.
It is believed that this partnership will help accelerate UPI’s global acceptance, providing foreign merchants access to Indian customers who do not need to rely on foreign currency or forex cards for making digital payments.
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The finance ministry on Wednesday deferred by three months the implementation of a higher TCS rate of 20 per cent on expenditures made under LRS and overseas tour packages till September 30