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As per the recent Monetary Policy Committee meeting of August 2024, the limit for UPI tax payments was increased from ₹1 lakh to:

1. ₹10 lakh
2. ₹5 lakh
3. ₹15 lakh
4. ₹3 lakh

Correct answer: ₹5 lakh

Solution

In the August 2024 RBI MPC meeting, the UPI limit for tax payments was enhanced from ₹1 lakh to ₹5 lakh. This was a specific relaxation for tax-related transactions, not for all UPI payments.

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