Today's main P2P news 👇
1️⃣ Supreme Court rejects review pleas against online gaming bans
The Supreme Court has rejected 10 review petitions filed under the leadership of Junglee Games. Tamil Nadu and Karnataka can still ban real-money online games — including skill games, if money is involved. Now only a curative petition remains, which is considered in very few cases.
2️⃣ ED searches Mudrex and Instadapp
A FEMA investigation is underway into cross-border crypto transfers worth more than ₹4,900 crore. Searches were conducted in Bengaluru and Madhya Pradesh on 26 October. According to the ED, Mudrex was advertising instant international transfers through crypto without RBI permission. The ED is now keeping a close watch on INR → crypto → abroad flows.
3️⃣ When do Income Tax notices arrive for UPI credits?
There is no fixed annual UPI limit above which a notice is automatically issued. However, if the money coming into your account does not match your declared income, the Income Tax Department may ask you to explain its source — a credit of ₹60,000 can raise just as many questions as one of ₹6 lakh. In Karnataka, more than 13,000 small traders have already received GST notices based on their UPI inflows. Simply forwarding the money does not explain its source. Keep your records and bank statements safe.
4️⃣ REMINDER: UPI MDR immediately after Diwali
There is only one week left until Diwali. According to NPCI, a 0.4% MDR (maximum ₹300) will apply to merchant (P2M) payments above ₹2,000 “immediately after Diwali” — the date has not yet been notified. Those working with merchant QR codes should take note.
Hinglish
🗓️ India P2P Processing DAILY · 30 October
Aaj ki P2P ki mukhya khabrein 👇
1️⃣ ⚖️Supreme Court ne online gaming bans par review pleas khaarij kar di
Junglee Games ki aguvai mein daakhil 10 review petitions Supreme Court ne reject kar di hain. Tamil Nadu aur Karnataka ab bhi paise wale online games ban kar sakte hain — skill games bhi, agar unmein paise lagte hain. Ab sirf curative petition bachi hai, jo bahut kam cases mein chalti hai.
2️⃣ 🚨ED ne Mudrex aur Instadapp par search kiya
₹4,900 crore se zyada ke cross-border crypto transfers ki FEMA jaanch chal rahi hai. 26 October ko Bengaluru aur Madhya Pradesh mein search hue. ED ka kehna hai ki Mudrex bina RBI permission ke crypto ke through instant international transfers advertise kar raha tha. INR → crypto → abroad flows par ab ED ki kadi nazar hai.
3️⃣🧾 UPI credits par Income Tax notice kab aata hai?
UPI ki koi fixed annual limit nahi hai jis par notice automatically aaye. Lekin agar account mein aane wala paisa aapki declared income se match nahi karta, to Income Tax uska source pooch sakta hai — ₹60,000 ka credit bhi utna hi sawal khada kar sakta hai jitna ₹6 lakh ka. Karnataka mein UPI inflows ke base par 13,000+ small traders ko GST notices aa chuke hain. Paisa aage forward kar dena source ko explain nahi karta. Records aur statements sambhal kar rakhein.
4️⃣⏳ REMINDER: UPI MDR Diwali ke turant baad
Diwali mein ab sirf ek hafta bacha hai. NPCI ke mutabik ₹2,000 se upar ke merchant (P2M) payments par 0.4% MDR (max ₹300) "Diwali ke turant baad" lagu hoga — date abhi notify nahi hui. Merchant QR par kaam karne wale dhyan rakhein.
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