Banking News – The Inland Revenue Department (IRD) is set to announce the winners of the second fortnightly taxpayer incentive prize for Shrawan today through a program organized at the Ministry of Finance. Finance Minister Dr. Swarnim Wagle and Finance Secretary Dr. Ghanshyam Upadhyaya will announce the winners.

Consumers who engaged in compliant transactions between Shrawan 16 and Shrawan 31 will be eligible for today’s prize draw.

According to the department, consumer participation in the incentive program has surged since its launch. During the 16-day period from Shrawan 16 to 31 alone, 357,149 cash transaction bills were uploaded for participation in the prize scheme. This compares with only 7,077 bills uploaded during the first 15 days of Shrawan.

Similarly, the number of consumers automatically participating through QR transactions increased from 25.608 million to 32.087 million.

The department said the total number of transactions participating in the incentive scheme during the latest 16-day period reached 32.443 million. From these transactions, 16 winners will be selected today.

One winner will be selected for each of the 16 days from Shrawan 16 to 31, with each winner receiving Rs. 133,334. After deduction of applicable taxes, each winner will receive a net Rs. 100,000.

In addition, one winner will receive a bumper prize of Rs. 1 million, which will be subject to 25 percent tax.

The department will also distribute cash prizes today to the winners of the first fortnightly prize scheme of Shrawan.