New Delhi, Aug. 7 -- The Lok Sabha on Thursday passed the Taxation and Other Laws (Amendment) Bill, 2026, without debate. The legislation aims to attract foreign investment, support domestic manufacturing, and provide greater clarity in tax rules. It will replace the Income-tax (Amendment) Ordinance, 2026.

Key Objectives

The Bill introduces amendments to the Income-tax Act, 2025, the Finance Act, 2026, and the Payment and Settlement Systems Act, 2007.

According to the government, the changes are in response to shifting global economic conditions, including geopolitical developments and disruptions in trade and supply chains. The measures are intended to reduce the impact of external shocks, support affected sectors, and improve ease of...