New Delhi, Aug. 5 -- The government on Tuesday introduced the Taxation and Other Laws (Amendment) Bill, 2026, in the Lok Sabha, proposing a series of tax and regulatory changes aimed at attracting foreign investment, strengthening domestic manufacturing and improving ease of doing business.

The Bill, introduced by Finance Minister Nirmala Sitharaman, seeks to amend the Payment and Settlement Systems Act, 2007, the Income-tax Act, 2025, and the Finance Act, 2026. It will also replace the Income-tax (Amendment) Ordinance, 2026.

Context: Global Uncertainty

In a statement accompanying the Bill, Sitharaman cited evolving geopolitical developments and disruptions in global trade and supply chains as key reasons for the proposed changes.

The...