New Delhi, Aug. 4 -- Finance Minister Nirmala Sitharaman on Tuesday introduced the Taxation and Other Laws (Amendment) Bill, 2026 in the Lok Sabha, proposing sweeping changes to India's tax framework aimed at attracting overseas capital, simplifying rules for offshore investment funds and strengthening the country's position as a global fund management destination.
The proposed legislation seeks to replace the Taxation Laws (Amendment) Ordinance, 2026, promulgated on June 5, which had granted tax exemptions on interest income and capital gains earned by foreign portfolio investors (FPIs) from investments in government securities.
A key feature of the Bill is the significant relaxation of eligibility conditions for Eligible Investment Fund...