Summary
- The Lok Sabha has passed the Taxation and Other Laws (Amendment) Bill, 2026, introducing significant reforms for digital payments, fund management, and manufacturing.
- The Bill replaces the Income-tax (Amendment) Ordinance, 2026 and amends the Income-tax Act, 2025, Finance Act, 2026, and Payment and Settlement Systems Act, 2007.
- Key changes include tax exemptions for foreign companies in diamond trading and electronics manufacturing, along with adjustments to investment fund regulations.
- These reforms aim to enhance tax certainty and attract global capital into India's financial markets.
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