ποΈ New Tax Bill in Lok Sabha Targets Big Reforms
The Central government introduced the Taxation and Other Laws (Amendment) Bill, 2026 in the Lok Sabha on Tuesday. This bill aims to simplify the Income-tax Act, 2025, to boost investment and offer tax certainty to global investors. Key changes include extending tax incentives for electronics manufacturing until March 31, 2041. Furthermore, it amends the Payment and Settlement Systems Act, 2007, regarding electronic payment modes. The legislation will repeal the Income-tax (Amendment) Ordinance, 2026, and incorporate new measures. π