On the 12th day of Parliament's monsoon session, the government moved the Taxation and Other Laws (Amendment) Bill, proposing major tax reforms aimed at stimulating investment and boosting the electronics manufacturing sector. Finance Minister Nirmala Sitharaman is set to introduce the legislation in the Lok Sabha.
The bill extends tax exemptions for capital goods supplied to local manufacturers, streamlines digital payment regulations, and provides relief to business trusts. It also replaces an existing ordinance and integrates stakeholder consultations into the legislative process.
Separately, the Lok Sabha is scheduled to consider and pass the Bankers' Books Evidence Bill, 2026 during the same session.