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Union Finance Minister Nirmala Sitharaman is set to introduce the Taxation and Other Laws (Amendment) Bill, 2026, in the Lok Sabha on Tuesday, according to the revised List of Business issued by the House.
The Bill seeks to further amend the Payment and Settlement Systems Act, 2007, the Income-tax Act, 2025, and the Finance Act, 2026. Sitharaman will move for leave to introduce the legislation and subsequently introduce the Bill in the House. The Finance Minister will also lay on the Table an explanatory statement, in Hindi and English, outlining the reasons for immediate legislation through the promulgation of the Income-tax (Amendment) Ordinance, 2026 (No. 2 of 2026). As part of the legislative business, Sitharaman will move for leave to introduce the Taxation and Other Laws (Amendment) Bill, 2026, which seeks to amend the Payment and Settlement Systems Act, 2007, the Income-tax Act, 2025, and the Finance Act, 2026. She will also lay an explanatory statement outlining the reasons for promulgating the Income-tax (Amendment) Ordinance, 2026 (No. 2 of 2026). The Lok Sabha will thereafter take up discussion on the Demands for Excess Grants for 2022-23. After the discussion concludes, Sitharaman will introduce the Appropriation (No. 3) Bill, 2026, seeking parliamentary approval for expenditure incurred during the financial year ended March 31, 2023, in excess of the amounts originally granted, and will move for its consideration and passage. The House will also hear statements from ministers on the implementation of recommendations made by parliamentary standing committees. Union Minister Jitin Prasada will make a statement on the implementation of recommendations relating to the Department for Promotion of Industry and Internal Trade. Minister of State Chandra Sekhar Pemmasani will make a statement on recommendations concerning the Department of Land Resources, while Minister of State Bhagirath Choudhary will present a statement on the implementation of recommendations related to the Department of Agricultural Research and Education. The House is also scheduled to consider and pass the Bankers' Books Evidence Bill, 2026, which aims to modernise the legal framework governing evidence relating to bankers' books by aligning it with contemporary digital banking practices. The day's agenda also includes Matters under Rule 377 before the House takes up the remaining legislative business. (ANI)
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