Acts & Laws

Income-tax Act, 2025

On UPSC.wiki

Current affairsTaxation and Other Laws (Amendment) Bill, 2026: Parliament Grants Tax Exemptions to FIIs, Diamond Traders, Data Centres and Investment FundsParliament has passed the Taxation and Other Laws (Amendment) Bill, 2026 — cleared by Lok Sabha on 6 August and Rajya Sabha on 10 August — replacing an Ordinance issued on 5 June 2026. The Bill grants income-tax exemptions to Foreign Institutional Investors (FIIs) and the Bank for International Settlements (BIS) on government securities, extends incentives for diamond and electronics manufacturing, removes restrictions on offshore investment funds, and expands data-centre tax benefits.

In previous-year questions

The Taxation and Other Laws (Amendment) Bill, 2026 amends the Income-tax Act, 2025 — India's new direct tax code. The Income-tax Act, 2025 replaced which earlier legislation with effect from 1 April 2026?UPSC · Current Affairs

Related topics

Reserve Bank of India Finance Commission Payment and Settlement Systems Act, 2007 Union Public Service Commission Article 265 Article 123 Goods and Services Tax GST Council

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