Taxation and Other Laws Amendment Bill 2026 Archives

From New Laws to Regulatory Reforms: August 2026’s Key Legislative and Legal Developments

Key developments during the month of August included new legislation, judicial accountability measures, regulatory reforms and significant updates affecting businesses, professionals and other stakeholders.

Legislation Updates Notifications

No Charges on UPI Payments: Government Clarifies What the PSS Act Amendment Really Means

Government has clarified that UPI will remain free for consumers and person-to-person transactions, while any future Merchant Discount Rate (MDR), if introduced, will be limited, threshold-based and applicable only to certain merchant transactions.

Legislation Updates Statutes/Bills/Ordinances

Lok Sabha Passes Taxation and Other Laws (Amendment) Bill, 2026: Wide-Ranging Reforms for Digital Payments, Funds and Manufacturing

Taxation and Other Laws (Amendment) Bill, 2026 seeks to replace the Income-tax (Amendment) Ordinance, 2026 and proposes amendments to the Income-tax Act, 2025, the Finance Act, 2026 and the Payment and Settlement Systems Act, 2007.