TaxationBill – Lok Sabha to Take Up Taxation Amendment Bill and Key Financial Measures
TaxationBill –Union Finance Minister Nirmala Sitharaman is scheduled to present a series of important financial and legislative proposals in the Lok Sabha on Tuesday, with tax amendments and government expenditure among the key issues before the House.
Union Finance Minister Nirmala Sitharaman will introduce the Taxation and Other Laws (Amendment) Bill, 2026, in the Lok Sabha as part of the government’s legislative agenda for Tuesday. According to the revised List of Business issued by the House, the proposed legislation aims to make changes to several existing laws, including the Payment and Settlement Systems Act, 2007, the Income-tax Act, 2025, and the Finance Act, 2026. The minister will first seek the House’s permission before formally introducing the Bill.
Amendment Bill Targets Multiple Financial Laws
The proposed legislation is intended to update and revise key provisions across multiple financial statutes. Alongside introducing the Bill, Sitharaman will also place an explanatory statement before Parliament in both English and Hindi. The document will explain why the government considered it necessary to promulgate the Income-tax (Amendment) Ordinance, 2026 (No. 2 of 2026), before bringing the matter before Parliament for legislative approval.
The explanatory statement is expected to provide lawmakers with the rationale behind the ordinance route and outline the circumstances that required immediate legal intervention before the commencement of the current parliamentary proceedings.
House to Review Excess Government Expenditure
Following the introduction of the taxation legislation, the Lok Sabha is scheduled to hold discussions on the Demands for Excess Grants for the financial year 2022-23. These discussions relate to government spending that exceeded the amounts originally approved by Parliament during that financial year.
Once the debate concludes, the Finance Minister will introduce the Appropriation (No. 3) Bill, 2026. The proposed legislation seeks Parliament’s approval for expenditure incurred up to March 31, 2023, that went beyond the sanctioned budget allocations. The government will also seek the House’s approval for the Bill’s consideration and passage.
Ministers to Present Progress on Committee Recommendations
Apart from financial legislation, the Lok Sabha agenda also includes statements from several ministers regarding the implementation of recommendations submitted by parliamentary standing committees.
Union Minister Jitin Prasada will brief the House on the progress made in implementing recommendations related to the Department for Promotion of Industry and Internal Trade. Minister of State Chandra Sekhar Pemmasani is scheduled to present an update concerning recommendations linked to the Department of Land Resources.
Meanwhile, Minister of State Bhagirath Choudhary will inform the House about the implementation status of recommendations associated with the Department of Agricultural Research and Education, highlighting the government’s follow-up actions on parliamentary committee observations.
Banking Evidence Law Also on Legislative Agenda
The Lok Sabha is also expected to consider and pass the Bankers’ Books Evidence Bill, 2026. The proposed law is designed to modernise the legal framework governing evidence derived from bankers’ records by bringing it in line with the growing use of digital banking systems and electronic financial transactions.
The legislation is intended to update existing legal provisions so that they better reflect present-day banking practices, where digital records have become central to financial operations and evidence management.
Before concluding the day’s proceedings, the House will also take up matters listed under Rule 377. After these submissions, members will continue with the remaining legislative business scheduled for the session, covering financial proposals as well as other pending parliamentary matters.