Parliament passed the Taxation and Other Laws (Amendment) Bill, 2026, with Finance Minister Nirmala Sitharaman clarifying that the legislation does not impose any tax or transaction charge on UPI payments. The Bill also seeks to attract foreign investment, promote domestic electronics manufacturing and ease operations for foreign cloud companies and fund managers in India.
Parliament passed the Taxation and Other Laws (Amendment) Bill, 2026, with Finance Minister Nirmala Sitharaman clarifying that the legislation does not impose any tax or transaction charge on UPI payments. The Bill also seeks to attract foreign investment, promote domestic electronics manufacturing and ease operations for foreign cloud companies and fund managers in India.
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