Parliamentary Proceedings on Taxation, Banking and Tribunal Reforms (10 Aug 2026)
The Rajya Sabha and Lok Sabha were in session on 10 August 2026. Several high‑profile bills were discussed, returned or passed amid heated exchanges between the government and opposition.
Key Developments
- Taxation and Other Laws (Amendment) Bill, 2026 was returned by the Rajya Sabha through a voice vote.
- Finance Minister Nirmala Sitharaman clarified that the bill does not impose any new charge on UPI users and only provides enabling provisions for future notifications.
- The bill proposes tax exemptions for foreign firms storing components for Indian contract manufacturers and for data centres until 2047.
- The Bankers’ Books Evidence Bill, 2026 was passed in the Rajya Sabha by voice vote.
- The Tribunals Reforms Bill, 2026 was introduced in the Lok Sabha amid opposition protests.
- Opposition leaders, including CPI(M) MP John Brittas and Congress MP Priyanka Gandhi, demanded a statement from Home Minister Amit Shah on alleged police excesses during student protests.
Important Facts
• The Finance Minister emphasized that any future MDR on UPI would apply only to high‑value transactions and would not affect small merchants or kirana stores.
• The amendment seeks to attract foreign investment in electronic manufacturing by exempting a 2% tax on gross income for companies storing components for contract manufacturers.
• The data‑centre exemption aims to boost