On 25 March 2026, India's Lok Sabha (lower house of Parliament) approved the Finance Bill 2026, with some amendments, which must now be approved by the Rajya Sabha (upper house). The Finance Bill 2026 provides for the implementation of the Union Budget for 2026-2027, including measures for the implementation of the new Income Tax Act 2025 from 1 April 2026 (previous coverage). With respect to taxation, the main amendments to the Finance Bill 2026 reportedly concern changes in the treatment of…