Economy
President Murmu Grants Assent to Taxation and Payment Systems Amendments
The Hindu1h
THE BRIEF
1
President Droupadi Murmu granted assent on August 17, 2026, to the Taxation and Other Laws (Amendment) Act, 2026, and an amendment to the Payment and Settlement Systems Act, 2007.
2
The taxation law extends income tax exemptions for foreign electronics manufacturers until 2040-41 and provides process certainty for foreign cloud companies using Indian data centers.
3
The payment systems amendment grants the government legal authority to modify the zero-MDR framework for UPI and RuPay transactions, with future charges to be determined by an NPCI-led committee.