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The Economic Times

Economy / The Economic Times

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Parliament clears taxation bill, Sitharaman says UPI transactions to remain free

Parliament has passed the Taxation and other Laws (Amendment) Bill. Finance Minister Nirmala Sitharaman confirmed UPI will remain free for consumers. The legislation removes the linkage between payment systems and income tax. It also provides legal backing to modify zero-MDR frameworks for digital transactions. The bill aims to attract foreign capital and promote domestic manufacturing.

10 Aug 2026 5:53 pm