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Key amendments to Finance Bill, 2026 at enactment stage
The Finance Bill, 2026 (FB 2026 or Bill) was presented by the Hon’ble Finance Minister (FM) Nirmala Sitharaman on 1 February 2026[1] which proposed amendments to both existing Income-tax Act 1961 (ITA 1961) and new Income-tax Act 2025 (ITA 2025). ITA 2025 shall take effect from 1 April 2026, and ITA 1961 shall be repealed from that date. While moving the Bill for approval by the Lok Sabha[2] on 25 March 2026, the FM introduced amendments to FB 2026 (Amended FB 2026). The amendments intend to address certain ambiguities/uncertainties arising from the proposals as contained in the Bill together with certain new proposals. Further, parallel amendments are introduced in ITA 2025 which are operative from 1 April 2026.
This alert covers the key amendments related to income taxes only.
[1] Refer our consolidated tax and policy alerts on tax and policy amendments on Budget 2026 dated 1 February 2026
[2] The lower house of parliament