The Taxation and Other Laws AMDT Bill 2026 and The Appropriation No 3 Bill 2026

jftLVªh lañ Mhñ ,yñ—¼,u½04@0007@2003—26 REGISTERED NO. DL—(N)04/0007/2003—26 सी.जी.-डी.xएxलx.G-अI.D-0H4x0x8x2026-275193 CG-DL-E-04082026-275193 xxxGIDExxx vlk/kkj.k EXTRAORDINARY Hkkx II — [k.M 2 PART II — Section 2 izkf/kdkj ls izdkf'kr PUBLISHED BY AUTHORITY lañ 19] ubZ fnYyh] eaxyokj] vxLr 4] 2026@Jko.k 13] 1948 ¼'kd½ No. 19] NEW DELHI, TUESDAY, AUGUST 4, 2026/SRAVANA 13, 1948 (Saka) bl Hkkx esa fHkUu i`"B la[;k nh tkrh gS ftlls fd ;g vyx ladyu ds :i esa j[kk tk ldsA Separate paging is given to this Part in order that it may be filed as a separate compilation.

LOK SABHA LOK SABHA ___________ ———— ThTeh ef ofolllloowwiinngg BBiilllsls w wereer ein itrnotdroucdeudc iend L ionk L Soakbh Saa obnh 4at ho An u4gtuhs tA, 2u0g2u6s:t— 2026:- Bill No. 150 of 2026 BILL No. 150 OF 2026 A Bill further to amend the Payment and Settlement Systems Act, 2007 and the A Bill further to amend the Payment andSettlement Systems Act, 2007and the Income-tax Income-tax Act, 2025, and to amend the Finance Act, 2026.

Act,2025, and to amend the Finance Act,2026.

BE it enacted by Parliament in the Seventy-seventh Year of the Republic of India

asfollows:— CHAPTERI PRELIMINARY 5 1. (1) This Act may be called the Taxation and Other Laws (Amendment) Short title and commencement.

Act, 2026.

(2) Save as otherwise provided in this Act, it shall be deemed to have come into force on the 1st day of April, 2026.2 THE GAZETTE OF IND2I A EXTRAORDINARY [Part II—

CHAPTER II AMENDMENT TO THE PAYMENT AND SETTLEMENT SYSTEMS ACT, 2007 Amendment of 2. In the Payment and Settlement Systems Act, 2007, in section 10A, for the Act 51 of 2007. words, figures and letters “the electronic modes of payment prescribed under

section 269SU of the Income-tax Act, 1961”, the words “one or more electronic 5 43 of 1961. modes of payment as the Central Government may, by notification, specify” shall be substituted with effect from the date of publication of this Act in the Official Gazette.

CHAPTER III AMENDMENTS TO THE INCOME-TAX ACT, 2025 Substitution of 3. In the Income-tax Act, 2025 (hereafter in this Chapter referred to as the principal 10 30 of 2025. new Schedule Act), for Schedule I, the following Schedule shall be substituted, namely:— for Schedule I.

‘SCHEDULE I [See section 9(12)] CONDITIONS FOR CERTAIN ACTIVITIES NOT TO CONSTITUTE BUSINESS CONNECTION IN INDIA 15

1. (1) The eligible investment fund referred to in section 9(12) shall be a fund established or incorporated or registered outside India, which collects funds from its members for investing it for their benefit, and fulfils the

following conditions:—

(a) the fund is not a person resident in India; 20

(b) the fund is—

(i) a resident of a country or a specified territory with which an agreement referred to in section 159(1) or (2) has been entered into; or

(ii) established or incorporated or registered in a country or 25 a specified territory as the Central Government may, by

notification, specify;

(c) the aggregate participation or investment in the fund, directly by persons resident in India, does not exceed 5% of the corpus of the fund as on the 1st April and the 1st October of the tax year, and— 30

(i) for the purposes of calculation of such aggregate participation or investment in the fund, any contribution up to twenty-five crore rupees made by the eligible fund manager during the first three years of operation of the fund shall not be taken into account; or 35

(ii) where the said aggregate participation or investment in the fund exceeds 5% on the 1st April or the 1st October of the tax year, the condition mentioned in this clause shall be deemed to be satisfied, if it is satisfied within four months of the 1st April or the 1st October, as the case may be, of such tax year; 40

(d) the fund shall not carry on or control and manage, directly or indirectly, any business in India; and

(e) no person acting on behalf of the fund engages in any activity which constitutes a business connection in India other than the activities undertaken by the eligible fund manager on its behalf.

45

(2) The eligible fund manager referred to in section 9(12), in respect of an eligible investment fund, shall be any person who is engaged in the activity

of fund management and fulfils the following conditions:—Sec. 2] THE GAZETTE OF IND3I A EXTRAORDINARY 3

(a) the person is not an employee of the eligible investment fund or a connected person of such fund;

(b) the person is registered as a fund manager or an investment advisor in accordance with the specified regulations;

5 (c) the person is acting in the ordinary course of his business as a fund manager; and

(d) the person along with his connected persons shall not be entitled, directly or indirectly, to more than 20% of the profits accruing or arising to the eligible investment fund from the transactions carried 10 out by the fund through the fund manager.

(3) Every eligible investment fund shall, in respect of its activities in a tax year, furnish within ninety days from the end of the tax year,––

(a) a statement in the prescribed form to the prescribed income-tax authority containing information relating to the fulfilment of the 15 conditions specified in this Schedule; and

(b) provide such other relevant information or documents, as may be prescribed.

(4) The provisions of this Schedule shall apply as per such guidelines and in such manner, as the Board may prescribe in this behalf.

20 2. In this Schedule, the expressions—

(a) “connected person” shall have the meaning assigned to it in

section 184(5);

(b) “corpus” means the total amount of funds raised for the purpose of investment by the eligible investment fund as on a particular date;

25 (c) “specified regulations” means––

(i) the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013; or

(ii) the Securities and Exchange Board of India (Portfolio Managers) Regulations, 2020; or 30 (iii) such other regulations made under the Securities and Exchange Board of India Act, 1992 (15 of 1992), as may be notified in this behalf.’.

4. In Schedule IV to the principal Act, in the Table,— Amendment of Schedule IV.

(a) in serial number 13A, in column D,— 35 (i) for clause (d), the following clause shall be substituted, namely:— “(d) the contract manufacturer produces specified electronic goods on behalf of the foreign company for a consideration; and”;

(ii) in clause (e), for the figures “2030-2031”, the figures “2040-2041” shall be substituted;

40 (b) in serial number 13C, in column D, clause (a) shall be omitted;

(c) after serial number 13C and entries relating thereto, the following shall be inserted, namely:—4 THE GAZETTE OF IND4I A EXTRAORDINARY [Part II— A B C D “13D. Any interest on A Foreign Such exemption shall Government Institutional Investor. be subject to furnishing security, and any of information in such capital gains arising form and manner, as may 5 from the sale, be prescribed.

exchange or transfer of such Government security.

13E. Any interest on Bank for Such exemption shall 10 Government International be subject to furnishing security, and any Settlements. of information in such capital gains arising form and manner, as may from the sale, be prescribed.”;

exchange or transfer 15 of such Government security.

(d) after serial number 13E as so inserted and the entries relating thereto, the following shall be inserted, with effect from the 1st day of October, 2026,

namely:— 20 A B C D “13F. Any income on A foreign (a) The sale of rough sale of rough company–– diamonds is carried out in diamonds. any notified special zone

(a) engaged in as referred to in 2 5 the business of

section 9(9)(c)(ii)(C); diamond mining; or

(b) such foreign

(b) being a company maintains and sightholder of the furnishes such company referred to information in such form 30 in clause (a); or and manner, as may be prescribed; and

(c) being a broker, aggregator

(c) such exemption or a tender and shall be available up to auction entity the tax year ending on the 35 connected with sale 31st March, 2041. of rough diamonds.

13G. Any income A foreign (a) Such exemption accruing or arising company, which shall be available on sale on account of stores components of components by such 40 storage of in a warehouse in a foreign company;

components in a custom bonded area

(b) such contract warehouse in a for providing them manufacturer produces custom bonded to a contract electronic goods on 45 area. manufacturer to be behalf of any foreign used for company; manufacturing of specified electronic goods.

50Sec. 2] THE GAZETTE OF IND5I A EXTRAORDINARY 5 A B C D

(c) such exemption shall be subject to furnishing of information in such form and manner, 5 as may be prescribed; and

(d) such exemption shall be available up to the tax year ending on the 10 31st March, 2041.”;

(e) after Note 2 below the Table, the following Note shall be inserted,

namely:— ‘Note 2A: For the purposes of Sl. No. 13A, the expression “specified electronic goods” means— 15 (a) mobile phones; or

(b) laptops, all-in-one personal computers and tablets; or

(c) servers and ultra small form factor (USFF); or

(d) sub-assemblies to the finished goods mentioned in clauses (a) to (c); or 20 (e) hearables and wearables and accessories related to the finished goods mentioned in clauses (a) to (c).’;

(f) in Note 3 below the Table, for clause (c), the following clause shall be substituted, namely:— ‘(c) “specified data centre” means a data centre which— 25 (i) is operated by an Indian company, whether by way of owning or leasing; and

(ii) satisfies such other conditions as may be prescribed.’;

(g) after Note 3 below the Table, the following Note shall be inserted,

namely:— ‘Note 4: For the purposes of Sl. Nos. 13D and 13E,–– 30

(a) “Bank for International Settlements” means the Bank for International Settlements established at the Hague Conference in 1930 and headquartered at Basel, Switzerland;

(b) “Foreign Institutional Investor” shall have the meaning 35 assigned to it in section 210(6)(a);

(c) “Government security” shall have the same meaning as assigned to it in section 2(f) of the Government Securities Act, 2006 (38 of 2006).’;

(h) after Note 4 as so inserted, the following Notes shall be inserted with effect 40 from the 1st day of October, 2026, namely:—6 THE GAZETTE OF IND6I A EXTRAORDINARY [Part II— ‘Note 5: For the purposes of Sl. No. 13F, the expression “rough diamond” means any diamond that is unworked or simply sawn, cleaved or bruted and falling under the Tariff Heading 7102 10, 7102 21, or 7102 31 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and accompanied by the Kimberley Process Certificate. 5 Note 6: For the purposes of Sl. No. 13G,—

(a) “contract manufacturer” means an Indian company which produces specified electronic goods on behalf of any foreign company in a custom bonded area;

10

(b) “custom bonded area” means a warehouse as referred to in

section 65 of the Customs Act, 1962 (52 of 1962); and

(c) “specified electronic goods” shall have the meaning assigned to it in Note 2A.’.

Amendment of 5. In Schedule V to the principal Act, in the Table, in serial number 5, in 15 Schedule V. column D, clause (b) shall be omitted.

CHAPTER IV AMENDMENT TO THE FINANCE ACT, 2026 Amendment of 6. In section 3 of the Finance Act, 2026,— Act 4 of 2026.

(a) in sub-section (4), in clause (b), in the Table, for serial number 9 and 20 the entries relating thereto, the following shall be substituted:— A B C D “9. 200 or 201. Every domestic 10%. company other than a special purpose vehicle 25 referred to in Schedule V [Note 2].

9A. 200 or 201. Every domestic 25%.”; company, being a special purpose vehicle referred to 30 in Schedule V [Note 2].

(b) in sub-section (12), in clause (b), in the Table, for serial number 9 and the entries relating thereto, the following shall be substituted:— A B C D “9. 200 or 201. Every domestic 10%. 35 company other than a special purpose vehicle referred to in Schedule V [Note 2].

9A. 200 or 201. Every domestic 25%.”. 40 company, being a special purpose vehicle referred to in Schedule V [Note 2].Sec. 2] THE GAZETTE OF IND7I A EXTRAORDINARY 7

CHAPTER V MISCELLANEOUS Ord. 2 of 2026. 7. (1) The Income-tax (Amendment) Ordinance, 2026 is hereby repealed. Repeal and saving.

(2) Notwithstanding such repeal, anything done or any action taken under the 5 provisions of the said Ordinance, shall be deemed to have been done or taken under the corresponding provisions of this Act.8 THE GAZETTE OF INDIA EXTRAORDINARY [Part II— STATEMENT OF OBJECTS AND REASONS The Income-tax Act, 2025 (the said Act) was enacted to consolidate and amend the law relating to income-tax, which came into force on the 1st April, 2026.

2. In recent months, on account of evolving geopolitical developments and related disruptions in international trade and supply chains, the global economic landscape has undergone considerable uncertainty. Hence, a need has arisen to undertake certain immediate taxation measures with a view to mitigate the impact of external economic shocks, ensure stability in the domestic economy, and support key sectors affected by the prevailing global conditions, which require certain amendments to the provisions of the said Act to be carried out on an urgent basis in the larger public interest.

3.As Parliament was not in session and circumstances existed which rendered it necessary to take immediate action, the President, in exercise of the powers conferred by clause (1) of article 123 of the Constitution, promulgated the Income-tax (Amendment) Ordinance, 2026 on the 5th June, 2026.

4.The Ordinance was promulgated with the objective of mitigating the impact of external economic shocks, ensuring stability in the domestic economy and supporting key sectors affected by the prevailing global conditions by amending certain provisionsof the Act. Subsequent policy assessment in view of representations received from stakeholders after the enactment of the Finance Act, 2026 has indicated that, while the objective sought to be achieved through the Ordinance continues to remain relevant, additional taxation measures are necessary to comprehensively achieve the same objective. Further, having regard to the continuing global developments and the need for a timely and coherent response, it is considered appropriate to incorporate these measures in the present Bill itself.

5. In accordance with sub-clause (a) of clause (2) of article 123 of the Constitution, the Income-tax (Amendment) Ordinance, 2026 is to be replaced by an Act of Parliament, and accordingly, it is proposed to introduce the Taxation and Other Laws (Amendment) Bill, 2026 in Parliament. Further, in order to provide ease of doing business and tax certainty, as reasoned above, few other amendments are also proposed as part of the said Bill.

6.The Bill seeks to achieve the above objectives.

NEW DELHI; NIRMALA SITHARAMAN.

The31st July, 2026.

8Sec. 2] THE GAZETTE OF INDIA EXTRAORDINARY 9 FINANCIAL MEMORANDUM This Bill seeks to replace the Income-tax (Amendment) Ordinance, 2026 and further to amend the Income-tax Act, 2025 and to amend the Finance Act, 2026 which is administered by the Department of Revenue through Central Board of Direct Taxes, and to amend the Payment and Settlement Systems Act, 2007 which is administered by the Department of Financial Services. Thus, no additional expenditure is contemplated on the enactment of the Bill.

910 THE GAZETTE OF INDIA EXTRAORDINARY [Part II— MEMORANDUM REGARDING DELEGATED LEGISLATION The provisions of the Bill, inter alia, empower the Board to make rules for various purposes as specified therein.

Clause 4 of the Bill seeks to amend Schedule IV of the Income-tax Act, 2025 by inserting four line items as Sl. Nos. 13D, 13E, 13F and 13G.

Sl. Nos. 13D and 13E provide for tax exemption on interest income on government security and also tax exemption on any capital gains arising from the sale, exchange or transfer of Government security in the hands of Foreign Institutional Investor and Bank for International Settlements. Column D of the Table in amended Schedule IV against Sl. Nos. 13D and 13E empowers the Board to provide by rules the form and manner wherein information has to be furnished by the Foreign Institutional Investor and Bank for International Settlements to claim such exemption.

Sl. No. 13F provides for tax exemption on income of sale of rough diamonds, in the hands of a foreign company, engaged in the business of diamond mining or a foreign company functioning as a sightholder, broker, aggregator or a tender and auction entity for such business, for a period of fifteen years up to tax year ending on 31st March, 2041. Column D of the Table in amended Schedule IV against Sl.

No. 13F empowers the Board to provide by rules the form and manner wherein information has to be maintained and furnished by such foreign company to claim such exemption.

Further, Sl. No. 13G provides for tax exemption on income accruing or arising on account of storage of components in a warehouse in a custom bonded area, in the hands of a foreign company which stores components in a warehouse in a custom bonded area for providing them to a contract manufacturer to be used for manufacturing of specified electronic goods, for a period of fifteen years up to tax year ending on 31st March, 2041. Column D of the Table in amended ScheduleIV against Sl. No. 13G empowers the Board to provide by rules the form and manner wherein information has to be furnished by such foreign company to claim such exemption.

10Sec. 2] THE GAZETTE OF INDIA EXTRAORDINARY 11 Memorandum explaining modifications contained in the Bill to replace the Income-tax (Amendment) Ordinance,2026 The Taxation and Other Laws (Amendment) Bill, 2026, which seeks to replace the Income-tax (Amendment) Ordinance, 2026 with an Act of Parliament in accordance with Article 123(2) of the Constitution of India, inter alia, proposes to make the following amendments to the Income-tax Act, 2025, the Finance Act, 2026 and the Payment and Settlement Systems Act, 2007, namely:—

(a) in clause 2 of the Bill, in the Payment and Settlement Systems Act, 2007, amendment of section 10A in order to remove the reference of provision of Income-tax Act and also to provide that no bank or system provider shall impose, whether directly or indirectly, any charge upon a person making or receiving a payment by using one or more electronic modes of payment as may be notified by the Central Government;

(b) in clause 3 of the Bill, in the Income-tax Act, 2025, amendment of Schedule I to rationalise the conditions for the eligible investment fund and eligible fund manager in order to promote fund management activity and provide tax certainty;

(c) in clause 4 of the Bill, in the Income-tax Act, 2025, in Schedule IV, in the Table—

(i) amendment of Sl. No. 13A to provide longer period of exemption till tax year 2040-41 to provide certainty and also to make certain consequential amendments;

(ii) amendment of Sl. No. 13C to remove the condition for

notification of foreign company and specified data centre and also to allow the lease model of ownership of specified data centre to be operated by Indian company for the purposes of ease of doing business and also to make certain consequential amendments;

(iii) insertion of new serial number 13F and respective clauses to provide exemption to a foreign company, engaged in the business of diamond mining or a foreign company functioning as a sightholder, broker, aggregator or a tender and auction entity for such business, for a period of fifteen years up to tax year ending on 31st March, 2041 and also to make certain consequential amendments;

(iv) insertion of new serial number 13G and respective clauses to provide exemption to a foreign company which stores components in a warehouse in a custom bonded area for providing them to a contract manufacturer to be used for manufacturing of specified electronic goods, for a period of fifteen years up to tax year ending on 31st March, 2041 and also to make certain consequential amendments;

(d) in clause 5 of the Bill, in the Income-tax Act, 2025, in Schedule V, in serial number 5, in column D, omission of clause (b) to provide exemption on dividend received by a unit holder, even where special purpose vehicle of the business trust has exercised the option under section 200 to move to new tax regime;

(e) in clause 6 of the Bill, in the Finance Act, 2026, in section 3, amendment of sub-section (4)(b) and (12)(b) to levy an additional surcharge of fifteen percent on special purpose vehicle where it moves to new tax regime.

1112 THE GAZETTE OF INDIA EXTRAORDINARY [Part II— Bill No. 149 of 2026 BILL No. 149 OF 2026 A Bill to provide for the authoB rI iL saL ti N ono . o1 f4 9 a O ppF r o2 p0 r2 i6 ation of moneys out of the A Bill to provide for the authorisation of appropriation of moneys out of the Consolidated A BillCtoo npsroolvididaete fdo rF tuhned a ouft hInodriisaa ttoio mn eoeft a tphpe raomproiuantitosn s poef nmt oonne cyesr otauitn o sf etrhvei cCeos ndsuorliindga ttehde Fund of India to meet the amounts spent on certain services during the financiFalu yneda ro ef nIdneddi ao nt oth em 3e1est t tdhaey aomf Mouanrtcsh ,s 2p0e2n3t , oinn ecxecretsasi no f stehrev aicmeos udnutsr ignrga nttheed financial year ended on the 31st day of March, 2023, in excess of the amounts for thofsien asenrcviaicle yse aanr de nfodre dth oant ytheea r3.1st day of March, 2023, in excess of the amounts granted for those services and for that year. granted for those services and for that year.

BE it enacted by Parliament in the Seventy-seventh Year of the Republic of BE it enacted by Parliament in the Seventy-seventh Year of the Republic of

India as follows:— India as follows:—

1.This Act may be called the Appropriation (No. 3) Act, 2026. Short title. 1.This Act may be called the Appropriation (No. 3) Act, 2026. Short title.

2. From and out of the Consolidated Fund of India, the sums specified in Issue of Rs. 2. From and out of the Consolidated Fund of India, the sums specified in Issue of Rs.

5 c tho olu um san n d3 s io xf t yt -h se e vS ench ce rd ou rele , , foa rm tyo -u fin vt ein lg a ki hn , nth ine ea tyg -g thre rg eea t te h oto u sath ne d , s tu wm o ho uf nf dif rt ey d- f ao nu dr o C54 u o0 t n 6 o s7 f o , l4 t ih5 de, a9 t3 e, d2 31 5 tc ho olu um san n d3 s io xf t yt -h se e vS ench ce rd ou rele , , foa rm tyo -u fin vt ein lg a ki hn , nth ine ea tyg -g thre rg eea t te h oto u sath ne d , s tu wm o ho uf nf dif rt ey d- f ao nu dr 5 o C4 u o0 t n 6 o s7 f o , l4 t ih5 de, a9 t3 e, d2 31 thirty-one rupees shall be deemed to have been authorised to be paid and applied to Fund of India to thirty-one rupees shall be deemed to have been authorised to be paid and applied to Fund of India to meet the amounts spent for defraying the charges in respect of the services specified meet certain meet the amounts spent for defraying the charges in respect of the services specified meet certain in column 2 of the Schedule during the financial year ended on the 31st day of e ex xpce es ns d iture for in column 2 of the Schedule during the financial year ended on the 31st day of e ex xpce es ns d iture for 10 March, 2023, in excess of the amounts granted for those services and for that year. the year ended 10 March, 2023, in excess of the amounts granted for those services and for that year. the year ended on the 31st on the 31st March, 2023. March, 2023.Sec. 2] THE GAZETTE OF IND2I A EXTRAORDINARY 13 2 Appropriation. 3.The sums deemed to have been authorised to be paid and applied from and Appropriation. 3.The sums deemed to have been authorised to be paid and applied from and out of the Consolidated Fund of India under this Act shall be deemed to have been out of the Consolidated Fund of India under this Act shall be deemed to have been appropriated for the services and purposes expressed in the Schedule in relation to the appropriated for the services and purposes expressed in the Schedule in relation to the financial year ended on the 31st day of March, 2023. financial year ended on the 31st day of March, 2023.14 THE GAZETTE OF INDIA EXTRAORDINARY [Part II— THE SCHEDULE (Seesections 2 and 3) 1 2 3 No. Excess of Services and purposes Voted portion Charged portion Total Vote Rs. Rs. Rs.

40 Repayment of Debt Capital .. 53871,00,96,887 53871,00,96,887 85 Ministry of Railways Capital .. 196,44,96,344 196,44,96,344

TOTAL: .. 54067,45,93,231 54067,45,93,231 3Sec. 2] THE GAZETTE OF INDIA EXTRAORDINARY 15 STATEMENT OF OBJECTS AND REASONS This Bill is introduced in pursuance of Article 114(1) of the Constitution of India, read with Article 115 thereof, to provide for the appropriation out of the Consolidated Fund of India of the moneys required to meet the expenditure incurred in excess of the grants made by the Lok Sabha for expenditure of the Central Government, for the financial year ended 31st day of March, 2023.

NIRMALA SITHARAMAN. ———— PRESIDENT’S RECOMMENDATION UNDER ARTICLE 117 OF THE CONSTITUTION OF INDIA ———— [Letter No. 7(1)-B(SD)/2026 dated 31.07.2026 from Smt. Nirmala Sitharaman, Minister of Finance and Corporate Affairs to the Secretary-General, Lok Sabha] The President, having been informed of the subject matter of the Appropriation (No. 3) Bill, 2026 to provide for the authorisation of appropriation of moneys out of the Consolidated Fund of India to meet the amounts spent on certain services during the financial year ended on the 31st day of March, 2023, in excess of the amounts granted for the said services and for that year recommended under clauses (1) and (3) of article 117 of the Constitution, read with clause (2) of article 115 thereof, the introduction of the Appropriation (No. 3) Bill, 2026, in the Lok Sabha and also recommends to the Lok Sabha the consideration of the Bill.

———— UTPAL KUMAR SINGH, Secretary-General.

UTPAL KUMAR SINGH Secretary General UPLOADED BY THE MANAGER, GOVERNMENT OF INDIA PRESS, MINTO ROAD, NEW DELHI–110002 AND PUBLISHED BY THE CONTROLL4E R OF PUBLICATIONS, DELHI–110054.

MGIPMRND—490GI(S4)—04-08-2026.