New Delhi: The Lok Sabha on Thursday will consider three key Bills for consideration and passing -- that on regularisation of unauthorised colonies here, besides one on Income Tax amendment and another on industrial dispute.

The National Capital Territory of Delhi (Recognition of Public Rights of Residents in Unauthorised Colonies) Bill, 2019 Bill will be moved by Union Minister Hardeep Singh Puri. He had introduced it on Tuesday.

The Bill is likely to benefit around 40 lakh residents in Delhi.

It will provide special provision for the national capital by recognising the property rights of ownership or transfer or mortgage in favour of residents of such colonies who are possessing properties on the basis of power of attorney, agreement to sale, Will, possession letter, or any other document, including documents evidencing payment of consideration.

Union Minister Santosh Gangwar will move the Industrial Relations Code, 2019 Bill to consolidate and amend the laws relating to trade unions,conditions of employment in industrial establishment or undertaking, investigation and settlement of industrial disputes.

The Taxation Laws (Amendment), Bill 2019 will be moved by Union Finance Minister Nirmala Sitharaman. The Bill seeks to amend the Income Tax Act 1961 and the Finance (No. 2) Act, 2019.