SAG Infotech Official Tax Blog

The Central Board of Direct Taxes (CBDT), acting on behalf of the Central Government, has issued a new tax relief measure through Notification No. 112/2026, dated August 11, 2026. Under this notification, the District Legal Service Authority in Panchkula has been granted an income-tax exemption under Section 10(46) of the Income-tax Act, 1961. Notably, this […]

The Parliamentary Committee on Public Undertakings (CoPU) has highlighted the declining market share of public sector insurers. In response, the committee has urged the Insurance Regulatory and Development Authority of India (IRDAI) to expedite the implementation of the Risk-Based Capital (RBC) framework. Additionally, they recommended that the government consider rationalisi...

Andhra Pradesh is leading in the usage of Artificial Intelligence (AI) and data analytics for tax administration. It serves as an example for other states, the GST Council mentioned. From the GST Council Secretariat, a delegation visited the State Commercial Taxes Department in Amaravati to examine the State government’s use of AI in tax administration. […]

The Income Tax Department on the e-filing portal has allowed the online filing utility for ITR-7 for Assessment Year (AY) 2026-27. It authorises eligible taxpayers to file their income tax returns electronically. It has arrived as a significant relief for trusts, charitable institutions, political parties, research associations, educational institutions, hospitals, and other ...

On 28 July, the Kerala High Court said that a taxpayer should not be refused the statutory benefit of ITC u/s 16(5) of the Central Goods and Services Tax (CGST) Act only because it did not submit a rectification application within the due date stipulated under the Central Board of Indirect Taxes and Customs (CBIC). […]