ITR-7

ITR-7 is an income tax return form designed for entities such as firms, companies, local authorities, associations of persons (AOPs), and artificial judicial persons. It is used when these entities claim exemptions under specific sections of the Income Tax Act.

For persons including companies required to furnish returns under section 139(4A) or section 139(4B) or section 139(4C) or section 139(4D) or section 139(4E) or section 139(4F).

  • Return under section 139(4A) is required to be filed by every person in receipt of income derived from property held under trust or other legal obligation wholly for charitable or religious purposes or in part only for such purposes.
  • Return under section 139(4B) is required to be filed by a political party if the total income without giving effect to the provisions of section 139A exceeds the maximum amount, not chargeable to income-tax.
  • Return under section 139(4C) is required to be filed by every – Scientific research association, News agency, Association or institution referred to in section 10(23A), Institution referred to in section 10(23B), Fund or institution or university or other educational institution or any hospital or other medical institution.
  • Return under section 139(4D) is required to be filed by every university, college or other institution, which is not required to furnish a return of income or loss under any other provision of this section.
  • Return under section 139(4E) must be filed by every business trust which is not required to furnish a return of income or loss under any other provisions of this section.
  • Return under section 139(4F) must be filed by any investment fund referred to in section 115UB. It is not required to furnish a return of income or loss under any other provisions of this section.

No annexures required

No document (including TDS certificate) should be attached with this return form while filing ITR-7.
Taxpayers are advised to match the taxes deducted/collected/paid by or on behalf of them with their Tax Credit Statement Form 26AS..

E-filing audit reports

If the assessee is liable for Audit u/s 44AB and the accounts have been audited by an accountant, the details of such audit report along with the date of furnishing it to the department has to be filled under the head “Audit Information.”

Who is eligible to file the ITR-7 Form?

  • Return under section 139(4A) is required to be filed by every person in receipt of income derived from property held under trust or other legal obligation wholly for charitable or religious purposes or in part only for such purposes.
  • Return under section 139(4B) is required to be filed by a political party if the total income without giving effect to the provisions of section 139A exceeds the maximum amount which is not chargeable to income-tax.
  • Return under section 139(4C) is required to be filed by every - scientific research association, news agency, association or institution referred to in section 10(23A), institution referred to in section 10(23B), fund or institution or university or other educational institution or any hospital or other medical institution.
  • Return under section 139(4D) is required to be filed by every university, college or other institution, which is not required to furnish return of income or loss under any other provision of this section.
  • Return under section 139(4E) must be filed by every business trust which is not required to furnish return of income or loss under any other provisions of this section.
  • Return under section 139(4F) must be filed by any investment fund referred to in section 115UB. It is not required to furnish return of income or loss under any other provisions of this section.

You don’t even have to read this guide

The Cleartax software automatically selects your ITR form. E-file without worries.

How do I verify my ITR-7?

Verification of your ITR happens instantly, which saves you from the delay in transit of ITR-V. You can e-Verify using any of the various methods - Aadhaar OTP / EVC (using pre-validated bank / demat account) / Net Banking / Digital Signature Certificate (DSC).

How do I claim exemption in ITR-7?

Exemption amount allowable should be entered in the relevant column of Part B1 of Part BTI If exemption under explanation 11(1) – Deemed Application is claimed –Form 9A has to be filed within the due date specified u/s 139(1) If exemption u/s 11(2) – for Accumulation is claimed –Form 10 has to be filed within the due.

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