ITR-7 Return Filing

ITR-7 Return Filing

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Income tax return filing for a taxpayer with taxable income of less than Rs.10 lakhs.


Income tax return filing for a taxpayer with taxable income of more than Rs.10 lakhs.


Income tax return filing for a taxpayer with taxable income of more than Rs.25 lakhs.

ITR 7 Form Filing

Completion of the ITR 7 forms is done by companies that provide income from community-based or religious services. Properties held under trust or legal obligation in parts or wholly included in the category.

ITR taxpayers can complete ITR 7 Forms by providing refunds in bad form, portable paper forms, or digital signature mode, or delivery of refund confirmation via ITR Form V.

The ITR 7 Form is a file if individual and company fall under Section 139 (4A) or Section 139 (4B) or Section 139 (4C) or Section 139 (4D).

Eligibility for completing Form ITR 7

Who is eligible to complete Form ITR 7?

Step: 1 ITR 7 u / s 139 (4A)

Persons who have income from an area used exclusively for charitable or religious purposes and such property will be held under a legal obligation or trust.

Step: 2 ITR 7 u / s 139 (4B)

This category applies directly to political parties. Under Article 13 A political parties are free to file a tax return as long as the parties complete the annual returns on Form ITR 7.

Step: 3 ITR 7 u / s 139 (4C)

Under this ITR 7 will be rolled out by the following companies:

  •       An organization that conducts scientific research.
  •       News Center
  •       Organization u / s 10 (23A)
  •       Other registered centers are / s 10 (23B)

Step: 4 ITR 7 u / s 139 (4D)

Schools, colleges, and institutions are not covered under any section of the Income Tax Act and are required to complete ITR 7 under this regulation.

Step: 5 ITR 7 u / s 139 (4E)

Completing the refund of income generated by the business trust.

Step: 6 ITR 7 u / s 139 (4F)

It must be deposited by any investment fund referred to in section 115 UB. There is no need to provide reimbursement for income or loss under any of the provisions of this section.

Schedule-I: Details of amounts accumulated/ set apart within the meaning of section 11(2) in last year’s viz., previous years relevant to the current assessment year.

Schedule-J: Statement showing the investment of all funds of the Trust or Institution as on the last day of the previous year.

Schedule-K: Statement of particulars regarding the Author(s)/ Founder(s)/ Trustee(s)/ Manager(s), etc., of the Trust or Institution.

Schedule-LA: Details in case of a political party.

Schedule-ET: Details in case of an Electoral Trust

Schedule-HP: Computation of income under the head Income from House Property.

Schedule-CG: Computation of income under the head ITR.

Schedule-OS: Computation of income under the head Income from other sources.

Schedule-VC: Details of Voluntary Contributions received

Schedule-OA: General information about business and profession

Schedule-BP: Computation of income under the head “profit and gains from business or profession

Schedule-CYLA: Statement of income after set off of current year’s losses

Schedule-MAT: Computation of Minimum Alternate Tax payable under section 115JB (n)

Schedule-MATC: Computation of tax credit under section 115JAA

Schedule AMT: Computation of Alternate Minimum Tax payable under section 115JC (p)

Schedule AMTC: Computation of tax credit under section 115JD

Schedule-SI: Statement of income which is chargeable to tax at special rates

Schedule-IT: Statement of payment of advance-tax and tax on self-assessment.

Schedule-TDS: Statement of tax deducted at source on income other than salary.

Schedule-TCS: Statement of tax collected at source

Schedule FSI: Details of income accruing or arising outside India

Schedule TR: Details of Taxes paid outside India

Schedule FA: Details of Foreign Assets

Form to complete ITR Form 7

What is the sequence of completing Form ITR 7?

The Income Tax Department advised the auditors to follow the sequence mentioned below when completing the Income Tax Return.

  •       Part A
  •       Part B
  •       Schedules
  •       Verification.

Enter the required information in the verification document and remove the invalid and this confirmation must be digitally signed before giving the final refund.

The signer is required to state his or her name in the business that is required to return it.

Procedure to file ITR 7 returns

How to file ITR 7 returns?
  • ITR 7 can be filed with the Income Tax Department in the following ways:

    •       By furnishing the returns in the electronic manner using the digital signature certificate
    •       By transmitting the data in the return and thereafter submitting the verification of the return in the ITR V Return Form

    After filing the return the assessee is required to print the copies of the ITR V Form. A copy of the ITR V which is duly signed by the assessee has to be sent by the ordinary post to us

    The other copy can be retained by the assessee for his record.

How to fill the verification document?

The required information is to be filled in the verification document. Strikeout whatever is not applicable. Pleasure ensures that the verification has been signed before the returns are furnished. Choose the designation/ capacity of the person signing the return.

It is to be noted that any person who is making a false statement in return or accompanying the schedules should be liable to be prosecuted under the section which can lead to imprisonment and also a fine.

E filing audit reports

If the assessee is liable for auditing u/s 44AB and the accounts have been audited by the accountant then the details of such audit reports along with the furnishing date are to be sent to the income tax department. It is to be under the head “Audit Information”

No annexures required

No documents are to be attached with this return while filing ITR 7 Form.

The Taxpayers should match the taxes that are deducted/ collected paid by or on behalf of them with their Tax Credit statement form 26AS.

Instructions to follow when completing Form ITR 7.

The Revenue Department has identified a number of ways in which taxpayers can apply ITR-7:

  •       All details must be completed correctly as indicated otherwise the return will be invalid or invalid.
  •       Tax-related figures should be shortened to the nearest tenths of a rupee.
  •       Some figures should be summarized in one nearby rupee.
  •       Negative numbers or missing numbers will be marked “-” before that number unless otherwise provided.
  •       “Nil” will be written for Numbers with zero or missing value.

·        If something does not work for the inspector, write “NA” against it.

Frequently Asked Questions

Fill in the full information in the confirmation document by specifying what is not working for the business. Verification must be properly signed before completing the return.

Yes, if an entity requires its account to be audited by s / s 44AB and its accounts to be audited by a chartered accountant, that entity must provide information to ITR-7 such as the audit report and the date of submission to the department.

Any person who makes false statements on returns or schedules is liable to prosecute / s 277 of the Income Tax Act 1961 with imprisonment and a fine.

ITR-7 cannot be completed by the following taxpayers: Individuals, Companies, and HUF Those organizations have completed a refund with the new ITR-5 and ITR-6

Download Tax Return Forms In the following steps: Visit India’s official Income Tax website Completion Click on the Downloads tab on the homepage. A list of forms will be available thereafter. Select form in excel sheet or java application. Continue to fill out the download form to complete the refund

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