What is the ITR-7 Form?
ITR-7 is filed when persons including companies fall into section 139(4A) or section 139 (4B) or section 139 (4C) or section 139 4(D).
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 decrease Statement Form 26AS.
E-filing audit reports
If the assessee is responsible for Audit u/s 44AB and therefore the accounts are audited by an accountant, the small print of such audit report alongside the date of furnishing it to the department has got to be filled under the top “Audit Information.”
Who is eligible to file the ITR-7 Form?
Return under section 139(4A) is required to be filed by everyone in receipt of income derived from property held under trust or other legal obligation wholly for charitable or religious purposes or partially just for such purposes.
Return under section 139(4B) is required to be filed by a party if the entire income without giving effect to the provisions of section 139A exceeds the utmost amount which isn’t chargeable to income-tax.
Return under section 139(4C) is required to be filed by every
scientific research association ;
news agency ;
association or institution mentioned in section 10(23A);
institution mentioned in section 10(23B);
fund or institution or university or other institution or any hospital or other clinic .