ITR-7 Form: Eligibility, Due Dates, Filing Process & Download Guide
The ITR-7 Form is specifically designed for persons and entities (including companies) required to file income tax returns under certain provisions of the Income Tax Act. This includes charitable trusts, political parties, educational institutions, and other specified bodies. This article provides a detailed overview of who should file ITR-7, its structure, due dates, recent changes, and how to file and verify the return.
What is the ITR-7 Form?
ITR-7 is an income tax return form applicable to entities required to furnish returns under the following sections of the Income Tax Act:
- Section 139(4A): Trusts and charitable/religious institutions
- Section 139(4B): Political parties
- Section 139(4C): Research institutions, news agencies, and funds
- Section 139(4D): Colleges, universities, and scientific institutions
Who Can File ITR-7?
Entities that must file ITR-7 include:
- Charitable or Religious Trusts (Section 139(4A))
- Political Parties (Section 139(4B))
- Scientific Research Institutions, News Agencies, etc. claiming exemption under Section 10 (Section 139(4C))
- Educational Institutions and Universities (Section 139(4D))
Note: Political parties must compulsorily file ITR-7 using Digital Signature Certificate (DSC).
Due Dates for Filing ITR-7 (AY 2025–26):
ITR-7 Changes for FY 2024–25 (AY 2025–26):
The Central Board of Direct Taxes (CBDT) has introduced key updates in ITR-7 for enhanced reporting and compliance:
Structure of the ITR-7 Form:
The ITR-7 form is structured into 2 main parts and 23 schedules, capturing both income and exempt-related details.
- Part A – General Information: Basic details like PAN, Name, Address, Nature of activities, Registration details under Income Tax or other acts, etc.
- Part B – Income & Tax Computation: Details total income and computation of tax liability.
List of Key Schedules in ITR-7:
Some of the most important schedules include:
Tax Payment Details in ITR-7:
You need to report the following:
- Advance Tax & Self-Assessment Tax
- TDS (Tax Deducted at Source) from various forms (16A, 16B, 16C, etc.)
- TCS (Tax Collected at Source)
How to File ITR-7 Form?
Filing of ITR-7 must be done online only via the Income Tax e-Filing Portal. It can be done in two ways:
- With Digital Signature Certificate (DSC) – Mandatory for political parties.
- Electronically via EVC or Aadhaar OTP – Other eligible entities may opt for this.
Once submitted, verification can be completed by:
- Digital Signature
- Electronic Verification Code (EVC)
- Aadhaar OTP
- Sending signed ITR-V to CPC, Bengaluru (not required if verified digitally)
How to Send ITR-V?
If you don’t e-verify your return, you must print, sign, and send the ITR-V to:
Centralized Processing Centre (CPC),
Income Tax Department,
Post Bag No. 1, Electronic City Post Office,
Bengaluru – 560500, Karnataka, India.
However, if your return is digitally signed or e-verified, there’s no need to send the ITR-V physically.
Caution:
As per Section 277 of the Income-tax Act, any false statement or misreporting in the return or schedules can lead to prosecution and severe penalties, including rigorous imprisonment and fines.
Conclusion:
ITR-7 is a crucial return form for non-profit entities, trusts, political parties, and educational institutions. Understanding its structure, compliance requirements, and latest changes is essential to ensure smooth and penalty-free filing.
Disclaimer:
The contents of this article are for informational and educational purposes only. The views are personal and not intended to serve as professional tax advice. Please consult a chartered accountant or tax advisor for personalized guidance.
