ITR – 7 Return

No Annexure 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.

What is the Structure of the ITR-7 Form

The ITR-7 form has been divided into 2 parts and 23 schedules. From AY 2023-24, a taxpayer has to also provide information on the details of registration or approval.

Part-A – General Information

Part-A contains general information related to the assessee.

Part-B – Tax Computation

Outline of the total income and tax computation with respect to income chargeable to tax.

Important Schedules in ITR-7

Schedule-I: Details of amounts accumulated/set apart under section 11(2) or section 10(23C)/10(21)

Schedule-D: Details of deemed application of income under section 11

Schedule-J: Investment details of all funds of the Trust or Institution

Part A-BS: Details of Application and Sources of Fund

Schedule-R: Reconciliation of Corpus of Schedule J and Balance Sheet

Schedule-LA: Details in case of a political party

Schedule-ET: Details in case of an Electoral Trust

Schedule-VC: Details of Voluntary Contributions received

Schedule-AI: Aggregate of income derived during the year excluding voluntary contributions

Schedule-ER: Amount applied to charitable or religious purposes in India – Revenue Account

Schedule-EC: Amount applied to charitable or religious purposes in India – Capital Account

Schedule IE-1, IE-2, IE-3 & IE-4: Income and expenditure statements

Schedule-HP: Computation of income from House Property

Schedule-CG: Computation of Capital Gains

Schedule-VDA: Income from transfer of virtual digital assets u/s 115BBH

Schedule-OS: Computation of income from Other Sources

Schedule-OA: General information about business and profession

Schedule-BP: Computation of profit and gains from business or profession

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

Schedule-PTI: Pass-through income details from business trust or investment fund

Schedule-SI: Income chargeable at special tax rates

Schedule-115TD: Accreted income under section 115TD

Schedule-FSI: Income accruing or arising outside India

Schedule-TR: Tax relief claimed for taxes paid outside India

Schedule-FA: Foreign Assets and foreign income details

Schedule-SH: Shareholding details in an unlisted company

Tax Payments & TDS/TCS Details

Part B-TI: Computation of total income

Part B-TTI: Computation of tax liability on total income

Details of Advance Tax and Self-Assessment Tax payments

Details of Tax Deducted at Source (TDS) on Income (As per Form 16A/16B/16C/16D)

Details of Tax Collected at Source (TCS)