&c4=o-color-4&c5=o-color-5)
&c2=rgba(0,0,0,.5)&c4=o-color-4&c5=o-color-5)
&c4=o-color-4&c5=o-color-5)
&c2=rgba(0,0,0,.5)&c4=o-color-4&c5=o-color-5)
Breif
ITR-7 is a
specialized income tax return form designed for entities that claim tax
exemptions under specific sections of the Income Tax Act, 1961. It is primarily
used by non-profit organizations, charitable/religious trusts, political
parties, and scientific research institutions. Unlike standard ITRs, this form
focuses heavily on the application of income for charitable purposes rather
than just profit and loss.
Overview
The ITR-7
form is an income tax return in India meant for entities such as charitable and
religious trusts, political parties, universities, colleges, hospitals, and
other institutions specified under sections 139(4A), 139(4B), 139(4C), and
139(4D) of the Income Tax Act. It allows these organizations to declare their
income and claim exemptions under provisions like sections 10, 11, 12, and 13A.
Unlike individual or corporate returns, ITR-7 is mandatory for institutions
with tax-exempt income and must be filed electronically through the Income Tax
Department’s e-filing portal to ensure compliance and transparency.
Process
Step 1 - Verify PAN and registration details (12A/12AB, 10(23C), etc.).
Step 2 – Collect financials, donation details, and bank statements.
Step 3 – Prepare and review Form 10B / 10BB.
Step 4 – Compute income and eligible exemptions.
Step 5 – Prepare ITR-7 with income, application, and exemption details.
Step 6 – File ITR-7 online and verify via DSC/EVC.
Step 7 – Acknowledgement and support for notices or corrections.
Checklist
Details & Documents Required for GST Registration
- PAN of the Trust/Institution
- Registration Certificate
- Trust Deed / Bye-laws
- 12A / 12AB / 80G Registration Details
- PAN of Managing Trustee / Principal Officer
- Aadhaar of Authorized Person
- Mobile Number & Email ID
- DSC
- Audited Balance Sheet
- Income & Expenditure Statement
- Audit Report (Form 10B / 10BB)
- TDS Details (26AS / AIS)
- Bank Statements
- Donation Details (Corpus & Non-Corpus)
- Expenditure / Application of Income Details
- Form 10 (if applicable)
- Investment Details (Section 11(5))
- Donor PAN (where applicable)
- Related-Party Transaction Details
Time Taken
Total Time: Approximately 7–10 days from the date of receipt of all required documents.
- Total Time: Approximately 7–10 days from the date of receipt of all required documents.
- Additional time may be required in case of complex income structures, audits, or exemptions.
Deliverable
The following deliverables are included in our ITR-7 Filing Service. Specific inclusions may vary based on the complexity of the trust or institution
- Computation of Total Income and Tax Liability.
- Detailed Tax Summary Report for your internal records.
- Verification of Tax Exemptions under Sections 11, 12, or 10(23C).
- Filing of Audit Reports (Form 10B / 10BB) on the tax portal.
- Form 10/9A Filing for accumulation of income, if applicable.
- Final ITR-7 Acknowledgement (ITR-V).
- Validation of TDS Credits against Form 26AS and AIS.
Why Choose Us
Bizeneed
offers fast, hassle-free ITR-7 filing with expert support, transparent
pricing, and pan-India service. Our professionals ensure maximum accuracy in
claiming exemptions and provide ongoing post-filing assistance for
complete tax compliance.
FAQs
Charitable trusts, political parties, institutions, universities, and hospitals under sections 139(4A–D).
No, it is only for specific entities, not individuals.
Yes, E Commerce Dealer must register even if turnover is below threshold.
Usually 31st October for audit cases and 31st July for non-audit cases.
What happens if ITR-7 is filed late?
Yes, if income exceeds the basic exemption limit.
Form 10B or 10BB depending on the nature of the institution.
Yes, under section 13A, provided proper records of donations are maintained.
PAN, registration certificate, audit report, donation records, bank statements.
Yes, revised returns can be filed before the end of the assessment year.
Yes, for certain entities like companies and trusts; others may use Aadhaar OTP/EVC.
Sections 10, 11, 12, and 13A.