ITR-7 Return Filing
TR-7 Return Filing
ITR-7 is an Income Tax Return (ITR) form used by entities claiming exemptions under Sections 139(4A), 139(4B), 139(4C), and 139(4D) of the Income Tax Act, 1961. It is primarily meant for charitable trusts, political parties, research institutions, and other non-profit organizations that earn income but are eligible for tax exemptions.
📌 Who Should File ITR-7?
✔️ Charitable & Religious Trusts (Section 139(4A))
✔️ Political Parties (Section 139(4B))
✔️ Scientific Research Institutions (Section 139(4C))
✔️ Universities, Colleges & Educational Institutions (Section 139(4D))
✔️ Other Not-for-Profit Entities (such as NGOs and Welfare Societies)
🚫 Who Cannot File ITR-7?
❌ Individuals, Hindu Undivided Families (HUFs), Firms, Companies, or LLPs
❌ Business entities not registered as non-profit organizations
Importance of ITR-7 Filing
✅ Mandatory for Exempted Entities – All eligible organizations must file ITR-7 to claim tax exemptions
✅ Ensures Transparency & Compliance – Helps maintain financial records and legal compliance
✅ Avoids Penalties – Non-filing may result in penalties under Section 234F
✅ Required for Donations & Grants – Essential for organizations receiving government or foreign donations
✅ Enhances Credibility – A valid tax filing record improves trust among donors and regulatory bodies
how we help
Great Support for Funding & Compliance
Documents Required for ITR-7 Filing
📌 PAN Card of the Organization
📌 Certificate of Registration (under Societies Act, Companies Act, or Trust Act)
📌 Income & Expenditure Account (Audited Financial Statements)
📌 Details of Donations & Grants Received
📌 Bank Account Statements
📌 Tax Deducted at Source (TDS) Certificates – Form 16A, 26AS
📌 Details of Investments & Fixed Deposits
📌 GST Details (if applicable)
📌 Form 10B (for audit purposes, if applicable)
Benefits of ITR-7 Filing
✅ Claim Tax Exemptions – Helps non-profits and charities avail tax benefits under Sections 11 & 12A
✅ Compliance with Tax Laws – Ensures adherence to legal tax obligations
✅ Eligibility for Grants & Donations – Many donors and funding agencies require proper tax filings
✅ Avoids Legal Issues – Protects the entity from penalties and legal complications
✅ Helps in Financial Planning – Maintains accurate financial records for future planning