ITR- 7 Return Filing
- Art Teacher
- London, UK
- 5-7 Hrs
Running a charitable trust, religious institution, political party, or educational organization? Then ITR-7 is your tax compliance path. Unlike other income tax forms, ITR-7 is meant for entities claiming exemptions under sections 139(4A), 139(4B), 139(4C), or 139(4D)—in other words, non-profits, research institutions, universities, and electoral trusts. But don’t let the “exempt” tag mislead you—filing ITR-7 is mandatory and needs utmost precision in reporting income, donations received, utilization of funds, and compliance with Sections 11, 12, 13, or 10(23C). Filing ITR-7 isn’t just a tax form—it’s a public declaration of how your institution upholds financial transparency, which is critical for securing continued exemption and donor confidence.
- PAN card of the trust/institution
- Registration Certificate under:
- Section 12A/12AA/12AB
- Section 10(23C) (if applicable)
- FCRA (for foreign donations)
- Trust Deed / MOA / Constitution documents
- Form 10B or 10BB (Audit Report under Section 12A(b) or 10(23C))
- Statement of Income and Expenditure
- Balance Sheet and Receipts & Payments Account
- Schedule of Donations Received
- Utilization statement (for grants or foreign contributions)
- Bank account details
- Digital Signature Certificate (DSC) / EVC for verification
- Log in to Income Tax e-Filing Portal
- Navigate to e-File > Income Tax Return > File Income Tax Return
- Select AY → Choose “Others” as status → Select Form ITR-7
- Choose section of applicability
- Fill in schedules related to income, exempt income, donations, etc.
- Upload Audit Report (Form 10B/10BB) under “e-File > Income Tax Forms”
- Submit return using DSC (mandatory for some), or EVC
- Download ITR-V Acknowledgement
FAQs
Yes, filing ITR-7 is mandatory for a registered trust even if it has zero income, as long as it exists and is registered under Section 12A/12AA/10(23C).
Late filing attracts penalties under Section 234F and may result in loss of exemption under Sections 11/12.
Form 10B is an audit report required for registered trusts and certain institutions whose income exceeds the basic exemption limit and who claim exemption under Section 11/12; it must be filed electronically by such entities along with their return.
They must be disclosed in Schedule FC (Foreign Contributions), and should match FCRA returns.
Since exempt entities don’t compute regular business income, carry-forward of losses is not allowed.