ITR-7 form is used for filing income tax return of charitable trusts, political parties, colleges, universities and scientific research institutions registered in India.
Penalty
Penalty upto Rs.10000/- will be levied, if not filed on due date
Documents Required For ITR-7 Filing
- Form-16
- Salary Slips
- Interest certificates from Post Offices & Banks
- Form 16A/16B/16C
- Form 26AS
- Tax-Savings Investment Proofs
- Deductions under Section 80D to 80U
- Home Loan statement from NBFC/Bank
- Capital Gains
- Aadhar Card
All About Form ITR-7 Income Tax Return
ITR-7 Form can be used by Companies, Firms, Local authority, Association of Person (AOP) and Artificial Judiciary Person that are claiming exemption as one the following :
- Charitable /Religious trust under Section 139 (4A)
- Political party under Section 139 (4B)
- Scientific research institutions under Section 139 (4C)
- University or Colleges or Institutions or Khadi and Village industries under Section 139 (4D)
Who all can file Form ITR-7?
ITR-7 must be filed by Companies, Firms, Local authority, Association of Person (AOP) and Artificial Judiciary Person that are claiming exemption in any of the following category :
- Having income from charitable /religious trust- Section 139 (4A)
- Having income from a political party – Section 139 (4B)
- Having income from scientific research institutions – Section 139 (4C)
- Having income from university or colleges or institutions or khadi and village industries – Section 139 (4D)
Individuals who cannot file Form ITR-1?
ITR7 cannot be used by a tax assessee who is not claiming exemption under Section 139 (4A), Section 139 (4B), Section 139 (4C)or Section 139 (4D).
Pay As You Widen Pricing
(ALL INCLUSIVE PRICING)
Basic
Rs.9899
Income tax return filing for a taxpayer with taxable income of less than Rs.10 lakhs.
Regular
Rs.12899
Income tax return filing for a taxpayer with taxable income of more than Rs.10 lakhs.
Privilege
Rs.15899
Income tax return filing for a taxpayer with taxable income of more than Rs.25 lakhs.