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ITR-7 Return Filing by N D Savla & Associates
ITR-7 is a specialized income tax return form for entities claiming exemptions under various sections of the Income Tax Act, 1961. This form applies to charitable trusts, religious institutions, political parties, educational bodies, and others.
At N D Savla & Associates, we provide expert-driven ITR-7 filing services in India, ensuring complete accuracy, timely filing, and 100% compliance. Our qualified Chartered Accountants specialize in handling tax returns for trusts, NGOs, and other exempt entities.
Get in touch today for a smooth, compliant ITR-7 filing experience.
What is the ITR-7 Form?
ITR-7 is used by entities who are required to furnish their return of income under:
Section 139(4A): Income from property held under trust or legal obligation for charitable or religious purposes
Section 139(4B): Political parties with taxable income exceeding the exemption limit
Section 139(4C): Institutions like research associations, news agencies, hospitals, educational institutions, etc.
Section 139(4D): Colleges and universities not required to file under any other section
Section 139(4E) & 139(4F): Business trusts and investment funds
Who Cannot File ITR-7?
You cannot file ITR-7 if you are:
An individual taxpayer not claiming exemption under the above sections
A business entity filing under regular ITR forms like ITR-5 or ITR-6
Entities not eligible for exemptions under Section 11 or similar provisions
Who Should File ITR-7?
Entities that can file ITR-7 include:
Charitable or Religious Trusts
Political Parties
Scientific Research Institutions
Colleges, Universities & Educational Institutions
News Agencies
Khadi & Village Industries
Investment Funds / Business Trusts
Artificial Juridical Persons
Local Authorities and Societies
ITR-7 Filing Due Dates (AY 2024–25)
| Category | Due Date |
|---|---|
| Without audit | 31st July 2024 |
| With audit under Section 44AB | 31st October 2024 |
| With transfer pricing report | 30th November 2024 |
Structure of ITR-7 Form
The ITR-7 Form is divided into two parts and multiple schedules:
Part A – General Information:
Basic entity details (Name, PAN, address, nature of activities, etc.)
Part B – Income & Tax Computation:
Summary of taxable income and tax liability
Key Schedules in ITR-7:
| Schedule | Description |
|---|---|
| Schedule I | Amounts accumulated u/s 11(2) |
| Schedule J | Trust/Institution fund investment details |
| Schedule K | Details of founders, trustees, managers |
| Schedule LA | Political party-specific disclosures |
| Schedule ET | Electoral Trust disclosures |
| Schedule HP | Income from house property |
| Schedule CG | Capital gains |
| Schedule OS | Other sources of income |
| Schedule VC | Voluntary contributions received |
| Schedule OA | Business/profession details |
| Schedule BP | Business income calculation |
| Schedule CYLA | Current year loss adjustment |
| Schedule MAT/AMT | Alternate tax computation (if applicable) |
| Schedule SI | Income taxed at special rates |
| Schedule IT/TDS/TCS | Advance tax, TDS, TCS details |
| Schedule FSI/TR/FA | Foreign assets and income details |
Step-by-Step ITR-7 Filing Procedure
The Income Tax Department recommends the following sequence for filing ITR-7:
Part A – Fill in general information
Part B – Compute total income and tax
Schedules – Fill out applicable schedules
Verification – Digitally sign and submit
Methods to File ITR-7
ITR-7 can be filed online via:
Digital Signature Certificate (DSC)
Electronically with ITR-V (verify later via post or e-verification)
If using ITR-V, a signed physical copy must be sent to:
CPC, Income Tax Department,
Post Bag No.1, Electronic City Post Office,
Bengaluru – 560100, Karnataka
How to Complete the Verification Section?
Enter all required details
Strike out non-applicable fields
Choose the correct designation of the person signing
The return must be signed before submission
False declarations can lead to penalties or prosecution
Mandatory e-Filing of Audit Reports (If Applicable)
If your trust or institution is subject to audit under Section 44AB, then:
Audit report details must be submitted electronically
Must be attached under the “Audit Information” section
Include the audit date and the auditor’s details
Common Filing Mistakes to Avoid
Incorrect PAN or registration details
Not reconciling with Form 26AS
Filing incorrect schedules
Omitting voluntary contributions or foreign income
Failing to get the audit report filed online
At N D Savla & Associates, we ensure zero errors in filing, saving you from future complications.
Why Choose N D Savla & Associates for ITR-7 Filing?
We are a leading CA firm in Mumbai, with specialized expertise in tax filings for exempt institutions, trusts, and non-profits.
Here’s why entities trust us:
Deep understanding of ITR-7 complexity
CA-reviewed filing for 100% accuracy
Tax audit assistance & preparation
Support with Form 10B, 10BB, or 10A (if applicable)
Full support with registration under Section 12AB / 80G
From preparing financial statements to digital submission, we handle the entire process seamlessly—so you can stay focused on your mission.
Get Expert Help with ITR-7 Filing Today
Need help filing ITR-7 for your trust, institution, or political party? Our experts ensure accurate, timely, and compliant filing every time.
