ITR 7 shall be filed where individuals, along with businesses, fall within the limits of section 139(4A) or section 139(4B) or section 139(4C) or section 139 4 4A or section 139 4C or section 139 4 (D).
When filing ITR-7, no document (along with a TDS certificate) must be added to this return form.
Taxpayers are encouraged to use their Tax Credit Statement Form 26AS to align the deducted/collected/paid taxes from or on behest of them.
If the assessee is responsible for Audit u/s 44AB and the records have indeed been audited via an accountant, the particulars of that audit report should be filled in under the heading “Audit Information” together with the date of delivery to the department.
ITR 7 Form Eligibility
- Returns pursuant to section 139(4A) are obliged to file by any individual earning income arising from estate held under trust or other legal duty wholly for, or partly for, charitable or religious motives.
- Returns pursuant to section 139(4B) are needed to be submitted by a political party if, without giving force to the requirements of section 139A, the gross income reaches the permissible sum that is not applicable to income tax.
- Returns pursuant to section 139(4C) must be submitted by all.
- Association for scientific research.
- News agency.
- The organization or body mentioned in section 10 (23A).
- The organization mentioned in section 10 (23B).
- Funds or institutions, or universities, or any educational institutions, or any medical facility or hospital.
- Returns under section 139(4D) are necessary to be submitted by any university, college or other entity which, under any other clause of this section, is not needed to supply returns on profits or losses.
- Any business trust that is not necessary to furnish a return on profits or loss under some other provisions of this act shall file a return pursuant to Section 139(4E).
- Any investment fund specified in section 115UB shall file a return pursuant to section 139(4F). It is not necessary to include, under any other terms of this act, a refund on gain or loss.