ITR-7 is the income tax return form used by specific taxpayers who are required to file their returns under sections of the Income Tax Act, such as individuals or entities claiming exemptions under Section 11 (for charitable or religious purposes), Section 12A (income of trusts), and other specified sections. This form is primarily for the organizations and trusts that are involved in charitable or religious activities.
At STARTUP INDIA, we offer comprehensive ITR-7 filing services to ensure compliance for trusts, charitable organizations, political parties, or other entities entitled to file under the exemptions prescribed by the Income Tax Act.
Who Should File ITR-7?
ITR-7 is intended for the following categories of taxpayers:
Charitable and Religious Trusts Entities established for charitable or religious purposes can file ITR-7 to claim tax exemptions under Section 11, Section 12A, and related sections.
Political Parties Political parties that have received tax exemptions under specific sections of the Income Tax Act and meet eligibility criteria for filing under ITR-7.
Scientific Research or News Agencies These entities can use ITR-7 to report their income and claim applicable exemptions under Section 35.
Other Exempted Entities Non-profit organizations or entities that qualify for exemptions under different sections of the Income Tax Act, like Section 10(23C) for educational or medical institutions, can file ITR-7.