What is ITR 7 Form?
Individuals and companies earning income from properties and using it for charitable or religious purposes need to file form ITR 7 while filing income tax return. It is filled by those individuals and companies who furnishes return under the following categories –
Who can file ITR 7 form?
Following entities are eligible to file ITR 7 form while filing income tax return –
Who should not file ITR 7 form?
A taxpayer not claiming exemption under section 139(4A), section 139(4B), section 139(4C), section 139(4D) should not file ITR-7 form.
When should ITR 7 be filed?
ITR-7 can be filed when taxpayer submitting the return is a trust, filing return as a firm, company, association of person (AOP), local authority or artificial judiciary and claiming exemption under Section 139(4A), section 139(4B), section 139(4C), section 139(4D).
Due Date for Filing ITR 7 Form
The due date for filing ITR 7 form is as follows –
- 30th September – Taxpayers whose accounts need to be audited
- 31st July – Taxpayers whose accounts need not to be audited
Ways of filing ITR 7 Form
ITR 7 form can be filed in any of the following ways –
Procedure of filing the verification document
The procedure of filing the verification document is as follows –
- Fill the required information in the verification document and strike out whatever is not applicable.
- Ensure that you must sign the verification document before furnishing the income tax return.
- Mention your designation in the end.
ITR 7 Form Format
Download ITR 7 Form for Assessment Year 2019-20 by clicking below link –
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