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 –

  • Section 139 (4A)
  • Section 139 (4B)
  • Section 139 (4C)
  • Section 139 (4D)
  • Section 139 (4E)
  • Section 139 (4F)
ITR 7 Form Filing

Who can file ITR 7 form?

Following entities are eligible to file ITR 7 form while filing income tax return –

  • Entities earning income from properties and using it for charitable or religious purposes- Section 139(4A)
  • Entities earning income from a political party Section - 139(4B)
  • Entities earning income from the following fields lies under section 139(4C) –
    1. News agency
    2. Scientific research institutions
    3. Trade unions
    4. Mutual funds
    5. Investors protection fund
    6. Institute or university or other educational institutions or hospital or other medical institutions
    7. Securitization trust
    8. Board or trust or commission
    9. Infrastructure debt
    10. Persons fund
    11. Institutions
    12. Securitization trust
    13. Venture capital company
  • Entities earning income from colleges/institutions/universities/Khadi & village industries - Section 139(4D)
  • Individuals earning income from property in the name of trust.
  • Any government or non-government educational institutions specified in section 10(23A) & section 10(23B)
  • Medical institutions like clinics, hospital etc.

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 –

  1. 30th September – Taxpayers whose accounts need to be audited
  2. 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 –

  • Return filing in a physical paper form
  • Return filing electronically with the help of digital signature
  • Electronic submission of return and e-verifying it through electronic verification code
  • Return filing by bar-coding

Procedure of filing the verification document

The procedure of filing the verification document is as follows –

  1. Fill the required information in the verification document and strike out whatever is not applicable.
  2. Ensure that you must sign the verification document before furnishing the income tax return.
  3. 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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