ITR-7: Trusts, political parties, or charitable institutions
ITR-7 is applicable for persons including companies that are required to file return under any of the following sections of the Income Tax Act, 1961:
Section 139(4A) – Trusts and institutions claiming exemption under Section 11 (charitable or religious trusts)
Section 139(4B) – Political parties
Section 139(4C) – Institutions such as research associations, news agencies, hospitals, etc.
Section 139(4D) – Colleges, universities, and educational institutions
Section 139(4E) – Business trusts
Section 139(4F) – Investment funds under Section 115UB
Price: ₹ 7,499/-
Timeline : 7-12 Days
Proprietorship
Benefits
✅ Compliance with tax laws and regulations
✅ Maintains transparency and trustworthiness
✅ Essential for renewal of registration under Sec 12A/80G
✅ Avoids penalties and legal action
✅ Required for grants, CSR eligibility, and statutory approvals
Documents Required
✅ PAN and registration certificate (under Section 12A/80G or relevant sections)
✅ Trust deed or Memorandum of Association (MOA)
✅ Digital Signature Certificate (DSC) – mandatory for most entities
✅ Bank account details
✅ Financial Statements:
✅ Income & Expenditure Account
✅ Balance Sheet
✅ Receipts and Payments Account (if applicable)
✅ Audit report in Form 10B (for trusts)
✅ Form 10 (accumulation of income, if claimed)
✅ Donations received (with donor details)
✅ Investments made (as per Income Tax norms)
✅ Details of voluntary contributions
✅ Foreign contributions (FCRA compliance, if any)
✅ Advance tax/self-assessment tax challans
Proprietorship
Deliverables
✅ acknowledgment
✅ Complete copy of ITR-7 form with schedules
✅ Income and expenditure computation
✅ E-verification assistance