This page describes guidelines for filing the ITR-7 Form with explaining its sections and various parts. This income tax return form is designed certain types of taxpayers and businesses and it can be filed online and offline mode.
Any individual or business who falls under Section 139(4A) / 139(4C) / 139(4D). It does not require any attachments to be sent or submitted while filing this form. All the taxpayer need to do is match the details of this income tax return form with the Tax Credit Statement Form 26AS.
If the taxpayer falls under the category described under Section 44AB and liable for audit must need to furnish this inform section under the "Audit Information" head. These taxpayers need to audit their accounts by an accountant. If taxpayer’s audit liability falls under the section 10(23C)(iv) / 10(23C)(v) / 10(23C)(vi) / 10(23C)(vi a) / 10A / 12A(1)(b) / 44AB / 80-IA / 80-IB / 80-IC / 80-ID / 80JJA / 80LA / 92E / 115JB must need to submit the audit details electronically before filing ITR with this income tax return form.
The income tax return form is divided into 2 parts and 23 schedules:
Filling instructions for ITR-7:
Online / Electronically:
In such case, an application to the Commissioner of Income Tax need to be made in Form 10A with attaching the following documents:
Under Section 2(15) of the Income Tax Act, the term "charitable purpose" includes:
Under section 13, political parties are eligible to get 100% tax exemption on all income sources. Yet they are required to file ITR on every AY with providing the following statements: