ITR-7 Form Filing

Filling ITR-7 may seem complex for trusts, NGOs, institutions and other exempt entities. But done right, it can be seamless and stress-free. At GarudaMudra, we make it easy for you to file ITR 7 while you keep your organization compliant and hassle-free.

Why to choose GarudaMudra in ITR-7 Filing?

1. Filing On Time, Every Time – Avoid last minute mistakes and running out of time.
2. Expert Help – Know what is allowed and what isn’t with clear guidance about eligibility, rules and compliance.
3. Start-to-Finish Assistance – From brainstorming thesis topics to final submission.
4. Reduced Risks – No more fines, delays, and compliance problems.
5. All Transparent – App is free of hidden fees and unclear transactions.

What is the ITR-7 Form?

The ITR-7 is a return form which is to be used by assesses who are liable to file return under section 139(4A), section 139(4B), section 139(4C), section 139(4D), section 139(4E) or section 139(4F).

It applies mainly to:

1. Charitable and religious trusts
2. Political parties
3. Educational and medical institutions
4. Scientific research organizations
5. Business and investment trusts
6. Certain funds and societies

These institutions file income, expenditure and the application of funds, along with the claim for exemption, under the Income Tax Act, 1961 in form ITR-7. It is important to file this return to preserve tax-exempt status.

Sections Covered by ITR-7 Filing:

1. Section 11 & 12- Income from charitable or religious purposes; voluntary contributions.
2. Section 13-A – Conditions of exempting.
3. Sec 10(23C) – Educational or Medical Institutions.
4. Section 29–35 – Deduction for research and development expenditure in relation to research and development activities.
5. Section 44 – Income of news agency.
6. Section 80G -Applicable for deduction on donations.

In summary, the ITR-7 is what exempt organizations use to demonstrate that they’ve been using the funds they receive the way they should, i.e., the way the law says they should.

Who Should File ITR-7?

Not for individuals, firms or HUFThe ITR-7 is not meant for individuals, firms or HUF. What it’s for It’s meant especially for things like:

1. Charitable or Religious Trusts – Applying for exemption under Sections 11/12.
2. Educational & Medical Institutions – Schools, colleges and hospitals- having charitable purpose vide Section 10(23C) To Editor – Leave this passage as it is.
3. Political Parties – With income above the basic exemption limit, as per Sec 139(4B).
4. 6] Scientific Research Associations & News Agencies – Being covered under Section 10(21) and 10(22B).
5. Universities & Colleges –Other than those mentioned in 10(23C) also.
6. Hospitals and Medical Institutions: Claiming of deduction u/s relevant sub-sections.
7. Business Trusts – (e.g., REITs and InvITs) under Section 139(4E).
8. Investment Funds – AIF (Alternative Investment Funds) under Section 115UB.
9. Filing is compulsory and electronic with authentication through DSC or EVC.
10. Changes in ITR-7 for FY 2024–25 (AY 2025–26)
11. For this assessment year, the Income Tax Department has been making a few revisions to enhance compliance and transparency.

Key Changes:

1. Full Disclosure – Transparency on donations from abroad, voluntary contributions, income received in advance, and capital gains.
2. Donor-Wise Details – Trusts are now required to disclose the donor-wise details for transparency.
3. Audit Report Requirement – Audit reports (Form 10B/10BB) are required to be uploaded at least one month prior to the due date for filing the return.
4. Pre-Populated – The totals of certain areas such as donations and exemptions would already be prefilled in the system in order to minimize the errors.
5. E-Verification – ITR-7 has to be e-verified. Paper-mediated verification is on its way out.
6. Tight Control Over Foreign Funds – Guarantees funds are not used for purposes other than what they are specified for.
7. Due Date: 31st October 2025 (for organizations whose accounts are being audited) Delays may lead to fine under Section 234F.

Deadlines for Filing ITR-7

The deadline varies for audited accounts:

1. October 31 – For companies requiring an audit of their accounts.
2. 15 September – For non-audited bodies.
3. November 30th – Taxpayers with international or specified domestic transactions (under Section 92E) as their transactional reporting systemic under BEPS.
4. Missing the due dates can invite penalties and interest under Sections 234F and 234A.
5. Steps to E-file ITR-7 Online in India
6. ITR-7 FORM Filing of ITR-7 is 100% online in the official ITR e-filing website.

Step-by-Step Process:

Step 1: Download Utility

Visit incometax.gov.in Go to downloads and click on the link for Excel spreadsheet utility latest Java utility and download the ITR-7 standard ITR utility (Excel/ Java) or Excel utility (Not for Below Mentioned person).

Step 2: Prepare the Return

Enter PAN, Aadhaar, registration details income,exemptions, donor lists, and financial statements.

Step 3: Validate Entries

Go to the “Validate” and see customized items.

Step 4: Generate JSON File

Serialize the validated form to a JSON file.

Step 5: Upload Return

Login> > e-File Upload Return > > ITR-7 has to be selected. Attach audit reports if required.

Step 6: Verify Return

Validate through DSC, OTP of Aadhaar or EVC. It’s illegal to return without verification.

Step 7: Download Acknowledgement (ITR-V)

1. Download ITR-V as a proof of filing after verification.
2. Structure of the ITR-7 Form
3. The form is lengthy and is broken down into sections:

Part A – General Information

PAN, registration particulars, address, and particulars of key officers.

Part B – Computation of Income & Taxation 5 Gross total income You have means of Investments or Savings.

1. TI: Gross income and exemptions.
2. TTI: Tax liability, surcharges, cess.
3. Tax specifics: TDS, advance tax, self-assessment.

Schedules

Part I – For trusts covered under section 11(2)/10(23C).

1. Schedule VC – Voluntary contributions.
2. Schedule LA – Political parties.
3. Schedule ET – Electoral trusts.
4. Schedule CG – Capital gains.
5. Form HP – Income from house property.
6. Schedule SH – Unlisted shareholdings.
7. Schedule ER/EC – Expenditure details.

And others as applicable.

Fees for Late Filing of ITR-7

It can cost your organization money and benefits if you file late.

Penalty Structure (Section 234F):

1. Income ≤ ₹5 lakh → Maximum ₹1,000.
2. Income > ₹5 lakh:
3. Filed after 31st Dec → ₹5,000.
4. Filed after 31st Dec → Rs 10,000.

Other Consequences:

1. Section 234A Interest – 1% per month on tax payable which has not been paid.
2. Carry-forward restrictions: Not if over the deadline.
3. Delay in refund – if there is refund, will keep it pending.

Final Thoughts

For trusts, NGOs, political and institutions, return filing through ITR-7 is not merely a formality, it maintains your tax-exempt status. Failing to meet deadlines, overlooking disclosures, or returning the wrong kind of returns may endanger your exemption, result in massive fines.

GarudaMudra provides expert assistance to compile, verify, and submit your ITR-7 accurately and in a timely manner. Remain stress-free and concentrate on your company’s mission, we will take care of all the compliance.