-
May 13, 2025
-
CBDT notifies ITR-7 form for AY 2025-26: Who should file and what’s changed?
The Central Board of Direct Taxes (CBDT) has released the updated Income Tax Return Form 7 (ITR-7) for the assessment year 2025-26 (financial year 2024-25). The new form, notified in line with amendments introduced in the Finance Act, 2024, applies to entities such as charitable or religious trusts, political parties, research institutions, and universities, among others.
Who Should File ITR-7?
Entities required to furnish returns under sections 139(4A), 139(4B), 139(4C), or 139(4D) of the Income Tax Act must use ITR-7. These include:
Charitable and religious trusts claiming exemptions under Section 11
Political parties under Section 139(4B)
Scientific research bodies, news agencies, colleges, universities, and other notified institutions
Entities claiming exemptions under sections like 10(23C) and 10(21)
These organizations typically operate on a not-for-profit basis and avail of exemptions under specific provisions of the law.
|