Quick Summary
The Central Board of Direct Taxes (CBDT) has notified the amended Income-tax Return Form ITR-7 through Notification No. 46/2025, published in the Gazette of India on May 9, 2025. The changes will come into effect from April 1, 2025, and are applicable for the Assessment Year 2025-26. Issued under t
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FAQ :
The new ITR-7 form is a revised income tax return form notified by the CBDT for entities like trusts, political parties, and research associations claiming tax exemptions.
The new ITR-7 form is applicable from April 1, 2025, for the Assessment Year 2025-26.
Entities such as trusts and institutions claiming exemption under Section 11 or 12, political parties under Section 13A, research associations, and universities under Section 10(21) and 10(23C) need to file the ITR-7 form.
The new form includes enhanced disclosure requirements for foreign contributions, registrations under different laws, compliance with tax exemption conditions, and expanded fields for reporting voluntary contributions and fund applications.
The revision aims to improve transparency and ensure that tax-exempt entities strictly adhere to the conditions set out in the Income-tax Act, aligning with amendments made in the Finance Act, 2024.
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