Quick Summary
The Central Board of Direct Taxes has released a checklist to avoid mistakes in filing the Income Tax Return - 7 for AY 2020-21. Read the entire checklist below: Central Board of Direct Taxes Directorate of Income Tax (Systems) E-2, A.R.A. Centre, Ground Floor Jhandewalan Extension New Delhi 110055 Checklist to Avoid Mistakes in Filing ITR 7 for AY 2020-21 S. N. Exem-ption claimed under section Return furn-ished section
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FAQ :
The checklist has been released by the CBDT to help taxpayers avoid common mistakes when filing their Income Tax Return (ITR) 7 for the Assessment Year 2020-21.
ITR 7 is typically filed by trusts, political parties, charitable institutions, and other entities claiming exemption under specific sections of the Income Tax Act.
The checklist outlines which income schedules need to be filled, registration or approval details required, and specific forms or audit reports that are applicable based on the exemption being claimed under various sections of the Income Tax Act.
Yes, the checklist mentions specific forms like Form 9A and Form 10 for claiming exemptions under sections like 11(1) and 11(2), and Form 10B or 10BB for audit reports, depending on the exemption claimed.
Yes, the checklist indicates that certain forms, such as Form 9A, Form 10, and audit reports, need to be e-filed within specific due dates, often prior to the return filing due date.
For exemptions under sections 10(23C)(iiiad) and (iiiae), if gross receipts exceed Rs. 1 Crore, the entity is not eligible for the exemption.
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