ITR-7 Form - Eligibility, Filing Process & Due Dates

ITR-7 Changes for FY 2025-26 (AY 2026-27)

Expanded Eligibility for ITR-1 and ITR-4

• Taxpayers with up to two house properties can now file ITR-1 and ITR-4.

• Earlier, these forms were available only to taxpayers with income from one house property.

New Field for Unrealised Rent

• A new field, "Amount of rent which cannot be realized", has been added to ITR-1 and ITR-4.

• Previously, there was no provision to report unrealised rent in these forms.

Removal of Old Capital Gains Tax Fields

• Fields related to:

• 15% STCG on listed equity securities

• 10% LTCG on listed equity securities

• have been removed from relevant ITR forms, as these rates are no longer applicable for FY 2025-26.

Simplified Opting In/Out of the New Tax Regime

• Updated forms now include detailed disclosure requirements for:

• Opting into the new tax regime

• Opting out of the new tax regime

• This aims to reduce confusion surrounding Form 10-IEA, particularly for taxpayers with business income.

ITR Filing by Representative Assessee

• A new field has been added across all ITR forms to indicate whether the return is filed by a representative assessee.

Section 89A Relief Removed from ITR-1 and ITR-4

• The field for claiming relief under Section 89A has been removed from ITR-1 and ITR-4.

• Taxpayers claiming relief for foreign retirement accounts must now use:

• ITR-2, or

• ITR-3

• This change simplifies ITR-1 and ITR-4.

Additional Information Required for Deductions

Section 80G – Donations

Taxpayers must now provide:

• Transaction reference number

• Bank IFSC code

Section 80GGC – Donations to Political Parties

Additional details required include:

• Name of the political party

• PAN of the political party

Section 234I – Late Fee for Revised Returns

• Revised returns can now be filed up to 31 March of the subsequent tax year.

• Earlier, the deadline was 31 December of the subsequent tax year.

• Returns filed after 31 December are subject to a late fee.

• A new field for reporting late-fee details has been added to all ITR forms.

Investment and Bank Balance Disclosure in ITR-4

• Taxpayers filing ITR-4 must now disclose:

• Investment details

• Bank balance details

• This requirement applies from AY 2026-27 onwards.

Eligibility Criteria for ITR-7

The following individuals and associations are eligible to file the ITR-7 form:

• Section 139(4A): Applicable to individuals or entities earning income from property held under trust or legal obligation, either wholly or partly for charitable or religious purposes.

• Section 139(4B): Mandatory for political parties if their total income (before applying section 139A) exceeds the basic exemption limit.

• Section 139(4C): Required for institutions specified under the section that are claiming tax exemptions under section 10.

• Section 139(4D): Must be filed by colleges, universities, and scientific research institutions eligible under section 35(1).

Schedules to be Filled for Claiming Exemptions in ITR-7

The following are the sections, as per which ITR-7 should be filed by an individuals and companies:

Schedule LA: Filled by political parties claiming exemption under Section 13A

Schedule ET: Applicable to Electoral Trusts claiming exemption under Section 13B.

Schedule AI: For trusts or institutions claiming exemption under:

Sections 11 and 12

Section 10(23C)(iv), (v), (vi), or (via)

Schedule IE 1: Required for exemptions under any of the following clauses of Section 10, where income is exempted unconditionally:

10(21), 10(22B), 10(23AAA), 10(23B), 10(23D), 10(23DA), 10(23EC), 10(23ED), 10(23EE), 10(23FB), 10(29A), 10(46), and 10(47)

Schedule IE 2: Exemptions claimed under Section 10(23A) or 10(24).

Schedule IE 3: To be used when claiming exemptions under Section 10(23C)(iiiab) or 10(23C)(iiiac).

Schedule IE 4: Required for claims under Section 10(23C)(iiiad) or 10(23C)(iiiae).

Due Date for Filling ITR 7

The due date for filling ITR 7 are mentioned below:

• Due date for taxpayers who do not need to audit their account: 15 September 2026 (FY 2025-2026)

• Due date for taxpayers who need to audit their accounts including companies: 31st October of next financial year.

Instructions for filling out the ITR-7 Form

The following are the set of instructions that should be followed during filling out the ITR-7 form:

• All items must be filled in the manner indicated therein; otherwise the return may be liable to be held defective or even invalid
• If any schedule is not applicable score across as “---NA---".
• If any item is inapplicable, write “NA" against that item.
• Write "Nil" to denote nil figures.
• Except as provided in the form, for a negative figure/ figure of loss, write “-" before such figure.
• All figures should be rounded off to the nearest one rupee. However, the figures for total income/ loss and tax payable are finally rounded off to the nearest multiple of ten rupees.

What is the Structure of the ITR-7 Form?

The ITR-7 form is organized into 2 parts and 23 schedules to capture income, exemptions, tax computations, and compliance details. From AY 2025-26, taxpayers must also furnish details of their registration or approval.

Part A – General Information

• Basic taxpayer and entity-related details.

Part B – Income and Tax Computation

• Summary of total income and tax calculation on taxable income.

Key Schedules in ITR-7

Trust and Institution-Related Schedules

• Schedule IA: Accumulated income taxed in earlier assessment years under Section 11(3)

• Schedule D: Deemed application of income under Section 11(1)

• Schedule DA: Accumulated income taxed under Section 11(1B)

• Schedule J: Investment details of trust/institution funds

• Schedule R: Reconciliation of corpus between Schedule J and Balance Sheet

• Schedule VC: Voluntary contributions received

• Schedule AI: Aggregate income excluding voluntary contributions

• Schedule A: Amount applied towards the objectives of the trust/institution

• Schedule IE-1 to IE-4: Applicable income and expenditure statements

Balance Sheet and Fund Details

• Part A-BS: Application and sources of funds as on 31 March

Specific Entity Schedules

• Schedule LA: Political party details

• Schedule ET: Electoral Trust details

Income Computation Schedules

• Schedule HP: Income from House Property

• Schedule CG: Capital Gains

• Schedule VDA: Income from transfer of Virtual Digital Assets under Section 115BBH

• Schedule OS: Income from Other Sources

• Schedule OA: Business and profession information

• Schedule BP: Profits and gains from business or profession

• Schedule CYLA: Set-off of current-year losses

• Schedule PTI: Pass-through income from business trusts or investment funds

• Schedule SI: Income taxable at special rates

Special Taxation and Exemption Schedule

• Schedule 115TD: Accreted income under Section 115TD

• Schedule 115BBI: Specified income of institutions covered under Section 115BBI

Foreign Income and Asset Reporting

• Schedule FSI: Income earned outside India

• Schedule TR: Tax relief claimed on foreign taxes paid

• Schedule FA: Foreign assets and overseas income details

Shareholding Details

• Schedule SH: Shareholding in unlisted companies

Final Computation Sections

• Part B-TI: Computation of total income

• Part B-TTI: Computation of tax liability on total income

Exemption-Specific Sections

• Part B1: Applicable for exemptions claimed under Sections 11, 12, and specified provisions of Section 10(23C)

• Part B2: Applicable for exemptions claimed under Sections 13A, 13B, and other specified provisions of Section 10

• Part B3: Applicable where income is taxable under the twenty-second proviso to Section 10(23C) or Section 13(10)

Tax Payment Details

• Advance Tax payments

• Self-Assessment Tax payments

• Tax Deducted at Source (TDS) details

• Tax Collected at Source (TCS) details

Sequence for filling out Parts and Schedules

The ITR must be filled by the below mentioned sequence as per the Income Tax Department:

• Part A
• Schedules
• Part B
• Verification

Things To Keep in Mind When Filing the ITR-7

The following are the points that should be remembered while filing ITR-7:

• No extra documents, paperwork or TDS certificates are to be submitted or affixed with the return form
• If any documents are affixed with the return form, they will be sent back to the applicant who has filed the return
• It is advisable that taxpayers match the taxes deducted, collected or paid by them with their Tax Credit Statement Form 26AS

Ways to file ITR-7

ITR 7 must be mandatorily filed online with the Income Tax Department in the following ways:

• by furnishing the return electronically under digital signature
•   by transmitting the data in the return electronically and thereafter submitting the verification of the return in Return Form ITR-V 

Procedure for filling out the Verification Document

Here are the steps for filling out the verification document: 

• Enter the required information in the verification document and strike out what is not applicable
• Ensure the verification has been signed before furnishing the return
• Write the designation of the person signing the return.

Verification of Form ITR-7

ITR-7 must be filed electronically with the Income Tax Department and verification can be done through any of the following methods:

• Digital Signature Certificate (DSC)

• Electronic Verification Code (EVC)

• Aadhaar OTP

• Signing and sending the ITR-V form to: Centralized Processing Centre (CPC), Income Tax Department, Bengaluru – 560500, Karnataka.

Note:

• Political parties must file ITR-7 using a Digital Signature Certificate (DSC) only.

• Under Section 277 of the Income Tax Act, 1961, submitting false information in the return or its schedules is a punishable offense, which may also cause rigorous imprisonment along with penalty.