what is itr 7 in income tax

what is itr 7 in income tax

1 year ago 74
Nature

ITR-7 is an income tax return form used by individuals and corporate entities who manage income generated from properties used for charitable or religious purposes. It is to be filed by individuals and corporate entities who are required to file their income tax returns under Section 139(4A), Section 139(4B), Section 139(4C), or Section 139(4D) of the Income Tax Act. The ITR-7 form has been divided into two parts and 23 schedules. Taxpayers are advised to match the taxes deducted/collected/paid by or on behalf of them with their Tax Credit Statement Form 26AS. The deadline for filing ITR-7 for Assessment Year 2023-24 was October 31, 2023, but it has been extended to November 30, 2023. No document (including TDS certificate) should be attached with this return form while filing ITR-7. Taxpayers can file ITR-7 through the e-filing portal of the Income Tax Department with the help of a digital signature certificate.

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