In yet another update of Income Tax
Return, the Tax department has recently notified about the ITR-7 Forms
which is out for individuals, HUFs, companies, and others to e-file their
returns. Although, it is further mentioned that
ITR Form 6 will be available
shortly. Since the ITR 7 form deals with the annexure-less return, individuals
or Trusts do have to submit documents while itr filing. ITR-7 is
filed when people including companies fall under section 139(4A) or section 139
(4B) or section 139 (4C) or section 139 4(D). In case, you are new to ITR-7
Form, here you can easily understand the criteria of ITR-7.
Who can use ITR-7?
ITR-7 form must be filed by
Companies, Firms, Local authority, Association of Person (AOP) and Artificial
Judiciary Person that are claiming exemption in any of the following category -
The following individuals are eligible
to file the ITR-7 form-
·
Individuals who earn income from property if said property is in the name
of any trust.
·
Individuals who obtain income for the solo purpose of charity or a
religious offering.
·
Having income from a political party-section 139 (4B)
·
Having income from scientific research institutions
·
News agencies
·
Hospitals or any other medical institution
How to file ITR-7 Form?
Basically, if you want to e-file ITR-7 Form, the income tax
department has outlined some methods that can be used by taxpayers. You can
either furnish the return electronically under digital signature or by
transmitting the data in the return electronically and then submitting the verification
of the return in Return Form ITR-v. And by providing the return in a physical
paper form.
How to verify Document?
If you are preparing for verifying your
document, then you need to keep the following points in mind-
·
You are supposed to fill up the necessary details in the verification.
·
Make sure that the verification has been signed prior to furnishing the
return. Apart from this, mention the designation of the person signing the
return.
Need Assistance?
We at All India ITR strive for customers
satisfaction by providing with financial solutions and others services for your
company at reasonable prices. For more details, you can visits us at
support@allindiaitr.com.
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