The Central Board of Direct Taxes (CBDT) has notified the amended Income-tax Return Form ITR-7 for Assessment Year 2025-26.

The Board has notified the Income-tax (Eighteenth Amendment) Rules, 2025 to further amend Income-tax Rules, 1962.

Who Should File ITR-7?
The ITR-7 form is mandated for persons, including companies, who are required to furnish returns under sections 139(4A), 139(4B), 139(4C), and 139(4D) of the Income-tax Act. These typically include charitable trusts, political parties, research associations, and educational institutions, among others.

Highlights of the Revised Form
This year’s form has introduced greater detail in reporting requirements, particularly concerning donations, foreign contributions, and asset disclosures. The structure of the form has been fine-tuned to align with recent changes in taxation laws and compliance protocols. New annexures have also been included for enhanced data collection and verification purposes.

Key Changes Include:

• Comprehensive reporting of voluntary contributions and grants.
• Enhanced foreign contribution disclosures under FCRA compliance.
• Improved fields for reporting investments, income from property, and capital gains.
• Mandatory Aadhaar and PAN linkage for trustees and key personnel.

Filing Instructions and Modes
The return must be filed electronically under digital signature or through electronic verification code (EVC), except for political parties, which are required to file using digital signatures. The utility for ITR-7 can be downloaded from the official Income Tax e-filing portal.

Caution for Taxpayers
The Income Tax Department has urged all eligible entities to thoroughly review the instructions before filing, as errors or omissions may result in the return being treated as defective or invalid. Special attention should be paid to Schedule VC (Voluntary Contributions), Schedule ER (Revenue Expenditure), and Schedule FA (Foreign Assets).

Last Date and Penalties
The due date for filing the ITR-7 for AY 2024-25 remains July 31, 2025. Failure to file on time may attract penalties under Section 234F, ranging from ₹1,000 to ₹5,000 depending on the entity’s income and filing status.

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