Form ITR 7 is the tax return filing form for entities which are covered under the sub-sections 4A,4B,4C,4D,4E,4F of Section 139 of the Income Tax Act, 1961.
Every person in receipt of income derived from property held under trust or other legal obligation wholly or partly for charitable or religious purposes or of income being voluntary contributions referred to in section 2(24)(iia) of the Income Tax Act, 1961 shall, if the total income in respect of which he is assessable as a representative assessee (the total income being computed under this Act without giving effect to the provisions of sections 11 and 12) exceeds the maximum amount which is not chargeable to income-tax, furnish a return of such income of the previous year in the prescribed form and verified in the prescribed manner and setting forth such other particulars, as may be prescribed, within the time allowed under section 139(1).
The chief executive officer (whether such chief executive officer is known as
Secretary or by any other designation) of every political party shall, if the total income in respect of
which the political party is assessable (the total income for this purpose being computed under this Act
without giving effect to the provisions of section 13A) exceeds the maximum amount which is not chargeable
to income-tax, furnish a return of such income of the previous year in the prescribed form and verified in
the prescribed manner and setting forth such other particulars as may be prescribed and all the provisions
of this Act, shall, so far as may be, apply as if it were a return required to be furnished under section
139(1).
Every university, college or other institution referred to in clause (ii) and
clause (iii) of sub-section (1) of section 35, which is not required to furnish return of income or loss
under any other provision of this section, shall furnish the return in respect of its income or loss in
every previous year and all the provisions of this Act shall, so far as may be, apply as if it were a return
required to be furnished under section 139(1) of the Income Tax Act,
1961.
Every business trust, which is not required to furnish return of income or loss
under any other provisions of this section, shall furnish the return of its income in respect of its income
or loss in every previous year and all the provisions of this Act shall, so far as may be, apply if it were
a return required to be furnished under section 139(1) of the Income Tax Act, 1961.
Every investment fund referred to in section 115UB, which is not required to
furnish return of income or loss under any other provisions of this section, shall furnish the return of
income in respect of its income or loss in every previous year and all the provisions of this Act shall, so
far as may be, apply as if it were a return required to be furnished under section 139(1) of the Income Tax
Act, 1961.