The Income Tax Department notified the  ITR-7 Guidance Note for Assessment Year 2020-21. The ITR-7 is filed when persons including companies fall under section 139(4A) or section 139 (4B) or section 139 (4C) or section 139 4(D).

No document including TDS certificate should be attached with this return form while filing ITR-7.

Taxpayers are advised to match the taxes deducted/collected/paid by or on behalf of them with their Tax Credit Statement Form 26AS.

The Registration Details under section 12A/12AA in respect of the Detail of registration/approval under Income Tax Act to be furnished in Schedule Part-A General, ‘Return furnished section’ to be selected as 139(4A) and ‘Section under which exemption claimed’ to be selected as section 11.

For example, if the assessee has selected section 11 for “Section under which exemption claimed”, for the field “Detail of registration/approval under Income Tax Act to be furnished in Schedule Part-A General, ‘Return furnished section” section 139(4A) to be selected.

The guidance note clarified that if assessee is having details of new/fresh registration, may be furnished.

A per Section 12A(1)(b) of Income Tax Act (up to Assessment year 2019-20), when the total income of a trust/institution exceeds the maximum amount which is not chargeable to tax in previous year, the accounts of such trust/institution for that year to be audited and to furnish Form 10B along with the return.

However, from Assessment year 2020-21 Act has been amended from Assessment year 2020-21). As per Section 12A(1)(b) r.w.s. 44AB Audit report in FORM 10B to be filed one month prior to the due date for furnishing the return of income under sub-section 1 of section 139.

The return has to be filed as per provisions of section 139. As per Rule 12 Return Form, ITR 7 is for specific entities. However, ITR 7 efiling Utility has been enabled for entities that are unconditionally exempt to furnish their Return.