CBDT Releases Revised ITR-7 Form For Assessment Year 2025-26

The Central Board of Direct Taxes (CBDT) has issued Notification No. 46/2025, officially notifying the amended ITR-7 form in the Gazette of India on May 9, 2025. The revised form will take effect from April 1, 2025, and will apply for the Assessment Year 2025-26.

The revised ITR-7 form, issued under the powers conferred by Section 295 read with Section 139 of the Income-tax Act, 1961, replaces the existing version in Appendix II of the Income-tax Rules, 1962. This form is designed for entities such as charitable and religious trusts, political parties, research associations, and other institutions that claim exemptions under provisions like Sections 11, 12, 10(23C), and 13A of the Income-tax Act.

The new ITR-7 form aligns with the amendments introduced in the Finance Act, 2024, and includes enhanced disclosure requirements. These changes cover foreign contributions, registration under various laws such as FCRA and SEBI, and compliance with tax exemption conditions. The form also expands fields for reporting voluntary contributions, accumulated income, and fund applications under Sections 11 and 12. Additionally, new compliance checks have been added for violations under Section 13, which could lead to the denial of exemptions.