New Income Tax Return (ITR-7) form

Dear SRRF Members,

Greetings of the day,

The new form of Income Tax Return (ITR-7) for the NGO has been released. Thanks to Account aid for sharing the relevant information. Please refer to the mail below for details:-

Income Tax Department has released a new form of Income Tax Return (ITR-7) for NGOs. The new return has 29 pages in all, including 10 pages of instructions and the acknowledgement.

This form should be used for the AY 2012-13. This means returns for financial year ending 31-Mar-12 will be filed in this form. The return must be filed in paper form.

The new form asks for additional information about FCRA status, foreign contribution received, classification under sec. 2(15), among others.

The form and instructions can be downloaded from the Income Tax web-site (www.incometaxindia.gov.in/download_all.asp) or Accountaid web-site (www.AccountAid.net).

This change is effective from 26^th July ’12. If you had already filed your tax return for 12-13 before that date, you do not have to file it again.

References:

• Notification number S.O. 1705 (E), dated 26^th July 2012

We gratefully acknowledge CA Martin Pinto’s help in bringing this change to our attention. – Ed.

(31-Jul-2012)

With warm regards
Farah
Coordinator
__________________________________
Socio Research & Reform Foundation
(A Non Government Organisation)
512 A, Deepshikha, 8 Rajendra Place, New Delhi – 110008