How To Fill ITR7 of Income Tax For Charitable Organization | How To Fill ITR7 For AY 2023-24
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- Опубліковано 11 лют 2025
- #itr7 #formitr7 #howtofillitr7 #incometaxreturn
Today in this video you will be guided step step by process for filling ITR7. Make sure you have watched the video till the end.
How To Fill ITR7 of Income Tax For Charitable Organization
How To Fill ITR7 For AY 2023-24
ITR7 for charitable organization
Practical Filling for Form ITR7
How to file ITR7
How to fill up ITR7
Due date of ITR7
ITR7 Due Date
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Sir you should make course regarding ITR 7 for professional and tax consultant
Will give it a thought ! Thank you so much
Such a valuable knowledge have been provided by you sir. 🌟
Ok Sir Thanks for guidance
Regards, sir
Would like to connect you with sir ! My contact is 9038966010
@NGOenabler If it is required to me, will contant you, sir.
Thank you for the update
sir when its mandatory to file return for trust ? does it change if we have provisional registration of 12A and 80g ? if we fail to furnish return then will it impact our 11 and 12 section benefit ? trust has total income less than 2.5 lakhs
Yes we should file ITR 7 if we have 12A and 80G registration.. in case of charitable organisations, total income is total receipts. Don't confuse with surplus .. it's actual receipt
@@NGOenabler ya sir total income .. ok thank you sir.
Hello sir, if expenses are more than income for the trust do we have to claim 15% exemption under section 11 or it will be 0 ?
No!
Sir, Accumulation u/s 11(2) was done in P.Y. 2022-23, out of that Rs. 2,00,000 was used in FY. 2023-24, Will this Rs. 2,00,000 will be deducted from total expenditure say 5,00,000 and only 3,00,000 will be put in Schedule A under relief of poor or any . Then what will be Total amount to be allowed as application . Please clarify
300000
Sjr, normal 15% accumulation of current year will become part of corpus fund or not, how to show the same in balsnce sheet schedule
General fund !
Sir, the trust got donations with specific purpose for construction of old age home and the trust is constructing the building now. Should we consider them as corpus donations? Bcoz it is with a specific direction for construction of old age home
You can consider it as Corpus. But general understanding is it's a specific grant and not corpus. For Corpus, usually the statement says it should be directed towards the corpus of the trust
@@NGOenabler thanks for your reply sir
Sir, Corpus Fund and Accumulation u/s 11(1) & (2) are two different things
Yes
Hello Sir. I had filed form 9A in the previous year (FY 21-22) as the trust had accumulated the money for the purpose of building temple. In the current year the trust has spent 35,000/- out of the amount accumulated. The same has to be reflected in Schedule D right? Had a confusion over schedule D and I!
Yes ! Schedule D.
Sir notice has been received for mismatch in source of funds as there is no option of amount utilised from current year income in audit form but it has been given in itr how to reply to notice. Pls reply
Need to revise Form 10B or 10BB as per the income tax return
Ok thanks
Hello Sir. I am filing ITR 7 of an unlisted public company reg u/s 8 of Companies Act. In schedule SH, whether we have to disclose the information w.r.t. investments in shares of unlisted companies, or whether we have to disclose the information about the assessee company's shareholders?
I think SH will be more appropriate
@NGOenabler Actually, I was asking what exactly I need to fill in the SH schedule.
sir in ITR7 AFTER FILLING Json its coming like submitted by entered is not vaild what can we do pls help
It's a technical glitch of the portal
Sir in schedule A point c is not filled by you.
Kyoki agr me bina source of fund to meed revenue expenses bhare age jata hu to validation ke bad error aa rha h
Or agr me pont c bhar deta hu to schedule TI me meri application of income zero ho jati h
Or sari income pr tax ban jata h
Please discuss on call 9038966010
Hi Sir,
For one Trust the S. 80G Exemption Certificate is valid upto AY 2024-25. Please could you advice if we should apply for Renewal of the S. 80G Certificate before 31st March 2024 (end of the Previous Year) or is it valid till 31st March 2025 (the end of the Assessment Year). Thanks .
Actually its valid till 31-03-2024 and renewal is already delayed because it should have been filed 6 months before the expiry of the registration
Thank you so much, Sir.@@NGOenabler
Sir if normal donation (except corpus) is 1 lac and 15% std deduction, then 85000 is to applied but when actual applied income is 80000, then balance 5000/- (85-80) is showing under specified income u/ 115bbi and taxed @30% as per latest itr 7 utility, but as trust is registered u/12 so its not taking criteria of rs 250000 basic exemption limit. Is latest itr 7 utility has this option to keep 5000/- under basic exemption limit. Thanks Rgs
The balance 5000 should be accumulated u/s 11(2) or you can also exercise option u/s 11(1)
Sir,Will ITR 7 be filed for a PF trust?pl respond and help
If it's exempt from income tax , yes ITR 7 shall be filed, otherwise ITR5
Hello sir
Sir we have failed to file itr-7 by 31.12.2023 and in ITR-U some errors are coming....what is the way out sir???
As per my understanding, ITR-U is not applicable to NGOs as there are some conditions to file ITR-U, which is not fulfilled by NGOs
As of now there is no way out
Okay
Thank you sir
Can you help in filing for AY 2024 - 25, sir.
Yes.. 9038966010
Sir, your video about ITR 7 is really exhaustive and timely. Sir in my case the gross receipt is ,Rs.1.67crore and application both revenue and capital works out to Rs.1.93 crore. In this case can we claim 15% accumulation exemption and the net income is negetive because of the capital expenditures Rs.62 lakhs. As per income & expenditure account there is a surplus of Rs.35 lakhs without considering the capital expenditure. Please advise.
CA.HSRam
15% accumulation is not required in this case because the total expenditure is already exceeding!
Yes accumulation not required
Can you please help me sir?
Please call on 9038966010