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The Central Board of Direct Taxes (CBDT) has amended ITR -7 so as to allow taxable income of assessees eligible to file ITR -7 liable for tax rate at the rates applicable to AOP i.e. Slab rate...
The CBDT circular has issued a curcular providing relaxation in respect of filing Form 10B/10BB, ITR-7 till THIS Date.
The form ITR 7 is filled by Charitable and Religious Trusts, Political Parties, Scientific research institutions, University, college or other institutions.
As the last date to file your income tax return (ITR) looms closer, one should note that filing your Income Tax Return (ITR) using the wrong form can lead to various consequences. The Income Tax Department may reject your return, requiring you to refile with the correct form.
In February this year, the Income Tax Department issued the ITR forms for individuals, Hindu Undivided Families, businesses, and others for 2022-23 fiscal. The utilities can be easily downloaded from the Income Tax e-filing website.