Home Audit & Assurance CBDT notifies Income Tax Return Form ITR-7 u/s 139 for AY 2024-25

CBDT notifies Income Tax Return Form ITR-7 u/s 139 for AY 2024-25

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CBDT notifies Income Tax Return Form ITR-7 u/s 139 for AY 2024-25

CBDT notifies Earnings Tax Return Type ITR-7 u/s 139 for AY 2024-25

The Central Board of Direct Taxes (CBDT) has notified the Earnings Tax Return Type ITR-7 beneath part 139 of the Earnings Tax Act 1961 for AY 2024-25 by way of issuing Notification.

Type ITR-7 notified for individuals together with firms required to furnish returns beneath sections 139(4A) or 139(4B) or 139(4C) or 139(4D) solely] for the Evaluation Yr 2024-25 with impact from April 01, 2024.

ITR-7 is an earnings tax return type designed for entities resembling corporations, firms, native authorities, associations of individuals (AOPs), and synthetic judicial individuals. It’s utilized when these entities search exemptions beneath sure provisions of the Earnings Tax Act.

The Notification Learn as follows:

In train of the powers conferred by part 139 learn with part 295 of the Earnings tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the next guidelines additional to amend the Earnings-tax Guidelines, 1962.

These guidelines could also be known as the Earnings-tax (Third Modification) Guidelines, 2024. They shall come into drive on the first day of April 2024.

For Official Notification Obtain PDF Given Under:

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