What Are the Eligibility Criteria for Filing ITR-6 Form?
The ITR-7 Form applies to individuals receiving income from various sources:
- Section 139(4A): Those with income from property held under trust or legal obligations for charitable or religious purposes.
- Section 139(4B): Political parties with income exceeding the non-taxable limit.
- Section 139(4C): Organizations such as scientific research associations, hospitals, educational institutions, universities, and news agencies.
- Section 139(4D): Colleges and universities are not mandated to file returns otherwise.
- Section 139(4E) and Section 139(4F): Business trusts and investment funds with no obligation to file under other provisions.
Any taxpayer who falls under the categories of Trust, Company, Firm, Local Authority, Association of Persons (AOP), or Artificial Judicial Person and claims exemptions as per Section 139(4A), Section 139(4B), Section 139(4C), or Section 139(4D) can utilize the ITR-7 Form for filing Income Tax Returns.
ITR-6 Deadline
The due date for filing the ITR-7 Form varies depending on whether the accounts require auditing. Individuals not subject to audit can file by July 31, 2023, for AY 2023-24, while audit cases have a deadline of October 31, 2023.
The filing date for Form ITR-7 for the Assessment Year 2023-24 for assesses is detailed in clause (a) of Explanation 2 to sub-section (1). The original deadline of Section 139 of the Act, which was October 31, 2023, has been extended until November 30, 2023.