📝 Who Must File ITR‑7?

ITR‑7 is applicable to organizations required to file returns under these Income Tax Act sections:

139(4A): Charitable or religious trusts/institutions claiming exemption under Section 11
139(4B): Political parties
139(4C): Research associations, news agencies, and other institutions under Section 10
139(4D): Universities and educational or medical institutions
Also used by entities claiming exemption under Sections 10(21), 10(23C), 12A, 80G, etc. economictimes.indiatimes.com+15caclubindia.com+15tradeviser.in+15 linkedin.com

Not for companies (ITR‑6), individuals, firms, LLPs, etc.

🆕 Key Changes in AY 2025–26 Form

1. Capital Gains Reporting Split

Separate disclosure of transactions before and after 23 July 2024, aligning with Finance Act 2024’s updated tax rates cleartax.in+4caclubindia.com+4businesstoday.in+4.

2. Share Buyback Losses

Losses on buybacks post‑1 October 2024 now permissible if related dividends are disclosed under “Other Sources” business-standard.com+15caclubindia.com+15cleartax.in+15.

3. Interest on Borrowed Capital (Sec 24b)

New fields added to report home loan interest claimed by trusts/institutions businesstoday.in+7caclubindia.com+7indiatoday.in+7.

4. TDS Section Code Disclosure

Mandatory to specify exact TDS section codes in Schedule-TDS for clarity and verification cleartax.in+3caclubindia.com+3indiafilings.com+3.

5. Enhanced Transparency

New disclosures include:

Voluntary and foreign contributions, fund utilization, accumulated income
Registration compliance (FCRA, SEBI, MCA)
Audit-report uploads before filing date
These streamline audits and ensure compliance cleartax.in+12business-standard.com+12economictimes.indiatimes.com+12 blog.saginfotech.com+1caclubindia.com+1 tradeviser.in.

📂 Form Structure & Filing Requirements

Parts A–B: Organization info, donations, grant receipts
Schedule CG: Capital gains pre/post‑23 July 2024
Schedule OS: Other income including dividends, interest, buyback
Schedule TDS, Tax Paid, audit report details
Fund utilization & expenditure schedules for exempt income
Disclosure Attachments: FCRA details, registration numbers, audit certificates (like Form 10B) reddit.com+11cleartax.in+11caclubindia.com+11 reddit.com

Audit prerequisites: Upload relevant audit report before filing if required (e.g., under Section 12A(1)(b), 10(23C)(iv), or Section 92E) .

⏰ Due Dates

Non‑audit entities: by 15 September 2025 (some sources cite 31 July, but cleartax gives 15 Sept)
Audit-subject entities: by 31 October 2025 cleartax.in+1reddit.com+1

✅ Filing Process & Verification

E-filing only, via incometax.gov.in
Verification can be done using DSC, EVC, or Aadhaar OTP; political parties must use DSC/EVC — no paper ITR-V allowed indiafilings.com+13linkedin.com+13cleartax.in+13
Ensure audit report is uploaded at least one month before the filing due date economictimes.indiatimes.com+15tradeviser.in+15linkedin.com+15

🛡 Why It Matters

Aligns with the Finance Act, 2024, increasing accuracy in gains reporting
Reduces tax mismatches via TDS transparency
Boosts accountability and compliance through disclosure of fund usage, foreign income, and audit reports
Targets charitable/public-income misuse with stricter documentation reddit.com+14blog.saginfotech.com+14indiafilings.com+14 caclubindia.com

📌 Summary

ITR‑7 is the mandated return form for tax-exempt entities—trusts, NGOs, political bodies, research institutes, and educational institutions. For AY 2025–26, expect enhanced schedules, separation of capital gains, buyback loss declarations, detailed TDS, funding disclosures, and compulsory audit-report uploads. Filing is solely online and must be done within specified deadlines.