IT Return

Compliance Procedures

Filing of return

All Charitable Organisations having income exceeding the minimum exemption limit during the previous year are required to file their return of income. The ‘income’ for the purposes of filing the return should be computed without giving effect to the provisions of sections 11 and 12 of the Act. The return is to be filed as per the provisions of section 139(4A) and (4C) in the manner provided in section 139 of the Act.

It is mandatory for an organisation to file return of income electronically with digital signature including an organisation liable to get its accounts audited under section 44AB. 

A return filed online must be e-verified. E-verification can be done using an Aadhaar OTP or through net banking or using bank account or Demat account. If you are unable to e-verify your return, you can download the return filing acknowledgement i.e. ITR V, print it out, sign it and send the same to CPC, Bangalore for processing of your return. Further, if you are filing a paper return (in case you are not bound to file your return online), you may sign your return of income for verifying it and submit the same in the office of your jurisdictional income.

Process to e-Verify the Return 

-    Login to with your credentials
-    Select the ‘View Returns/Forms’ option to see e-filed tax returns.
-    Select the option ‘Click here to view your returns pending for e-verification’  
-    Select the option ‘e-verify’.
-    When you click on e-verify, there is a list of modes through which you can generate an EVC.
-    Upon successfully generating the EVC through the desired mode, enter the EVC and submit.  
-    A confirmation message will be displayed with a transaction ID and EVC code. Click on the green button to download the attachment. This is for your record only. No further action is required.

Forms and Due Dates

The return of income must be furnished in Form No. ITR-7 and verified in the prescribed manner containing all the prescribed particulars. Such return of income must be furnished by the representative assesse within the time prescribed under section 139(1) electronically under digital signature or otherwise.

The due date of filing of return shall be 31st October of the assessment year as where the income of a charitable trust, before claiming exemption under section 11 to 12 exceeds the maximum amount chargeable to tax i.e. Rs 250,000,   its accounts are required to be audited. If it does not wish to take exemption under sections 11 and 12 then the due date shall be 31st July of the assessment year. 

Delayed Submission / Revision / Correction of mistakes in Return 

If an organisation fails to furnish its return of income within the due date, it can still submit a belated return of income any time before the 31st day of December of the relevant assessment year or before the completion of the assessment whichever is earlier. For instance, a return of income for the current financial year can be submitted up to 31st December of the assessment year.  

If an organisation having furnished a return, discovers any omission or any wrong statement in its return, organisation may furnish a revised return at any time before the 31st day of December of the relevant assessment year or before the completion of the assessment, whichever is earlier.

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