vinujaglan.com · Founder's official site 
Step by step
- 1
Close accounts
Receipts and payments, income and expenditure, balance sheet.
- 2
Audit
Get Form 10B / 10BB uploaded by the auditor and accepted.
- 3
Accumulation
If 85% is not applied, file Form 10 before the return.
- 4
File ITR-7
Fill application of income, donations and registration details.
- 5
Verify
With DSC or EVC of the authorised trustee.
Who files ITR-7
- Trusts and institutions registered under section 12AB, and funds approved under 10(23C)
- Political parties
- Scientific research associations, news agencies and specified associations
- Universities, colleges, hospitals and other institutions claiming exemption
Rules that decide exemption
- Apply at least 85% of income to the objects in the year, or accumulate with Form 10 (up to five years)
- Anonymous donations above the limit are taxed at 30%
- Donations received must be reported in Form 10BD by 31 May, and certificates (10BE) issued to donors
- Registration must be renewed every five years — missing it can trigger exit tax
Where things stand
Late filing by a trust is costly: exemption can be denied for that year. If you missed a date, talk to us before filing so the right condonation route is considered.
Next year: income of FY 2026-27 (Tax Year 2026-27) is taxed under the Income-tax Act, 2025, and returns for it are filed in 2027. The department notifies the forms for that year separately — the names and schedules may change, so check the form notified for Tax Year 2026-27 before filing.
Common mistakes
- Filing the return before the audit report
- Missing Form 10BD
- Using corpus donations for revenue spending
Frequently asked questions
If it is registered and claims exemption, yes — exemption depends on filing the return on time.
Last reviewed on 11 November 2026 by Vinay Jaglan, VJ & Associates. Law and portal screens change — verify before acting, or ask the office.
