RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

ITR 7 - How to file ITR 7 online

down-arrow
December 12, 2018

As per the guidelines of Income Tax department, all the entities (individuals or commercial units) that claim exemption under Sections 139 4A, 139 4B, 139 4C and 139 4D must use ITR 7 to file returns. ITR 7 is an annexure less return i.e. no document (e.g. TDS certificate) must be attached while filing the return through ITR7. While filling the form, all the figures of amounts must be rounded off to the nearest rupee. The eligibility is varied for various institutions under relevant sections. For instance:

  1. Returns under Section 139 4A are meant to be filed by religious/charitable entities.
  2. Returns under Section 139 4B are meant to be filed by political parties.
  3. Returns under Section 139 4C are meant to be filed by scientific agencies, news agencies etc.
  4. Returns under Section 139 4D are meant to be filed by educational institutions, universities or colleges.

For online return filing using ITR 7 form, following are the steps to be undertaken:

  1. Using digital signature, furnish the relevant information
  2. The furnished data is then submitted on the filing application under different applicable schedules
  3. The verification is then submitted under ITR V form

A standard ITR6 form structured in the following manner must be filled accordingly after accessing the online filing application:

  1. Part A is where the general information etc. is submitted
  2. The gross income earned from the applicable income types is submitted in Part B
  3. The garnered financial corpus and the relevant details (as applicable for the current fiscal) must be submitted in schedule I.
  4. Schedule J is where the details regarding the investment status of the funds (as recorded on the last day of the previous financial year) are submitted.
  5. The details of the founders, authors, Trustees etc. (wherever applicable) are submitted in schedule K.
  6. In case the return is being filed by a political party, the details have to be submitted in schedule LA.
  7. Schedule ET is used to fill in the details in case of an electoral trust.
  8. There is Schedule HP, wherein the earnings from House Property are to be mentioned.
  9. The earnings from any capital gains are submitted under schedule CG.
  10. There is schedule OS, where the earnings from other sources are to be mentioned.
  11. All the details pertaining to any voluntary contributions are submitted under schedule VC.
  12. Schedule OA is where the information related to general business details is submitted.
  13. The earnings from business or profession are submitted under schedule BP.
  14. The earnings that reflect after considering the current year losses are stated in Schedule CYLA.
  15. The calculations related to minimum alternate tax (under Section 115JB (n)) are submitted under schedule MAT.
  16. The details of tax (Section 115JAA) are submitted under schedule MATC.
  17. The calculations related to alternate minimum tax (under Section 115JB (p)) are submitted under schedule AMT.
  18. The details of tax (Section 115JD) are submitted under schedule AMTC.
  19. Tax collected at source is submitted under schedule TCS.
  20. Tax deducted at source (for salary) is submitted under schedule TDS.
  21. The details of foreign assets are submitted under schedule FA.
  22. Taxes paid outside India are submitted under schedule TR.
  23. Any earnings from a source outside India are submitted under schedule FSI.

HDFC Life offers HDFC Life Click 2 Invest ULIP a unit linked insurance plan that offers market linked returns and offers tax benefits under Sections 80C and 10D.

Calculate Insurance Premium

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile
Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

Income Tax Slab FY 2024-25 and AY 2025-26

Income Tax Slab FY 2024-25 and AY 2025-26

The latest income tax slabs for FY 2024-25 and AY 2025-26, including new and old regime rates, deductions, key highlights for smart tax planning, and savings tips.

Tax Planning for Salaried Employees: Key Pointers to Consider

Income Tax Saving Tips for Young Earners

What is Tax Declaration Form? - Process to File Income Tax Declaration

Investment declaration has to be done in the beginning of a financial year. Read to know what is form 12BB & the step by step process to declare investments!

What is Tax Declaration Form? - Process to File Income Tax Declaration
How to File ITR 6 Online - Complete Details Previous
How to Pay Your Income Tax Online? Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular Search

Popular Searches