The Income Tax Department has finally released the ITR-7 Excel utility for Assessment Year 2026-27, giving eligible trusts, institutions, and other entities a smoother way to prepare and upload their tax returns.
Who Can Use ITR-7 Excel Utility?
The Excel utility is designed for specific types of entities that are required to file a return under the income-tax laws, including:
- Trusts other than those which are required to file Form No. 10AB
- Institutions, such as universities, colleges, schools, hospitals, etc.
- Political parties registered under the Registration of Political Parties Act, 2011
- Research associations (only if they don’t have a permanent account number)
- Securities transaction taxpayers (only if they don’t have a permanent account number)
How to Prepare and Upload ITR-7 Returns
The process of preparing and uploading ITR-7 returns using the Excel utility is straightforward:
Eligible entities can download the ITR-7 Excel utility from the e-filing portal and fill in the required details in the Excel sheet.
Once the details are filled in, entities can save and upload the Excel sheet through the e-filing portal.
The uploaded return will be generated and can be submitted by the entity.
Applicable Deadlines
The due date for filing the ITR-7 return for Assessment Year 2026-27 is 31st July 2027.
In case of any delay, entities can file Form ITR-V (acknowledgement) within 120 days from the due date of filing the return.
What this means: This release will help entities who need to file ITR-7 returns save time by preparing and uploading their returns offline, streamlining the process and reducing errors.
