Trust and NGO Tax Return Filing

Overview

Trust / NGO Tax Filing is the annual filing of Form ITR-7 that Taxeto prepares for trusts, societies and Section 8 companies, reporting income, donations received and application of funds under the Income Tax Act, 1961. Taxeto ensures this filing is completed even where income is exempt, so the organisation continues to enjoy benefits under its 12A registration and remains credible to donors and grant-making bodies.

Benefits

• Maintains continuation of tax exemption benefits under 12A registration
• Ensures compliance with income tax laws
• Builds transparency and trust among donors and stakeholders
• Helps in receiving grants and donations

Eligibility

• Charitable trusts
• NGOs and societies
• Section 8 companies
• Religious institutions and institutions claiming tax exemption

Documents Required

1. 1PAN Card of the trust/NGO
2. 2Registration certificate
3. 3Financial statements (P&L, Balance Sheet)
4. 4Donation details
5. 5Bank statements
6. 612A and 80G certificates (if applicable)

Process

1. 1

   Preparation of financial statements

   Compile the P&L account and Balance Sheet for the organisation.

2. 2

   Calculation of income and exemptions

   Determine exempt income and application of funds.

3. 3

   Filing of ITR-7

   Submit the return on the income tax portal.

4. 4

   Compliance and advisory support

   Advise on maintaining 12A/80G eligibility.

5. 5

   Audit assistance

   Support audit filing where applicable.

Frequently Asked Questions