Please Help: ITR of Political parties
Posted Date : 10-Feb-2012 , 12:39:30 am | Posted By: Aashish Kumar Jain
Category :
Income Tax | Answers :
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Comments :
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Can any one please tell me that any political parties filing his income tax return (Form 5)for A.Y. 2010-11 as on now date(in feb 2012)are required to file the return electronically or manual return can be submitted.
Please give the reference also where i could found the same.
I am waiting for your response
Please reply as soon as possible
Thanks in Advance |
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Answers:
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 Answer by: Lavina Bajaj |
| hello..
firstly form 7 is required to be furnished in case of political parties under section 139(4B) of the income tax act 1961.
secondly this form has to be filed in paper form i.e. manually...
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| Answer by: CA Gaurav Kumar Agarwal |
| political parties are dealed u/s 139(4B)of IT Act 1961, & they are required to file ITR 7 from AY 11-12, earlier it was ITR 8 till AY 10-11.
now, refering to your question from the AY 2011-12, it is require to file ITR 7 mannually in paper form.
Refer incometaxindia.gov.in
Instruction copied from site is.
Instructions for filling FORM No. ITR-7
(to be detached before filing the return)
1. Legal status of instructions
These instructions though stated to be non-statutory, may be taken as guidelines for filling the particulars in this Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962.
2. Assessment Year for which this Form is applicable
This Form is applicable for assessment year 2011-2012 only.
3. Who can use this Form
This Form can be used by persons including companies who are required to furnish return under section 139(4A) or under section 139(4B) or under section 139(4C) or under section 139(4D).
4. Manner of filing this Form
This Form has to be filed in a paper form
5. Filling out the acknowledgement
Acknowledgement slip attached with this Form should be duly filled out.
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| Answer by: |
| For ur kind informatiom political parties have to file form7 not form5
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| Answer by: Rambabu Senkarasetti |
| For ur kind informatiom political parties have to file form7 not form5
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| Comments |
| Posted By : Kshitij Nijhawan |
16-Feb-2012, 10:04:52 |
| Return shall be filed manually since software does not work to prepare these returns. |
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