Income-tax (Twenty-Seventh Amendment) Rules, 2023


The Central Board of Direct Taxes vide notification dated 31st October, 2023 has issued the Income-tax (Twenty-Seventh Amendment) Rules, 2023. They shall be deemed to have come into force from 1st day of April, 2023.

The amendment has revised the ITR-7 Form, which is required to be filed by every:

  1. Person in receipt of income derived from property held under trust or other legal obligation wholly for charitable or religious purposes or in part only for such purposes.
  2. Political party if the total income exceeds the maximum amount which is not chargeable to income-tax.
  3. Scientific research association ;
  4. News agency ;
  5. University or other educational institution or any hospital or other medical institution.
  6. Business trust or investment fund which is not required to furnish return of income or loss under any other provisions.

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