Changes in the notified ITR-7 for AY 2020-21

1. Corpus donation not to be considered as an application of Income –Schedule ER-Part B :

ITR-AY 2019-20 had the details of Donation made towards the Corpus fund of Donee Society/Trust.

However, in ITR-AY 2020-21, only Donation-Other than Corpus in Part B of Schedule ER

Schedule ER-Part B

2. Disallowable Expenditure –Schedule ER –Part C :

In Part C of Schedule ER, we need to report any item of expenditure which is disallowable. In ITR-AY 2020-21, one addition has been made to part C which is ” Donation forming part of corpus fund”

Schedule ER –Part C

3. Schedule Capital Gain Modified –Schedule CG-Part A :

In the previous year ITR, the details of ‘ Exemption other than under section 11(1A) (if Any) and ‘Exemption under 112A’ could be  furnished in the Schedule CG (Capital Gains). In the new ITR applicable for the assessment year 2020-21, these columns have been deleted.

AY 2019-20 ܺRemoved in AY 2020-21

4 Exemption other than u/s  11(1A), if any (pls. Specify section) A4

4. Details of Re-registration made under new provisions :

Details of re-registration is being asked in the ITR-AY 2020-21 as mentioned in the below table.

The Finance Act 2020 introduced new section 12AB replacing section 12AA and also bringing similar changes in section 80G. These changes were supposed to be effective from 1-Jun-2020. However, due to the COVID-19 crisis, the implementation of new procedure/approval deferred to 1-Oct-2020.

The due date to file the ITR for AY 2020-21 is extended to 31st Oct 2020. Therefore, below details asked shall be filled only if the application for registration under new provision has been filed before the filing of Income-Tax Return

Details of Re-registration made under new provisions

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2 Comments

  1. R.Gangi reddy says:

    I am doing NGO consultancy in Andhra Pradesh. I have NGO customers for filing annual returns. We are depending on local auditors. There is a delay,so I am unable to satisfy my customers. Can you help me.In what way?.

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