ITR-7 is an income tax return form that is to be submitted by tax assessees who are required to file returns under key sub-sections of Section 139 of the Income Tax Act, 1961.
For persons including companies required to furnish return under:
Taxpayers who are not claiming exemption under:
| # | Taxable Income | Income Tax Rate |
|---|---|---|
| 1 | Up to 2.5 lakh | Nil |
| 2 | From 2,50,001 to Rs 5,00,000 | 5% |
| 3 | From 5,00,001 to Rs 7,50,000 | 10% |
| 4 | From 7,50,001 to 10,00,000 | 15% |
| 5 | From 10,00,001 to Rs 12,50,000 | 20% |
| 5 | From 12,50,001 to 15,00,000 | 25% |
| 5 | Above 15,00,000 | 30% |