The New ITR-7 Form,Part B-TI requires reporting of the amount accumulated or set-aside for specified purposes.
The New ITR-7 Form, Part B-TI requires reporting of the amount accumulated or set-aside for specified purposes if all conditions in sections 11(2) and 11(5) or the third proviso to section 10(23C) are fulfilled. If any amount is accumulated, the assesse is now also required to report the following information:
(a) whether option in Form No. 10 has been furnished to the Assessing Officer,
(b) If yes, date of furnishing Form No. 10.
Previously, these details were only required for Form No. 9A i.e. in case of if any amount was considered as a deemed application. However, now such information is also required for amounts accumulated by filing Form 10.
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