Section 10(25)(iv) and itr 7

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Sandeep Diwan (Querist)
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09 September 2016 The assessee is a Gratuity Trust and has obtained approval from Income tax department under Part C of Schedule IV of Income Tax Act. we have filed return of income in ITR-7 for AY 2014-15 and AY 2015-16 by claiming exemption u/s 10(25)(iv) - Income received by trustees on behalf of approved gratuity fund. In the instance case the assessee can claim the exemption under above relevant section, there is no provision to select the relevant section in ITR-7. how to proceed with this?? in the intimation we received after processing return the claim has been disallowed.

Please advice how to handle this situation.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 September 2016 ITR 7 is not the relevant form. No need to file return for gratuity trust. If still want to file, file ITR 5 showing the receipts under exempted income.