ITR-7 tax liability nearly triples to ₹1,043 crore in AY26 from ₹356 crore in five years, govt data shows
The total income tax liability for entities filing ITR-7 surged to ₹1,043 crore in Assessment Year 2025-26, nearly tripling from ₹356 crore in AY 2021-22. This increase of ₹687 crore represents a 193% rise over five years, as reported by Minister of State for Finance Pankaj Chaudhary in Parliament. The data reflects the tax obligations of charitable trusts, political parties, and educational institutions, indicating a significant growth in their taxable income.