Schedule VC – Details of Voluntary Contributions AY 2026-27

‘Schedule VC’ in the Income Tax Return (ITR) form is applicable to all assessees filing ITR-7 and is used to furnish details of voluntary contributions received by the assessee during the financial year. It is mandatory for trusts, institutions, and other eligible entities claiming exemptions under Sections 11 or 10(23C) to disclose both domestic and foreign contributions in this schedule.

Schedule VC includes a comprehensive disclosure of all types of voluntary contributions received by a trust or institution during the previous year. It captures both donations (those received with a specific direction to form part of the corpus of the trust or institution) and non-corpus or general donations (which can be applied freely for charitable or religious purposes). The schedule also includes anonymous donations, subject to tax under Section 115BBC.

Section 11, Section 12, Section 115BBC and Section 10(23C) of Income-tax Act, 1961

According to Section 12(1), any voluntary contributions received by a trust or an institution created wholly for charitable or religious purposes shall be deemed to be income derived from property held under the trust.

This schedule applies to ITR-7.