Schedule J – Statement Showing the Funds and Investments as on the Last Day of the Previous Year AY 2026-27
‘Schedule J’ applies to assessees claiming exemption under sections 11 and 12 or section 10(23C)(iv), (v), (vi), or (via) and provides a detailed snapshot of the application, accumulation, and investment of funds as on the last day of the previous year.
Schedule J requires reporting of the movement and utilisation of corpus and loan funds by trusts or institutions claiming exemption. Part A1 captures details of corpus funds, including the opening balance, receipts, applications, redeposits, and closing balance as on 31st March, classified into three categories based on the nature and timing of receipt.
It also specifies the extent of investment in modes under section 11(5). Part A2 deals with loans and borrowings, tracking their opening and closing balances, utilisation, and repayments. Part B provides a category-wise breakup of corpus investments under section 11(5). Part C reports investments in concerns where interested persons hold substantial interest, while Part D includes other investments. Part E discloses in-kind donations not yet invested in permitted modes, with the unutilised portion liable to be treated as income under section 11(3).
- Section 10(23C), Section 11 , Section 12 of Income-tax Act, 1961
A trust deriving income from a property held under trust for charitable or religious purposes is not included in its total income if such income is applied for charitable purposes in India. The application of income includes all payments and expenditures for the purpose of charitable and religious purposes in India. However, there are certain payments which are not considered as a valid application of income.
This schedule applies to ITR-7.