Schedule VII - Approved funds and exempt institutions
Reviewed by CA Nikhil Gupta · Last reviewed 19 July 2026
Employee-welfare funds, substantially financed institutions and infrastructure debt funds.
Primary authority: Official Income-tax Act, 2025 repository · Income-tax Rules, 2026
Currentness control: The official Schedule, notes, tables, amendments and relevant tax year control.
Schedule in 2 minutes
What it controls
Employee-welfare funds, substantially financed institutions and infrastructure debt funds.
Rule and Form interface
Rules 286-288; Form 180
Finin2min implementation framework
Trigger and scope
Employee-welfare funds, substantially financed institutions and infrastructure debt funds.
Evidence and control
Preserve eligibility evidence, computation sheets, audit or accountant reports, approvals, statements and filing acknowledgements.
Consequence
Failure of a Schedule condition may change taxable income, exemption, deduction, rate, carry-forward, reporting or approval status.
Transaction application
Identify the actor, event date, governing tax year or reporting period, authority, document version and every cumulative condition. Record why each limb is satisfied, disputed or not applicable.
Authority, consent and execution
Confirm legal capacity, authorised signatory, digital-signature requirements, professional certification and portal credentials before filing or relying on the document.
Evidence and retention checklist
Retain source data, approvals, computations, correspondence, filing acknowledgement, payment record, amended filing history and the version of the governing instrument used.
Limitation, forum and remedies
Do not assume a general limitation period. Check the specific Act, Rule, notification, portal window, condonation power, appeal route and judicial treatment applicable to the event date.
Cross-law overlays
Check the Income-tax Act, 2025, Rules, Forms, tax treaty, FEMA, Companies Act, Ind AS and audit requirements as relevant.