He has admitted to hiding money from image rights in 2011 and 2012 and is ordered to pay a fine of €142,822 (£128,000).
However, Carvalho is unlikely to spend any time behind bars, with Spanish law requiring a sentencing of two years or more for non-violent crimes to warrant jail time.
Prosecutors were pushing for 12 months in prison, along with a €300,000 (£269,000) fine - but the Spanish court acknowledged the 39-year-old's cooperation, ordering a seven-month sentence instead.
The incident leaves a blot over the ace's professional playing career, with Carvalho regarded as the best defender in the league during his time at Chelsea.More news: Astros soundly beat Red Sox in ALDS Game 1
Carvalho spent three years at Stamford Bridge before joining up with Mourinho at Real Madrid, and the pair won the La Liga title together in 2012.
Football Espana also claims the player, who now plays for Chinese Super League side Shanghai SIPG, was praised "for his full acknowledgement of the circumstances and compliance in proceedings".
Ricardo Carvalho has been found guilty of tax offences in Spain.
Ronaldo appeared in front of a judge in Madrid last July to stand accused of a €14.7 million fraud.