I have flashed the image for a development board imx6 solo sd which is ARMv7l arch. Build by yocto project.
Now I have a application to port, for which I will be needing the tool chain, right? If yes please let me know where/how to get it.
Yes. You'll probably need a toolchain. Depending on application you want to port, you can generate a specific toolchain with yocto.
bitbake meta-toolchain-qt5
bitbake <image_name> -c populate_sdk
, where <image_name>
is the name of image you builded and flashed in your board.