What is Income Tax 5 Filing ?

ITR-5 Form can be used by Firms, Limited Liability Partnerships(LLPs), Association of persons(AOPs) and Body of Individuals(BOIs), Artificial Juridical Person, Cooperative society and Local authority, provided they are not required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) (i.e., Trusts, Political party, Institutions, Colleges, etc.).
Individuals, HUFs (Hindu Undivided Families), Companies cannot use the ITR-5 Form.

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FAQ
  • Who can use ITR-5 Form ?
      ITR-5 must be filed by firms, LLPs (Limited Liability Partnerships), AOPs (Association of persons) and BOIs (Body of Individuals), artificial juridical person, cooperative society and local authority.

  • Who should not file ITR-5 Form ?
      ITR-5 cannot be filed by Taxpayers who fall under the below category :
    Assessees who are required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) (i.e., Trusts, Political party, Institutions, Colleges, etc.)
    Individuals, HUFs (Hindu Undivided Families), Companies

  • When should ITR-5 be filed ?
      ITR-5 form is to be used when the assessee is one of the following :
    Firms
    LLPs (Limited Liability Partnerships)
    AOPs (Association of persons)
    BOIs (Body of Individuals)
    Artificial juridical person
    Cooperative society
    Local authority

  • What is the due date for filing ITR-5 Form ?
      Due date for filing the income tax return is 31st August.

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