Income Tax Return (ITR) 5

Income Tax Return (ITR) 5 is a tax form designed for firms, Limited Liability Partnerships (LLPs), Associations of Persons (AOPs), Bodies of Individuals (BOIs), estates of deceased persons, artificial juridical persons, business trusts, investment funds, insolvent individuals, and local authorities. It is a comprehensive form used by various non-individual entities to declare their income and pay applicable taxes.

Applications for Filing ITR 5

ITR 5 can be filed online using the Income Tax Department’s e-Filing Portal or through our commercial tax filing platform.

Eligibility Criteria for Filing ITR 5

The entities eligible to file ITR 5 include:

• Firms
• Limited Liability Partnerships (LLPs)
• Associations of Persons (AOPs)
• Bodies of Individuals (BOIs)
• Estates of deceased persons
• Artificial juridical persons
• Business trusts
• Investment funds
• Insolvent individuals
• Local authorities

Documents Needed to File ITR 5

The specific documents required for filing ITR 5 may vary depending on the type of entity and its activities. However, common documents typically include:

• PAN card (for firms, LLPs, AOPs, BOIs, and estates of deceased persons)
• Partnership Deed (for firms)
• LLP Agreement (for LLPs)
• Trust Deed (for trusts)
• Certificate of Incorporation (for artificial juridical persons)
• Profit and Loss Account (P&L) Statement
• Balance Sheet
• Bank account statements
• Proof of business expenses (e.g., invoices, receipts)
• Proof of investments (e.g., mutual funds, stocks, bonds)
• Proof of deductions (e.g., corporate social responsibility (CSR) expenses, donations)