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π§Ύ ITR-5 Return Filing in India β For Firms, LLPs, AOPs, BOIs & More
ITR-5 is a crucial form under the Income Tax Act for entities other than companies such as firms, LLPs, AOPs, BOIs, and certain others who are not eligible to file using ITR-1 to ITR-4 or ITR-6/7. If your organization needs to stay compliant with income tax laws in India but doesnβt fall under the company category, ITR-5 is for you.
π India Fills is your trusted partner for seamless, secure, and accurate ITR-5 income tax return filing services in India. Let us handle your taxes while you focus on growing your business.
β Who Can File ITR-5 Form?
The following entities are eligible to file their income tax return using the ITR-5 form:
- π’ Firms
- βοΈ Limited Liability Partnerships (LLPs)
- π§βπ€βπ§ Association of Persons (AOP)
- π¨βπ¨βπ§βπ¦ Body of Individuals (BOI)
- π Estate of a deceased or insolvent person
- π§ Artificial Juridical Person under Section 2(31)(vii)
- πΌ Business trusts and investment funds
- ποΈ Co-operative societies
- ποΈ Local authorities
β Entities required to file under sections 139(4A), 139(4B), 139(4C), or 139(4D) cannot use this form.
π« Who Cannot File ITR-5 Form?
The following are not eligible to file ITR-5:
- π€ Individuals (Use ITR-1 to ITR-4)
- πͺ Hindu Undivided Families (HUFs) (Usually use ITR-2 or ITR-3)
- π’ Companies (Required to file ITR-6 or ITR-7)
- π Charitable/religious institutions, political parties, etc. filing under Section 139(4A)-(4F) β they must file ITR-7
π Due Dates for Filing ITR-5
Scenario | Due Date |
β Audit Required | 31st October of the Assessment Year |
π Form 3CEB Applicable (Transfer Pricing) | 30th November of the Assessment Year |
β No Audit Required | 31st July of the Assessment Year |
Avoid penalties by filing on or before the due date. India Fills sends timely reminders so you never miss a deadline!
π§Ύ Structure of the ITR-5 Form
The ITR-5 Form is divided into multiple parts and schedules to capture detailed financial information:
π§© Main Parts:
- Part A β General Information (PAN, Name, Address, etc.)
- Part A-BS β Balance Sheet
- Part A-Manufacturing Account
- Part A-Trading Account
- Part A & L β Profit and Loss Account
- Part A-OI β Other Information
- Part A-QD β Quantitative Details
- Part B β Computation of Total Income & Tax Liability
π Schedules (31 in total):
These cover:
- Income from business/profession
- Capital gains
- Deductions
- Depreciation
- Foreign income/assets
- Tax credit & relief
- TDS and TCS details
π° Tax Payment Details Include:
- Advance Tax
- Self-Assessment Tax
- TDS (Form 16A, 16B, 16C)
- TCS
π Recommended Filing Sequence
The Income Tax Department suggests filing the ITR-5 form in the following order:
- Part A
- Applicable Schedules
- Part B
- Verification Section
π¦ No Document Attachment Required
There is no need to attach any supporting documents or proof while filing ITR-5. However, keep them handy for records or if required later by the Income Tax Department.
π Why Choose India Fills for ITR-5 Filing? π₯
India Fills ensures that your ITR-5 is accurate, compliant, and timely. Here’s what makes us the preferred partner:
π¨βπΌ Expert Tax Guidance
Our seasoned professionals handle every aspect of your ITR-5 filing, ensuring accuracy and full compliance with tax laws.
π Deduction Optimization
We help you claim all eligible deductions and exemptions, reducing your overall tax burden.
π Review & Verification
Before filing, we thoroughly review your return to ensure there are no errors or omissions.
π Secure & Confidential
Your financial data is encrypted and stored securely, following best-in-class data privacy standards.
β° Timely Reminders
Never miss a deadline again! We notify you of all key filing dates and updates.
π οΈ Post-Filing Support
Got queries after filing? Weβre here to help with post-filing updates, rectifications, or clarifications.
π Get Started with India Fills Today!
Avoid the complexities of tax filing with professional help from India Fills. Whether you’re a firm, LLP, AOP, or BOI β our ITR-5 filing services are designed for your unique needs.
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Accurate Filing
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Transparent Pricing
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Prompt Support
π Contact us now to simplify your ITR-5 filing process with expert help from India Fills!
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