ITR-5 – Complete Guide to Your Income Tax Return

What is ITR-5?

ITR-5 is an Income Tax Return form for partnership firms, LLPs, Association of Persons (AOPs), Body of Individuals (BOIs), artificial juridical persons, cooperative societies, local authorities, and certain other entities. It is not for individual taxpayers.

Who Can File ITR-5?

You can file ITR-5 if you are:

  • A Partnership Firm (including LLPs).
  • An Association of Persons (AOP).
  • A Body of Individuals (BOI).
  • An Artificial Juridical Person.
  • A Co-operative Society.
  • A Local Authority.
  • A business trust, investment fund, or similar entity.

Who Cannot File ITR-5?

You cannot use ITR-5 if:

  • You are an Individual or HUF (use ITR-1, 2, 3, or 4).
  • You are a company (use ITR-6 or ITR-7 as applicable).

Due Date for Filing ITR-5

  • Non-audit cases: 15th July of the Assessment Year.
  • Audit cases: 31st October of the Assessment Year.
  • Example: For AY 2025-26, the due date is 15 September 2025 (non-audit) or 31 October 2025 (audit).

Benefits of Filing ITR-5

  • Mandatory compliance for registered firms and entities.
  • Proof of income for loans, tenders, and contracts.
  • Helps in tax refunds for overpaid taxes.
  • Avoids penalties and interest for late filing.

Documents Required for ITR-5 Filing

  1. PAN Card of the firm/entity
  2. Partnership deed / LLP agreement (if applicable)
  3. Financial statements (Balance Sheet, Profit & Loss account)
  4. Audit report (if required)
  5. Bank account details
  6. Details of partners/members
  7. Capital gains statements (if any)
  8. Investment proofs for deductions
  9. Previous year’s ITR
  10. Details of other income

ITR-5 Filing Process

  1. Prepare financial statements for the relevant year.
  2. Calculate total income, including all eligible deductions.
  3. Compute tax liability.
  4. Login to the Income Tax e-filing portal.
  5. Fill ITR-5 form with accurate details.
  6. Submit and complete digital signature or EVC verification.

Why Choose Us for ITR-5 Filing?

  • ✔ 5+ years of tax filing expertise
  • ✔ Specialisation in partnership firm & LLP returns
  • ✔ Accurate tax calculation & compliance
  • ✔ Secure, hassle-free online process
  • ✔ Audit support (if applicable)