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ITR-5 Form

What is the ITR-5 Form

This tax return is supposed for firms, LLPs, AOPs (Association of persons) and BOIs (Body of Individuals), Artificial Juridical Person (AJP), Estate of deceased, Estate of insolvent, Business trust and investment fund.Click here to look at the newest ITR-5 form from the tax Department.

E-filing audit reports

From AY 2013-14 onwards just in case an assessee who is required to furnish a report of audit under sections 10(23C)(iv), 10(23C)(v), 10(23C)(vi), 10(23C)(via), 10A, 10AA, 12A(1)(b), 44AB, 44DA, 50B, 80-IA, 80-IB, 80-IC, 80-ID, 80JJAA, 80LA, 92E, 115JB or 115VW he shall file the report electronically on or before the date of filing the return of income.

Who is eligible to file the ITR-5 Form

This form are often used an individual being a firm, LLPs, AOP, BOI, artificial juridical person mentioned in section 2(31)(vii),estate of deceased, estate of insolvent, business trust and investment fund, cooperative society and native authority. However, an individual who is required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) shall not use this type .unsure which ITR form you would like to use? Read our guide for help.

Key changes within the ITR-5 Form in AY 2019-20

The key changes within the ITR-6 Form in AY 2019-20 are summarised below:

1. Details of recognition as a start-up by DPIIT.
2. Details of declaration filed in Form-2.
3. Information about partnership firms during which you’re partner.
4. Bifurcation of donations into cash and non-cash mode of payment.
5. Information on turnover/gross receipt reported for GST.

What is the structure of the ITR-5 Form?

The Form has been divided into two parts and a number of other schedules:

There are 31 schedules details of which are as under:

Part A: Schedules

Part B:

Part B – TI: Computation of total income

Part B – TTI: Computation of liabilities on total income

Tax payments:
Details of payment of advance-tax and tax on self-assessment tax 2.Details of tax deducted at source on income aside from salary (16A, 16B, 16C) 3.Details of collected at source
Sequence for filling out parts and schedules The tax Department recommends assesses to follow the sequence mentioned below while filling out the tax return.

Part C:


How do I file my ITR-5 Form

This return form has got to be filed online with the tax Department within the following ways:

No annexure required

No document (including TDS certificate) should be attached with this return form while filing ITR-5. All such documents enclosed with this Return Form are going to be detached and returned to the person filing the return. Taxpayers are advised to match the taxes deducted/collected/paid by or on behalf of them with their decrease Statement Form 26AS.

How to fill out the verification document