Income Tax Return (ITR) 5 Form In Nagpur

All the taxpayers in Nagpur are supposed to make their Income tax return filing in Nagpur based on the income they are earning in a given financial year and the kind of entity they are falling under. ITR 5 return filing in Nagpur can be filed by a Firm, A Limited liability Partnerships, Association of Person, Body of Individuals, the artificial juridical person who is referred in the sections 2(31)(vii), estates of deceased, the estate of insolvent, business trust and investment fund, cooperative societies, and the local authorities.

eFiling Audit Reports

It is mandatory for the assesse to furnish the audit report under sections 10 23C(v), 10 (23C) (vi), 10 (23C) (via), 10A,10AA., 12A(1) (b),44AB, 44DA, 50 B, 80 IA, 80 IB, 80 IC, 80 ID, 80 JJAA, 80 LA, 92 E , 115 JB, 115 VW since the AY 2013 - 2014. It should be done electronically or before the date of filing income tax returns.

The due date for Filing ITR 5 return filing in Nagpur for FY 2020 - 2021.

FY 2020 - 2021 ( AY 2021 - 2022): 31st July 2021 for the cases where audit is not required and 31st October 2021 for the cases where audit is required.

Amendments made for filing ITR 5 Filing in Nagpur for the FY 2020 - 2021

• Details of recognition as a Start-up by DPIIT
• Details of the declaration filed in Form 2
• Information about the partnership firms where an individual is a partner
• Bifurcation of the donation into cash and non-cash mode of payment
• Information of the turnover and the gross receipts that are reported for GST

ITR 5 Filing in Nagpur is annexure less there is no need to attach any documents not even the TDS certificate. If in case there are documents attached they will be detached and returned to the person filing the return.

Is a balance sheet required for ITR 5 Filing in Nagpur?

The reported figures of the balance sheet need to match with the audited balance sheet in case the account is to be audited. Any other activity that is not being audited in the books of account need not be included in the balance sheet.

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