ITR-5 Filing for AY 2025-26: Complete Guide for LLPs, Partnership Firms & AOPs  

Income Tax Returns filing is a mandatory responsibility for every taxpayer in India, and choosing the appropriate ITR form based on the source of income is crucial for compliance. The ITR-5 Form is specifically designed for a certain class of taxpayers, including Firms, LLPs (Limited Liability Partnerships), AOPs (Association of Persons), and BOIs (Bodies of Individuals). Issued by the Income Tax Department of India, ITR 5 form enables such entities to furnish their income and tax details accurately. Understanding the ITR-5 filing process helps streamline tax return submissions, avoid penalties, and ensure smooth compliance with legal requirements. In this article, we are providing detailed information on ITR-5 filing.

Streamline your ITR-5 return filing with IndiaFilings expert guidance!

Get Started!

What is ITR-5?

ITR-5 is an Income Tax Return form in India designed for entities other than individual taxpayers. This includes partnership firms, Limited Liability Partnerships (LLPs), Associations of Persons (AOPs), Bodies of Individuals (BOIs), estates of deceased or insolvent individuals, business trusts, investment funds, artificial juridical persons, and cooperative societies. Compared to other ITR forms, it caters to a wider range of entities and requires detailed financial information for accurate tax assessment.

ITR-5 for whom: Who is Eligible to file ITR-5?

ITR 5 is an income tax return form in India specifically designed for a variety of entities, not individual taxpayers. Here’s a breakdown of ITR-5 for whom:

• The person being a firm
• Limited Liability Partnership (LLP)
• Association of Persons (AOP)
• Body of Individuals (BOI)
• Artificial Juridical Person (AJP) referred to in clause (vii) of section 2(31) of the Income-tax Act
• The local authority referred to in clause (vi) of section 2(31) of the Income-tax Act
• Representative assessee referred to in section 160(1)(iii) or (iv) of Income-tax Act
• Cooperative society Society registered under Societies Registration Act, 1860 or under any other law of any State Trust other than trusts eligible to file Form ITR-7
• Estate of a deceased person Estate of an insolvent Business trust referred to in section 139(4E) of the Income-tax Act
• Investments fund referred to in section 139(4F) of Income-tax Act

Who is Not Eligible to File Your ITR-5

Below, we have listed the entities not eligible to file ITR-5:

• Individual assessee: Individuals must file returns using other applicable ITR forms such as ITR-1 to ITR-4.
• Hindu Undivided Family (HUF): HUFs are required to use ITR-2 or ITR-3, depending on their income sources.
• Companies: All companies must file their returns using the ITR-6 or ITR-7 form, not ITR-5.
• Taxpayers required to file under Sections 139(4A), 139(4B), 139(4C), 139(4D), 139(4E), or 139(4F): These include trusts, political parties, institutions, and investment funds that must use ITR-7.

How to File your ITR-5 for AY 2025-26

Below, we have explored the structure of the ITR-5 form and a brief procedure for ITR-5 filing online,

1. Visit the Income Tax Department’s e-filing portal: Go to Income Tax Department e-filing website.
2. Login/Register: If you’re a new user, register using your PAN details. Existing users can log in with their credentials.
3. Select ITR Form: On the dashboard, choose “Income Tax Return” and select “ITR-5” for the relevant Assessment Year (AY).
4. Data Filling: The ITR-5 form consists of various sections. Carefully fill in the details for each section, including:
• Part A: General Information: Enter basic details like PAN, assessment type, address, etc.
• Schedules: Fill in separate schedules for income details (capital gains, business income, etc.), deductions claimed, tax calculations, and more. Refer to the ITR-5 instructions for details on each schedule.
• Part B: Tax Computation: The system will auto-calculate your tax liability based on the information entered in the schedules.
5. Verification: After filling all sections, you have two options for verification:
• Digital Signature: This is the quickest method if you have a valid digital signature certificate.
• Physical Verification (ITR-V): If you don’t have a digital signature, choose this option. The system will generate an ITR-V form after submitting the return data.
6. ITR-V Verification (if chosen):
• Print two copies of the ITR-V form.
• Sign one copy and mail it to the address mentioned on the form (Centralized Processing Centre, Bengaluru).
• Keep the other copy for your records.

How to Fill ITR 5 Form?

The applicant is required to furnish the following details in the income tax return form-5 (ITR-5):

• Part A: General Information
• Audit Information
• Nature of Business
• Details of the Balance Sheet
• Manufacturing Account Details
• Trading Account Details
• Details of the profit and loss account
• Details of income from the business activity on a presumptive basis as per section 44AD
• Details income from any professional activity on a presumptive basis as per section 44ADA
• Details of income from the business of plying, hiring, or leasing of goods carriages on a presumptive basis as per section 44AE.
• Quantitative details of books of accounts in respect of the business or profession
• Details of speculative activity
• Details of allowances & disallowances under Income Tax Act
• Quantitative details of trading and manufacturing account
• Details of Income from House Property
• Computation of income from business or profession
• Computation of depreciation admissible under the Income-tax Act
• Computation of depreciation admissible under the Income-tax Act
• Summary of depreciation admissible under the Income-tax Act
• Summary of deemed short-term capital gains on the sale of depreciable assets
• Details of expenditure on scientific research etc. referred to in section 35, expenditure on agricultural extension project referred to in section 35CCC and expenditure on skilled development project referred to in section 35CCD
• Capital gains arising from sale/transfer of different types of capital assets
• The scrip wise/unit wise detail of the sale of equity shares of a company, an equity-oriented fund, or a unit of a business trust on which STT is paid under section 112A
•  Income from other sources
• Details of Income after set-off of current year losses
• Details of Income after Set off of Brought Forward Losses of earlier years
• Details of Losses to be carried forward to future years
• Unabsorbed depreciation and allowance under section 35(4) of Income-tax Act
• Effect of Income Computation Disclosure Standards on profit
• Deduction in respect of units located in Special Economic Zone
• Details of donations entitled for deduction under section 80G of Income-tax Act
• Details of donations for scientific research or rural development
• Details of donations to research associations etc. [deduction under sections 35(1)(ii) or 35(1)(iia) or 35(1)(iii) or 35(2AA)]
• Details of deduction under the sections 80-IA/ 80-IB/ 80-IC and 80-IE of Income-tax Act
• Deductions under section 80P of Income-tax Act
• Details of deduction claimed under various provisions of Chapter VI-A during the year
• Computation of Alternate Minimum Tax payable under section 115JC of Income-tax Act
• Computation of tax credit under section 115JD of Income-tax Act
• Income chargeable to tax at special rates
•  Information regarding partnership firms in which the applicant is a partner
• Income details from business trust or investment fund as per section 115UA, 115UB of the income tax act
• Details of tax on secondary adjustment as per section 92CE (2A) of the Income-tax act
• Details of Exempt Income (Income not to be included in Total Income or not chargeable to tax)
• Details of Income from outside India and tax relief
• Summary of tax relief claimed for taxes paid outside India
• Details of Foreign Assets and Income from any source outside India
• Information regarding turnover/gross receipt reported for GST
• Details of Investments
• Details of payments of Advance Tax and Self-Assessment Tax
• Details of Tax Deducted at Source of income
• Details of Tax Collected at Source (TCS)
• Quantitative details of trading and manufacturing account

Note: The ITR 5 online form should reach within 120 days from the date of e-filing the return

Sample ITR 5 Online Form

Here is the sample ITR-5 filing online form for your reference, 

The confirmation of the receipt of ITR V (Income Tax Return Verification Form) at Centralized Processing Centre will be sent to the taxpayer through mail ID registered in the e-filing portal.

Due Dates: When to File ITR-3?

The due date for filing the ITR-3 Form varies depending on whether the taxpayer’s accounts need to be audited. Here are the key deadlines for ITR-3 filing:

• 31st October of the assessment year – If the taxpayer’s accounts are required to be audited under the Income Tax Act.
• 30th November of the assessment year – If the taxpayer is required to submit a report in Form 3CEB (for international or specified domestic transactions).
• 31st July of the assessment year – In all other cases where accounts do not require auditing.  

Also read: Penalty for Late Filing of ITR

Verification of Return for Audit

If the accounts are required to be audited under Section 44AB of the Income Tax Act, it is mandatory to verify the return electronically under a digital signature.

If a taxpayer is required to furnish a report of audit under sections 10AA, 44AB, 44DA, 50B, 80-IA, 80-IB, 80-IC, 80-ID, 80JJAA, 80LA(1), 80LA(1A) 92E, 115JB or 115JC of the Income-tax Act, he/she need to file the report electronically on or before the date of filing the return of income.

Filling out the ITR V- Income Tax Return Verification Form

After filing the ITR 5 form, the taxpayer needs to print out the Form ITRV- Income Tax Return and send it to the Processing Centre, Income Tax Department, Bengaluru- 560500 (Karnataka) by ordinary post or speed post.

Effortlessly file your ITR-5 with IndiaFilings

Struggling with the complexities of ITR-5 filing and compliance requirements? IndiaFilings offers a seamless and professional solution tailored for firms, LLPs, AOPs, and BOIs. Our expert team ensures accurate preparation, proper documentation, and timely submission of your ITR-5, helping you stay fully compliant with the Income Tax Department’s guidelines. IndiaFilings simplifies your tax filing process with efficiency, reliability, and ease of mind.

Get Expert Help!

Other ITR-related articles

• ITR-1 return filing
• ITR-2 return filing
• ITR-3 return filing
• ITR-4 return filing
• ITR-6 return filing
• ITR-7 return filing

FAQs on ITR-5 Filing

1. Who will file ITR 5?

ITR-5 is filed by firms, Limited Liability Partnerships (LLPs), Associations of Persons (AOPs), Bodies of Individuals (BOIs), Artificial Juridical Persons (AJP), estates of deceased individuals, estates of insolvent persons, business trusts, and investment funds.

2. What is the income tax return Form 5?

ITR-5 is an income tax form designed for specific entities like firms, LLPs, AOPs, BOIs, AJPs, and trusts (excluding those eligible for ITR-7) to report their income and tax liabilities.

3. Who is eligible to file ITR 5?

Eligible entities include firms, LLPs, AOPs, BOIs, AJPs, local authorities, cooperative societies, societies registered under the Societies Registration Act, 1860, trusts (excluding those filing ITR-7), estates of deceased or insolvent individuals, business trusts, and investment funds.

4. Is ITR-5 mandatory?

Yes, ITR-5 is mandatory for entities that fall under its eligibility criteria. Failure to file may result in penalties.

5. Is ITR 5 available for e-filing?

Yes, ITR-5 is available for e-filing through the Income Tax Department's portal.

6. What documents are required for ITR 5?

The ITR-5 form requires general information, balance sheet details, manufacturing and trading account details, profit and loss account information, and computation of total income and tax liability. No additional documents need to be attached.

7. How do I choose my ITR 5?

Choose ITR-5 if your entity type matches the eligibility criteria, such as firms, LLPs, AOPs, etc. Ensure you are not required to file under other sections like ITR-7.

8. How do I verify my ITR 5?

Verification of ITR-5 can be done through an Electronic Verification Code (EVC) or by sending a signed copy of the ITR-V to the Income Tax Department.

9. What is the last date for ITR 5?

The last date for filing ITR-5 typically aligns with the general deadline for income tax returns, which is usually September 30th for entities requiring audit and October 31st for others. However, check the Income Tax Department's website for the exact date each year.

10. What is the penalty for filing income tax wrong?

The penalty for incorrect or late filing can be up to Rs. 10,000 under Section 234F, depending on the timing and income level.

11. How much income is tax-free?

The tax-free income threshold varies based on the entity type and individual income tax slabs. Generally, for entities filing ITR-5, there is no specific "tax-free" income as it applies to business income.

12. What is the tax rate for ITR 5?

The tax rate for entities filing ITR-5 depends on the type of entity and the applicable tax laws. For example, firms and LLPs are taxed at the applicable corporate tax rates.

13. Can I file ITR 5 without DSC?

While a Digital Signature Certificate (DSC) is recommended for e-filing, it is not strictly necessary for all types of verification. However, using a DSC simplifies the process.

14. How do I upload to ITR 5?

To upload ITR-5, log into the Income Tax Department's e-filing portal, select the ITR-5 form, fill in the required details, and submit it online.

15. How to open ITR 5?

To open ITR-5, visit the Income Tax Department's e-filing portal, log in with your credentials, and select the ITR-5 form from the available options to begin filling it out

About the Author