IT Return-5 Filing for
Firms, LLPs, AOPs &BOIs (AY 2025-26)

ITR-5 is the designated income tax return form for firms, LLPs, AOPs, BOIs, estates of deceased or insolvent persons, business trusts, and investment funds. It enables these entities to file their income details, claim deductions, and fulfill compliance with the Income Tax Act for the Assessment Year 2025-26 efficiently and accurately.

Income Tax Return-5

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Application For Income Tax Return

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ITR-3 Amendment Registration

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 Process of ITR-3 Amendment Registration 2025

STEP 1

  • Fill out the online form with your details.
  • Make the required payment to proceed.
  • Get Call for Further Information, Documents & Advice

STEP 2

  • Submit documents and information if requested.
  • Team will review and validate documents and information.

STEP 3

  • Creation of login credential.
  • Respond to any follow-up from the team.

STEP 4

  • Filing of an Application using the Credentials
  • Government Processing Time

STEP 5

  • Resolution of Queries if any, Raised via Authorities
  • Issuance of ITR-3 Registration on email.

Introduction to ITR-5

The ITR-5 Form is a return of income that must be filed by firms, Limited Liability Partnerships (LLPs), Associations of Persons (AOPs), Bodies of Individuals (BOIs), artificial juridical persons, and other entities except individuals, HUFs, companies, and those filing ITR-7. It is specifically designed for entities that are not required to file their return under any other ITR form. ITR-5 is used to report income, claim tax deductions, and disclose other financial particulars as per the Income Tax Act, 1961.

What is ITR-5

What is ITR-5 Form?

The ITR-5 Form is a return of income that must be filed by firms, Limited Liability Partnerships (LLPs), Associations of Persons (AOPs), Bodies of Individuals (BOIs), artificial juridical persons, and other entities except individuals, HUFs, companies, and those filing ITR-7. It is specifically designed for entities that are not required to file their return under any other ITR form. ITR-5 is used to report income, claim tax deductions, and disclose other financial particulars as per the Income Tax Act, 1961.

What is ITR-5 Form?

The ITR-5 Form is a return of income that must be filed by firms, Limited Liability Partnerships (LLPs), Associations of Persons (AOPs), Bodies of Individuals (BOIs), artificial juridical persons, and other entities except individuals, HUFs, companies, and those filing ITR-7. It is specifically designed for entities that are not required to file their return under any other ITR form. ITR-5 is used to report income, claim tax deductions, and disclose other financial particulars as per the Income Tax Act, 1961.

Who Should File ITR-5?

The following entities are eligible and required to file ITR-5

  • ● Firms (registered or unregistered)
  • ● LLPs (Limited Liability Partnerships)
  • ● AOPs (Association of Persons)
  • ● BOIs (Body of Individuals)
  • ● Artificial Juridical Persons
  • ● Local Authorities, if not filing ITR-7
  • ● Estate of deceased or insolvent

These entities must file ITR-5 if their income exceeds the basic exemption limit or if they are liable for audit under Section 44AB of the Income Tax Act.

Who Should File ITR-5

Who Should File ITR-5?

The following entities are eligible and required to file ITR-5

  • ● Firms (registered or unregistered)
  • ● LLPs (Limited Liability Partnerships)
  • ● AOPs (Association of Persons)
  • ● BOIs (Body of Individuals)
  • ● Artificial Juridical Persons
  • ● Local Authorities, if not filing ITR-7
  • ● Estate of deceased or insolvent

These entities must file ITR-5 if their income exceeds the basic exemption limit or if they are liable for audit under Section 44AB of the Income Tax Act.

When is ITR-5 Not Applicable

When is ITR-5 Not Applicable?

ITR-5 should not be filed by

  • ● Individual taxpayers
  • ● Hindu Undivided Families (HUFs)
  • ● Companies (Private or Public) – They should file ITR-6
  • ● Entities claiming exemptions under Section 11 (charitable/religious trusts) – They should file ITR-7
  • ● Political parties, research associations, universities, colleges, and certain institutions governed under ITR-7 guidelines

Additionally, political parties, research associations, universities, colleges, and certain institutions governed under ITR-7 guidelines are also not eligible to file ITR-5.

When is ITR-5 Not Applicable?

ITR-5 should not be filed by

  • ● Individual taxpayers
  • ● Hindu Undivided Families (HUFs)
  • ● Companies (Private or Public) – They should file ITR-6
  • ● Entities claiming exemptions under Section 11 (charitable/religious trusts) – They should file ITR-7
  • ● Political parties, research associations, universities, colleges, and certain institutions governed under ITR-7 guidelines

Additionally, political parties, research associations, universities, colleges, and certain institutions governed under ITR-7 guidelines are also not eligible to file ITR-5.

Eligibility Criteria for Filing ITR-5

Eligibility Criteria for Filing ITR-5 The ITR-5 form is meant for a specific group of taxpayers, primarily entities and bodies that are not covered under individual, HUF, or company-specific ITR forms. Below are the eligibility criteria for filing ITR-5 for Assessment Year 2025–26:

Eligible Entities

The following categories are eligible to file ITR-5:

  • ● Firms – Including both registered and unregistered partnership firms not opting for ITR-4.
  • ● Limited Liability Partnerships (LLPs) – Mandated to file ITR-5 unless specifically covered under ITR-7.
  • ● Association of Persons (AOPs) – Groups of individuals working together for a common purpose.
  • ● Body of Individuals (BOIs) – Individuals voluntarily combining for income-generating activity.
  • ● Artificial Juridical Persons – Entities recognized by law but not as individuals (e.g., deities or trusts not claiming exemption).
  • ● Local Authorities – Not claiming exemption under Section 10(20) or Section 10(20A).
  • ● Estate of Deceased or Insolvent – Where legal representative or administrator files return.
  • ● Business Trusts and Investment Funds – Where not filing ITR-7.

Taxable Income Threshold

Any of the above entities must file ITR-5 if:

  • ● They have taxable income exceeding the basic exemption limit, or
  • ● They are liable for tax audit under Section 44AB of the Income Tax Act.

Other Criteria

  • ● Entities that do not fall under the category of individuals, HUFs (ITR-1 to ITR-4), companies (ITR-6), or those required to file under ITR-7 (e.g., trusts, political parties).
  • ● If an entity earns income from business or profession, capital gains, house property, or other sources, and does not qualify for presumptive taxation under ITR-4.

Filing ITR-5 ensures legal compliance, smooth financial management, and eligibility for tax refunds or deductions under applicable sections.

Documents Required for ITR-5 Filing

Proper documentation is essential for accurate and timely filing of the ITR-5 form. Below is a list of key documents that firms, LLPs, AOPs, BOIs, and other eligible entities should prepare:

1. PAN Card of the Entity

Permanent Account Number (PAN) of the firm/LLP/AOP/BOI is mandatory for identification and tax filing.

2. Partnership Deed or LLP Agreement

Applicable to firms and LLPs for verification of business structure and profit-sharing ratios.

3. Financial Statements

Balance Sheet, Profit and Loss Account, Cash Flow Statement (if applicable). These should be audited where required under the Income Tax Act.

4. Audit Reports (if applicable)

Tax Audit Report under Section 44AB, Transfer Pricing Audit Report under Section 92E, Any other audit report required under applicable laws.

5. Income Details

Details of income from: Business or Profession, House Property, Capital Gains, Other Sources (e.g., interest, dividends).

6. TDS/TCS Certificates

Form 16A or Form 27D for taxes deducted/collected at source.

7. Bank Account Details

Including IFSC code, account number, and bank name for refund processing.

8. Statement of Investments & Deductions

For claiming deductions under Sections 80C to 80U, including: Provident fund, LIC, donations, etc.

9. GST Returns (if applicable)

For reconciliation of turnover declared in ITR and GST filings.

10. Details of Advance Tax & Self-Assessment Tax

Challans and payment proofs for advance tax or self-assessment tax paid during the year.

Step-by-Step Process to File ITR-5

Filing ITR-5 requires careful preparation and accurate data entry. Below is a step-by-step guide for seamless filing of ITR-5 for AY 2025–26:

1

Step 1: Prepare Financial Statements

Compile the audited Balance Sheet, Profit & Loss Account, and Cash Flow Statement (if applicable). Ensure that books of accounts are finalized and reconciled.

2

Step 2: Login to Income Tax Portal

Visit the Income Tax e-Filing Portal and log in using the PAN, password, and Captcha code associated with the entity.

3

Step 3: Select ITR-5 and Fill Required Details

Navigate to the e-file section and choose the ‘Income Tax Return’ option. Select Assessment Year 2025–26, Form ITR-5, and the correct filing type (Original/Revised).

4

Step 4: Declare Income & Claim Deductions

Enter all sources of income, including business/profession, house property, and other sources. Claim allowable deductions under Chapter VI-A and adjust brought forward losses, if any.

5

Step 5: Validate and Review Return

Use the ‘Validate’ button to cross-check entries for errors. Carefully review the entire return to ensure accuracy and completeness before submission.

6

Step 6: Submit and E-Verify

Submit the return online. Complete the process by e-verifying it using options such as Aadhaar OTP, Net Banking, or Digital Signature Certificate (DSC).

Income Sources Covered Under ITR-5

Income from Business or Profession

ITR-5 is primarily designed for firms, LLPs, and other entities engaged in business or professional activities. Income earned through manufacturing, trading, service provision, or consultancy must be disclosed under this head.

Capital Gains, House Property, and Other Sources

Entities must report short-term or long-term capital gains from asset transfers, rental income from house properties, and income like interest, dividends, and winnings under the 'Other Sources' head.

Exempt & Agricultural Income

Exempt income, such as agricultural income, share of profit from partnership firms, or income under section 10 (like interest on tax-free bonds), should be separately disclosed for transparency and record-keeping.

Tax Deductions in ITR-5

Section 80C to 80U

Entities can claim deductions under Chapter VI-A, including Section 80C (LIC, PF, etc.), 80D (medical insurance), and 80G (donations), if eligible, to reduce total taxable income.

deduction illustration

Depreciation & Business Expenses

Claim depreciation on assets and allowable business expenditures such as rent, salaries, office expenses, and interest to accurately compute net profit under the Income Tax Act.

Donations, Loans & Others

Donations made to approved institutions, interest on business loans, and other specific deductions (e.g., Section 80JJAA for new employee hiring) can be availed to reduce tax liability effectively.

Maintenance of Books & Audit Rules

Books of Accounts

Books of Accounts under Section 44AA

Entities filing ITR-5 are required to maintain proper books of accounts as per Section 44AA of the Income Tax Act. This includes cash books, ledgers, journal, bills, and vouchers, depending on the nature and turnover of the business.

Tax Audit Section 44AB

Tax Audit under Section 44AB

If total sales, turnover, or gross receipts exceed ₹1 crore (or ₹10 crore in certain digital transaction cases), a tax audit under Section 44AB becomes mandatory. The audit must be conducted by a Chartered Accountant.

Audit Applicability

Audit Applicability Based on Turnover

Tax audit applicability depends on the threshold turnover limit, type of entity, and nature of business or profession. For LLPs and firms, the audit threshold varies and must be carefully assessed each financial year.

Common Mistakes to Avoid

● Selecting the wrong ITR form (ITR-5 vs. ITR-3 or others).
● Not maintaining proper books as per legal requirements.
● Missing the tax audit deadline when applicable.
● Incorrect or incomplete income and deduction details.
● Failing to e-verify the ITR after submission.

How Udyog Suvidha Kendra Helps You

1

Professional Filing Support

Our experts handle your ITR-5 filing with accuracy and efficiency, ensuring all financial details and disclosures are correctly entered to avoid errors or notices.

2

Compliance & Tax Advisory

We provide ongoing tax compliance guidance tailored to firms, LLPs, AOPs, and BOIs—helping you navigate deductions, audits, and regulatory updates seamlessly.

3

Filing Assistance with Timely Reminders

Never miss a deadline with our automated alerts and timely filing support. We ensure your returns are submitted and verified on time, every time.

ITR-5 Registration FAQs

1. Who should file ITR-5?
ITR-5 should be filed by firms, LLPs, AOPs, BOIs, estates of deceased or insolvent individuals, business trusts, and investment funds that are not required to file returns under ITR-7. Companies and individuals cannot use this form.
Yes, Limited Liability Partnerships (LLPs) must file their income tax returns using ITR-5, unless they are eligible to file under ITR-7 for specific religious or charitable purposes, which is uncommon for most business LLPs.
Audit is required if the turnover of the business exceeds ₹1 crore (or ₹10 crore in case of digital transactions) or if the LLP is required to get its books audited under any other law. Always check Section 44AB compliance.
For audit cases, the deadline is 31st October 2025. For non-audit cases, the due date is 31st July 2025. Filing after these dates may attract penalties and interest under Sections 234F and 234A.
Late filing leads to a penalty of up to ₹5,000 under Section 234F. It also results in loss of interest benefits on refunds and disallows some deductions. If filed after December, the penalty increases further.
No, losses under the head “business or profession” or “capital gains” cannot be carried forward if the return is not filed within the due date. Timely filing is crucial for availing such benefits.
Required documents include audited financial statements, PAN, GST details, TDS certificates (Form 16A), capital gains statements, loan and investment details, bank statements, and proof of deductions claimed under sections like 80C, 80G, etc.
Yes, e-verification is mandatory for return processing. You can e-verify using Aadhaar OTP, net banking, or DSC (Digital Signature Certificate). Without e-verification, your return is considered invalid and will not be processed.
Yes, ITR-5 can be revised before the end of the relevant assessment year or completion of assessment, whichever is earlier. Ensure accurate filing to avoid frequent revisions and scrutiny.
ITR-5 covers income from business or profession, capital gains, house property, other sources like interest, and exempt income such as agricultural income or certain investment-related exemptions.
For LLPs and firms subject to audit, filing must be done using a Digital Signature Certificate (DSC). For others, it can be verified via Aadhaar OTP or net banking, depending on the entity type and income level.
Depreciation can be claimed under the Income Tax Act as per rates specified in Appendix I and II. Ensure you attach the depreciation schedule and supporting records when filing through ITR-5.
Yes, eligible deductions under sections 80C to 80U can be claimed in ITR-5, depending on the nature of the business and the entity structure. Ensure accurate recordkeeping and investment proofs are maintained.
No, trusts, NGOs, and institutions claiming exemptions under Sections 11 and 12 must file ITR-7, not ITR-5. ITR-5 is for business-oriented entities like LLPs, firms, AOPs, and BOIs.
We provide expert-led filing, ensure compliance with latest tax laws, help with document preparation, and offer timely reminders. Our platform ensures error-free and hassle-free ITR-5 submission with full legal support.