ITR 5(PARTNERSHIP&LLP)

Every Indian citizen. However, to file ITR it is essential to know which ITR form should a person file as per his/her profession and income. In this way ITR 5 form is one of those forms of tax return that is to be used by some particular people or parties. Filing the Income Tax Return (ITR) is not only compulsory but is a responsibility of 

This ITR is meant for Association of Persons (AOPs), LLPs, firms, Body of Individuals (BOIs), Estate of deceased, Artificial Juridical Person (AJP), Business Trust, Estate of Insolvent, and Investment Fund.

Who can file the ITR 5 form

ITR Form 5 is a form filed as income tax return by following entities:

• Firms
• Association of persons (AOPs)
• Body of Individuals (BOIs)
• Artificial Juridical Person (AJP)
• Estate of deceased
• Estate of insolvent
• Business trust and investment fund
• LLPs (Limited Liability Partnerships)
• Cooperative societies
• Local authority

ITR- 5 Form is not filed by an individual, company, HUFs and those who file an income tax return in new ITR Form 7. Any person who files a return of income tax under section 139(4A) or 139(4B) or 139(4C) or 139(4D) cannot use this form.