Client Filing India Logo
Income Tax Return-5

Income Tax Return-5

 

ITR 5

Required timing - 2-7 days

CA assisted  filing for all your  needs

Completely online – no need to visit office

 

WHY CHOOSE CLIENT FILING INDIA?

  • Lowest Price and best service Guarantee.
  • No Hidden Cost .
  • India's most trusted compliance worthy portal

 

What is ITR 5?

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

How do I file my ITR-5 Form?

This return form has to be filed online with the Income Tax Department in the following ways:

  • by furnishing the return electronically under digital signature
  • by transmitting the data in the return electronically and thereafter submitting the verification of the return in Return Form ITR-V

When the return is filed online, the assessee should print out two copies of ITR-V Form. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to Post Bag No. 1, Electronic City Office, Bengaluru–560500 (Karnataka).
The other copy may be retained by the assessee for his record. A firm whose accounts are liable to audit under section 44AB must compulsorily furnish the return electronically under digital signature.

What is the Structure of ITR Form 5?

While knowing the meaning of ITR 5 in detail, you must know that ITR 5 form is divided into two parts and 31 schedules, as defined below:

Part A – General Information About the Taxpayer

1. Part A – BS: This part of ITR 5 form covers the balance sheet of the taxpayer as on March 31 of the financial year 2021-22

2. Part A – P&L: It defines the profit and loss statement for the tax Assessee for the last fiscal year

3. Part A – QD: This section of ITR 5 form contains quantitative details about stock held or turnover details for the financial year 2021-22

4. Part A: Manufacturing account for the fiscal year 2021-22

5. Part A: Trading account for the financial year 2021-22

6. Part A – OI: This subpart of ITR 5 form includes other information related to the taxpayer

Part B

1. Part B – TI: This section of ITR 5 form includes the details of total income calculations

2. Part B – TTI: It contains details of tax calculated on the total income chargeable for tax

Schedules of ITR 5 Form

You can file ITR 5 form online with the Income Tax department in any of these two ways:

Here are some of the most critical schedules of ITR 5 form:

1)Schedule HP: This schedule of the ITR 5 form includes the computation of income from house property 

2) Schedule BP: This schedule covers the computation of income from profits and gains from business or profession

3) Schedule DOA: Under this schedule of ITR 5 form, comes the information on the depreciation of ‘other assets’ as defined under the Income Tax Act. The assets under this schedule of ITR 5 means the ones on which total capital expense exemption is no allowed

4) Schedule DCG: This schedule covers details of deemed capital gains when the depreciable assets are sold

5) Schedule CG: In this schedule, there are details of both short-term and long-term capital gains

6) Schedule DPM: This schedule of ITR 5 form covers the information about the depreciation on plant and machinery as covered under the Income Tax Act

7) Schedule CYLA: It covers the details of the income statement after setting off the losses of the current year

8) Schedule BFLA: This ITR 5 form schedule talks about the statement of income after setting off unabsorbed losses brought forward from the previous years

9) Schedule CFL: In this schedule of ITR 5 form, you get the details of the statement of losses to be carried forward to the financial years ahead

10) Schedule ICDS: This schedule gives information about the impact of income calculation disclosure standard on the earned profits

11) Schedule AMT: Under this schedule of ITR 5 form, comes the computation details of alternate minimum tax to be paid under Section 115JC.

Our best plans

Avatar-10

Offer valid up to 30.09.2022

All inclusive

Basic

Income tax return filing for a taxpayer with taxable income of less than Rs.10 lakhs.

Apply now
card

Rs.

3000

1970

Avatar-10

Offer valid up to 30.09.2022

All inclusive

Standard

Income tax return filing for a taxpayer with taxable income of  Rs.10-25  lakhs.

Apply now
card

Rs.

5500

2950

Avatar-10

Offer valid up to 30.09.2022

All inclusive

Premium

Income tax return filing for a taxpayer with taxable income of more than Rs.25 lakhs

Apply now
card

Rs.

7000

4130

Frequently asked questions

Can I file ITR 5 form Offline?

What is the due date to file ITR 5 form?

What will happen if I make any mistake while filing ITR 5 form?

Who can not file ITR Form 5?

Who needs to furnish ITR Form 5?

Head office

Kolkata, West Bengal

36/A Kadapara, Kankurgachi, Kolkata-700054

Andhra Pradesh Branch

Andhra Pradesh

9th Phase, Rama Nilayam Road, Andhrapradesh-500072

Gangtok Branch

Gangtok

Below Supermarket (turning) M.G. Road , Gangtok, East Sikkim-737101.

Siliguri Branch

Siliguri

Ward 8 , Khalpara , Siliguri - 734005

Website Policies

Terms and Conditions

Refund Policy


Copyright @ 2020 cilentfilingindia | All right reserved