ITR-5 Return

The taxpayers are supposed to file Income Tax returns based on the income that is earned in the financial year and the kind of entity that it falls under. ITR 5 Form filing is to be done by the Association of Persons, Limited Liability Partnerships, Body of Individuals, Estates of the deceased, Artificial judicial person, business trust, estates of the insolvent, business trust, and investment fund.

This article is a comprehensive guide you can refer to while filing the Income Tax returns in Form 5.

Who is eligible to file ITR 5 Form?

ITR 5 can be filed by the following people :

  • A firm
  • A Limited Liability Partnership
  • Association of Persons
  • Body of Individuals
  • Artificial Judicial Persons that are referred to in Section 2 (31) (vii)
  • The local authority that is referred to in Section 160(1) (ii) or 160 (1) (iv)
  • Cooperative Society
  • Societies that are registered under Societies Registration Act, 1860, or under any state law trust ( except the trusts that are eligible for ITR 7 Form Filing)
  • Estate of the deceased person
  • Business trust referred to in Section 139 (4E)
  • The investment fund referred to in Section 139 (4F)
Who is not eligible to file Form ITR 5?

An individual who has to file income tax returns under the Section 139 (4A) or 139 (4D) cannot file ITR 5 Form.

Instructions to be followed while ITR 5 Form
  • If the schedule is not applicable, Not Applicable has to be mentioned.
  • If the item is inappropriate write “NA” against the item.
  • The “Nil” stands for nil figures which identify the figures of zero value.
  • For a negative figure denote it with “-” before the figure other than what is provided in the Form.
  • All the figures are denoted in a round-off manner to the nearest rupee.
  • Similarly, the figures for the total income and the payable tax should be rounded off to the nearest multiple of ten rupees.
Procedure for filing ITR 5 Form
How to File ITR 5 Form?

The ITR 5 Form can be filed with the Income Tax Department either online or offline.

Offline Filing: The Form can be filed offline by furnishing the return in a paper form or by furnishing the bar-coded return. When the return is filed on paper an acknowledgment slip is paired along with the return form that is to be filed properly.

Online Filing: The ITR 5 Form can be filed online by furnishing the return electronically using the Digital Signature Certificate.


By transmitting the data in the returns electronically followed by the submission of the return verification in the ITR V Form.

While online filing the assessee is needed to print copies of the ITR V Form. One copy of the ITR V must be duly signed by the assessee and needs to be sent to

Post Bag No. 1,

Electronic City Office,


(Karnataka). via ordinary post.

The other copy should be kept by the assessee with himself as a record.

A firm should mandatorily furnish the return electronically under the digital signature of whose accounts are liable to audit under Section 4AB.

Is ITR 5 Form an annexure-less form?

ITR 5 Form is an annexure-less form and it should be attached to the return form while filing ITR 5. All the documents that are enclosed with this Form will be detached and returned to the person that is filing the returns. The taxpayers are advised to match the taxes that are deducted/ collected /paid by or on their behalf with their Tax Credit Statement Form 26AS.

How to fill out the verification document?

Fill up the required information in the verification document.

It is necessary to strike out whatever is not applicable. Please ensure that the verification has been signed before furnishing the return.

Choose the designation or the capacity of the person who is signing the return.

Any person making a false statement in the return or the accompanying schedules will be liable to be prosecuted under Section 277 of the Income Tax Act,1961, and on Conviction, it is punishable under that section with rigorous imprisonment and with a fine.

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