ITR-5 Return Filing
Documents Required
Monthly Purchase Bill
Monthly Sales Bill
.
Sales Return Details
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Income Tax
ITR-3 Return Filing
Welcome to ASK Associates, your trusted partner for seamless and efficient Income Tax Return (ITR) filing services in India. We specialize in providing expert assistance for various ITR forms, including the ITR-5 form. Whether you’re a firm, Association of Persons (AOP), Body of Individuals (BOI), or any other eligible entity, our team is dedicated to ensuring a hassle-free and accurate filing process tailored to your specific needs.
What is the ITR-5 Form? The ITR-5 Form, mandated by the Income Tax Department of India, is designed for entities such as firms, Association of Persons (AOP), Body of Individuals (BOI), and others who are not classified as companies but are required to file their income tax returns. It serves as a comprehensive document for reporting income, deductions, and tax liabilities to the Indian Income Tax Department.
Eligibility for ITR-5 Filing: Entities eligible to file the ITR-5 form include:
- Firms
- Limited Liability Partnerships (LLPs)
- Association of Persons (AOP)
- Body of Individuals (BOI)
- Estate of deceased individuals
- Artificial Juridical Persons
- Business trusts and investment funds
- Estate of insolvent individuals
- Cooperative societies
- Local authorities
However, it’s important to note that individuals or entities required to file their returns under specific sections such as 139(4A), 139(4B), 139(4C), 139(4D), 139(4E), or 139(4F) should not use the ITR-5 form.
Due Dates for Filing ITR-5: The due date for filing ITR-5 varies based on factors such as the requirement for audit under the Income-Tax Act and furnishing reports in Form No. 3CEB. Here are the key due dates:
- Accounts to be audited: October 31 of the assessment year.
- Report in Form No. 3CEB to be furnished: November 30 of the assessment year.
- Accounts not requiring audit: July 31 of the assessment year.
Entities Not Eligible for ITR-5 Filing: The following entities should not file the ITR-5 form:
- Individual assesses
- Hindu Undivided Families (HUFs)
- Companies
- Taxpayers required to file Form ITR-7 under specific sections
Committed Team, Comprehensive Business Services
Committed Team, Comprehensive Business Services
Documents Required
- Rental Agreement, if any
- Proof of Rental Income if any
- Form 26AS
- Monthly Purchase Bill
- Monthly Sales Bill
- Sales Return Details
- Purchase Return Details
- Tax Paid Challans for GST
- Break-up of statement from Bank used for business transactions
- Statement from Bank used for business transactions
- Day to day Administration expenses and General expenses details
- Fixed Assets Invoice Copy
- Investment details made by Cash
- Investment details made through Bank
- Proof of Source of Cash In-flow and Cash Out-flow
- Break-up of Bank Statement
- Loan Details from bank
- Outstanding receivables and payables
- Company’s Pan and two DSCs
- Details of Bank used for business transactions (Acct No, IFSC Code)
