ITR-5 is a critical income tax return form applicable to LLPs, partnerships, AOPs, BOIs, and certain other entities not filing ITR-7. Filing accurately ensures tax compliance and avoids penalties.
1️⃣ 📘 Introduction – What is ITR-5?
ITR-5 Form is used by various business entities to file income tax returns excluding individuals, companies, or entities covered under ITR-7.
🎯 Entities include:
- LLPs (Limited Liability Partnerships)
- Partnership Firms
- Associations of Persons (AOP)
- Body of Individuals (BOI)
- Artificial Juridical Persons
🌐 Official Website for Filing: https://www.incometax.gov.in
2️⃣ 🏷️ Types of Entities That Use ITR-5
🔖 Not exactly “licenses,” but this form applies to:
- LLPs & Partnerships
- AOPs / BOIs
- Estate of deceased / insolvent persons
- Artificial juridical persons
- Investment funds under section 115UB
⚠️ Companies must file using ITR-6; ITR-5 is NOT for them.
3️⃣ 👥 Who Needs These Services?
You need to file ITR-5 if you’re:
- A registered LLP or firm earning income during FY
- An unregistered firm with profits to report
- An AOP/BOI engaged in trade, business, or investments
- A firm liable for audit under section 44AB
🧠 Keyword suggestion: itr 5 filing for llp in india 2025
4️⃣ 🧑💼 Why Choose a Filing Service Provider?
Hiring a tax professional helps:
- Avoid technical errors and rejections
- Properly compute business income & tax liability
- Handle DSC signing, e-verification, and audit reports
- Timely compliance and reduction in penalty risks
✅ Expert handling means fewer ITD notices and better peace of mind.
5️⃣ 📝 ITR-5 Filing Process – Step-by-Step
🪜 Steps to file ITR-5 online in 2025:
- Visit https://www.incometax.gov.in
- Login with PAN (firm/entity) credentials
- Go to e-File → Income Tax Return
- Choose AY 2024–25 and ITR-5
- Fill sections: General Info, P&L, Balance Sheet, TDS, etc.
- Upload required audit reports if applicable (Form 3CA/3CB/3CD)
- Sign and submit via Digital Signature Certificate (DSC)
- e-Verify the return post-submission
💡 Tip: Use offline utility for complex filings involving audit, depreciation, or multi-source income.
6️⃣ 📂 Documents Required
🗂️ Commonly needed:
- PAN & Aadhaar of partners
- Partnership deed / LLP agreement
- Financials: P&L, Balance Sheet
- Bank account statements
- TDS details (Form 26AS)
- Audit report (if applicable)
- Digital Signature Certificate (DSC)
7️⃣ 💰 Cost Involved
| Service Type | Price (INR) |
| Basic Filing (non-audit) | ₹1,500 – ₹3,500 |
| Filing with Audit Support | ₹4,500 – ₹10,000 |
| LLPs with turnover >₹1Cr | ₹10,000+ |
Prices may vary based on complexity and CA services.
8️⃣ ⏱️ Time Taken
🕐 Typical timeline:
- Non-Audit Filings: 1–2 working days
- Audit Cases: 3–5 working days
- Post-submission processing: 7–15 days by ITD
🧾 E-verification is mandatory to complete the return filing process.
9️⃣ ❌ Common Mistakes to Avoid
🚫 Errors that could invite scrutiny:
- Incorrect AY selection (e.g. AY 2023-24 instead of 2024-25)
- Using ITR-6/ITR-3 wrongly instead of ITR-5
- Non-reporting of foreign income or investments
- Failure to file audit reports on time
- Not linking DSC before submission
✅ Double-check all values before final submission.
🔟 📣 Call-to-Action (CTA)
Need professional help for ITR-5 Filing?
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📲 WhatsApp: +91 7588756518
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🎯 We assist LLPs, partnerships, and AOPs all over India!
1️⃣1️⃣ 📚 FAQs
Q1. Is audit mandatory for all ITR-5 filings?
👉 Only if turnover exceeds ₹1 Cr (business) or ₹50L (profession).
Q2. Can ITR-5 be filed without DSC?
👉 No, for firms/LLPs it’s mandatory to use DSC.
Q3. Is ITR-5 applicable to companies?
👉 No, companies must file ITR-6.
Q4. What if I miss the filing deadline?
👉 You can file a belated return with late fees under Section 234F.
