ITR 5 Form

ITR-5 is an income tax return form for eligible taxpayers such as firms, LLPs, AOPs, BOIs, cooperative societies, and certain other entities. Individuals, HUFs, companies, and persons required to file ITR-7 cannot use this form.

• ITR-5 is filed electronically through the Income Tax Department’s e-Filing portal.
• E-verification or submission of ITR-V must generally be completed within 30 days of filing.
• The late-filing fee can be ₹1,000 where total income does not exceed ₹5 lakh and ₹5,000 in other applicable cases.
• For AY 2026-27, the applicable due date is generally 31 October 2026 for audit cases.
• For specified transfer-pricing cases, the applicable due date is generally 30 November 2026.
• ITR-5 covers income, deductions, taxes paid, financial details, and the final tax liability.
   

ITR-5 is the income tax return form used by eligible entities such as firms, LLPs, AOPs, BOIs, estates, business trusts, cooperative societies, and certain other persons who are not required to file ITR-7.
The form is used to report income, deductions, taxes paid, and tax liability for the relevant financial year.
It also captures financial information such as balance sheet details, profit and loss information, and income under different heads. Different schedules are provided so that taxpayers can report information relevant to their circumstances.
 

ITR-5 can be filed by several categories of taxpayers other than individuals, HUFs, companies, and persons required to file ITR-7.
Eligible persons may include:

• Partnership firms
• Limited Liability Partnerships (LLPs)
• Associations of Persons (AOPs)
• Bodies of Individuals (BOIs)
• Estates of deceased persons
• Estates of insolvent persons
• Business trusts
• Investment funds
• Cooperative societies
• Societies
• Certain trusts
• Artificial juridical persons

These entities can use ITR-5 to report applicable income from sources such as business or profession, house property, capital gains, and other sources.
However, taxpayers who are required to file ITR-7 cannot use ITR-5.
 

The ITR-5 form for Assessment Year 2025-26 was updated to reflect the tax and reporting requirements applicable for that assessment year.
The form continued to collect detailed information relating to income, deductions, capital gains, financial statements, taxes paid, and other applicable disclosures.
The Income Tax Department also issued updated utilities, schemas, and validation rules for ITR-5 during the AY 2025-26 filing cycle. Taxpayers therefore had to use the form and utility applicable specifically to that assessment year.
 

The ITR-5 form contains several parts and schedules for reporting tax and financial information.
Basic details include information such as PAN, filing section, return status, nature of business, audit applicability, business address, and whether the return is original or revised.
Part A mainly covers general and financial information, including details from the balance sheet and profit and loss account. Part B deals with the computation of total income and tax liability.
The form also contains schedules for information such as:

• Income from different sources
• Capital gains
• Depreciation
• Deductions
• Taxes paid
• Carried-forward losses
• Audit-related information
• Other disclosures required under applicable tax provisions

You need to complete the parts and schedules that apply to your entity and its income.
 

ITR-5 is filed electronically through the Income Tax Department’s official e-Filing portal.
The basic process is:

1. Prepare the ITR-5 using the applicable utility or permitted filing method.
2. Enter the required income, financial, tax, and other information.
3. Complete the schedules that apply to the entity.
4. Validate the return and check the information for errors.
5. Submit the completed return electronically.
6. Verify the return using an eligible electronic verification method or ITR-V, as applicable.

Electronic verification may be completed using an applicable method such as EVC or Digital Signature Certificate (DSC).
Verification period: 30 days from the date of filing the return.
 

If you use physical ITR-V for verification, the duly signed form must be sent to:
Centralised Processing Centre
Income Tax Department
Bengaluru – 560500, Karnataka
 

ITR-5 is an annexure-less return. Therefore, supporting documents such as financial statements are not attached to the ITR itself.
Where an audit report or another prescribed form is separately required under the Income Tax Act, it must be filed according to the applicable requirements.
Firms whose accounts are required to be audited under section 44AB should also follow the applicable electronic filing and verification requirements.
 

The due date for ITR-5 depends on the type of taxpayer and whether an audit or specified transfer-pricing requirements apply

.

For AY 2026-27:

The applicable deadline should be checked for the relevant assessment year because filing dates may change or be extended.

If you file after the applicable deadline, a late-filing fee may apply under section 234F.

Late filing may also affect your ability to carry forward certain losses, depending on the type of loss and the applicable tax provisions.

ITR-5 cannot be filed by:

• Individuals
• Hindu Undivided Families (HUFs)
• Companies
• Persons who are required to file ITR-7

For example, if you are an individual earning salary, pension, house property income, or capital gains in your personal capacity, you must use the ITR form applicable to your circumstances instead of ITR-5.
Similarly, a person who falls within the filing requirements of ITR-7 must use ITR-7 rather than ITR-5.
Choosing the applicable ITR form is important because filing a return using an inapplicable form may result in the return being treated as defective.
 

The verification section confirms that the information provided in the return is true and complete.
The return must be verified by the person authorised to verify it on behalf of the entity. The required information may include the name, designation, and PAN of the person verifying the return, as applicable.
You can verify the return through an eligible electronic verification method. Depending on the applicable requirements, this may include an Electronic Verification Code (EVC) or Digital Signature Certificate (DSC).
If ITR-V is used, the signed form must reach the Centralised Processing Centre in Bengaluru within the prescribed 30-day verification period.
If the return is not verified within the applicable period, it may be treated as invalid.
 

For Assessment Year 2023-24, ITR-5 was updated to reflect the tax and disclosure requirements applicable for that year.
One important feature was Schedule VDA, which was used to report income from the transfer of virtual digital assets. The schedule required details such as the date of acquisition, date of transfer, cost of acquisition, consideration received, and whether the income was taxable as business income or capital gains.
The form also continued to include detailed schedules covering areas such as capital gains, tax credits, pass-through income, deductions, losses, and other applicable disclosures.
 

For AY 2022-23 and AY 2021-22, ITR-5 was revised in line with changes in tax provisions and reporting requirements applicable during those years.
For AY 2021-22, changes included additional reporting for dividend income. The form provided for a quarter-wise break-up of certain dividend income taxable at DTAA rates and changes relating to brought-forward losses.
The form also included reporting connected with section 115BAD for eligible cooperative societies.
For AY 2022-23, the ITR-5 form and its filing utilities were further updated in line with the provisions and validation requirements applicable for that assessment year.
 

The ITR-5 form for AY 2020-21 included detailed reporting requirements for certain investments, gains, adjustments, and deductions.
Important reporting requirements included:

1. Unlisted equity shares: Taxpayers holding applicable unlisted equity shares had to provide information such as the company name, PAN, opening balance, shares acquired or transferred during the year, and closing balance.
2. Schedule 112A: The form included Schedule 112A for reporting applicable long-term capital gains from specified equity shares or units where the relevant conditions were met.
3. Transfer-pricing adjustments: Applicable information relating to secondary adjustments under section 92CE had to be reported.
4. Specified investments and payments: Eligible investments or payments made between 1 April 2020 and 30 June 2020 could be reported in accordance with the special extension provided for certain deductions.

These requirements allowed the form to capture more detailed financial and tax information for the assessment year.
 

For AY 2019-20, ITR-5 included additional disclosures relating to financial and tax information.
Taxpayers had to provide applicable details relating to areas such as GST-linked turnover, investments in unlisted equity shares, and audit information.
These disclosures allowed information reported in the income tax return to be compared more easily with information available through other tax and regulatory filings.
The form therefore required eligible entities to provide more detailed information about their financial activities and applicable compliance requirements.
 

ITR-5 is used by eligible entities such as firms, LLPs, AOPs, BOIs, cooperative societies, and certain other taxpayers to report their income and tax details. Individuals, HUFs, companies, and persons required to file ITR-7 cannot use it.
The form covers income, deductions, financial information, taxes paid, and tax liability. Since filing requirements, forms, utilities, and deadlines can change between assessment years, you should use the ITR-5 form applicable to the relevant year and complete the required verification within the prescribed timeline.