Who can use ITR 5 for online return filing?

ITR 5Income tax return is required to be filed by Firms, AOPs and companies too.  Income Tax Department has notified separate Income Tax Return (ITR) Forms for Firms, Companies etc. to filing return. All the details are required to be filled in this ITR Forms. Taxmantra has summarized here the details regarding ITR 5 Form used by the assessee.

Who can use ITR 5 ?

The form can be used by a person being a –

  • Firm
  • AOPs (Association of persons),
  • BOIs (Body of individuals)
  • Any other person

Who cannot use ITR 5 ?

The form should not be used by a person being an-

  • Individual
  • HUFs
  • Company
  • And to those persons to whom ITR-7 is being applicable.

Other Relevant Points:

  • No documents are required to be attached to any ITR Forms.
  • ITR 5 form can be submitted (at the assessee’s option) either in paper format or electronic format (with or without digital signature).
  • But, in case audit is applicable under section 44AB to the assessee then online return filing with digital signature is compulsory required.

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