ITR-5
ITR-5
(Partnership firm, Association of Persons, Body of Individuals, Societies)
ITR-5 is an income tax return form filed by entities other than individuals, HUFs, companies, and those filing ITR-7. It applies to partnership firms, AOPs, BOIs, estates of deceased individuals, trusts (except charitable or religious trusts), and AJPs. Filing ITR-5 is necessary to report income and meet tax obligations.
Required Documents:
- Bank Statements: Copies of bank statements for all savings and current accounts held during the financial year.
- Aadhaar Card: The unique identification number issued by the Indian government is required for identity verification.
- PAN Card: The Permanent Account Number (PAN) card is necessary for tax-related transactions and identification purposes.
- TDS Certificates: If you have earned interest income or received any income where tax has been deducted at source, you will need TDS certificates.
- Income Details: Provide details of the entity's income details. GST turnover details are also required.
- Deductions and Exemptions: Gather information about deductions, exemptions, and allowances claimed by the entity for calculating the taxable income.
- Other Relevant Documents: Include any other documents specific to the entity's financial activities, such as loan agreements, lease agreements, or property ownership documents.