Income Tax Return Filing – ITR-5 for Firms & LLPs
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MEQUINTRAX DIGITAL SERVICES PRIVATE LIMITED specializes in Income Tax Return filing for Partnership Firms, LLPs, AOPs, BOIs, and Trusts across India.
What You Get:
✅ Dedicated Tax Accountant
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✅ ITR-5 Acknowledgement & Compliance Proof
Our team ensures accurate and timely reporting of all applicable heads of income including Profits and Gains of Business or Profession, Capital Gains, and Other Sources—while maintaining full compliance with the Income Tax Act, 1961.
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ITR-5 Return Filing
Perfect for: File your Income Tax Return smoothly with Mequintrax’s expert ITR-5 filing service — designed for firms, LLPs, AOPs, and BOIs.
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ITR-5 Income Tax Return Filing – Tailored Solutions for Firms & Non-Corporate Entities
3. In All Other Cases (No Audit Required):
The Income Tax Department of India provides different ITR forms based on the taxpayer's classification and source of income. Among them, ITR-5 is exclusively designed for entities such as partnership firms, LLPs, Associations of Persons (AOP), Bodies of Individuals (BOI), and other non-corporate organizations who are not required to file returns under company-specific forms.
These entities, although not structured as companies, are still obligated to declare their income, claim deductions, and fulfil their tax responsibilities annually. ITR-5 serves as the official channel for reporting such financial details to the Income Tax Department in a structured and compliant manner.
At MEQUINTRAX DIGITALSERVICES PRIVATE LIMITED, we offer dedicated ITR-5 return filing services that eliminate the stress and complexity of tax filing. Our team ensures that your financial data is accurately presented, timely submitted, and fully compliant with current tax laws.
Who Can File the ITR-5 Form?
The ITR-5 Form is specifically designed for entities and individuals who do not fall under the “company” category but are still required to report their income to the Income Tax Department of India. It caters to a wide range of taxpayers, including various non-individual and representative entities.
The following categories are eligible to file ITR-5:
- Partnership Firms
- Limited Liability Partnerships (LLPs)
- Association of Persons (AOP)
- Body of Individuals (BOI)
- Artificial Juridical Persons (as defined under Section 2(31)(vii))
- Local Authorities (as defined under Section 2(31)(vi))
- Representative Assessees under Section 160(1)(iii) or 160(1)(iv)
- Cooperative Societies
- Societies registered under the Societies Registration Act, 1860 or under any corresponding law in force in any State
- Trusts (other than those required to file ITR-7)
- Estate of a Deceased Person
- Estate of an Insolvent Person
- Business Trusts as per Section 139(4E)
- Investment Funds as per Section 139(4F)
Who Cannot File ITR-5?
This form should not be used by taxpayers who are required to file returns under:
- Section 139(4A) – Trusts claiming exemption under Section 11
- Section 139(4B) – Political parties
- Section 139(4D) – Certain institutions like universities, colleges, and research associations
Not sure whether ITR-5 is the right form for you? Get in touch with our tax experts at MEQUINTRAX DIGITALSERVICES PRIVATE LIMITED for personalized assistance.
Due Dates for Filing ITR-5 Form
The due date for filing the ITR-5 form varies based on whether the taxpayer is required to get their accounts audited or submit a transfer pricing report. Here's a clear breakdown of the deadlines:
1. When Audit is Applicable (Under Income Tax Act):
If the entity’s accounts are subject to mandatory audit under the Income Tax Act, the due date for filing ITR-5 is 31st October of the relevant assessment year.
2. When Transfer Pricing Report (Form 3CEB) is Applicable:
In case the taxpayer is required to submit a report in Form No. 3CEB (due to international or specified domestic transactions), the due date for filing ITR-5 extends to 30th November of the assessment year.
For entities not liable for audit under the Income Tax Act, the ITR-5 return must be filed by 31st July of the assessment year.
Missing the deadline may result in late filing fees under Section 234F and potential interest or penalties, so timely compliance is essential.
Structure of the ITR-5 Form
-
Part A: General Information
- Part A-BS: Balance Sheet as of 31st March 2024
- Part A-Manufacturing Account: For the financial year 2023–24
- Part A-Trading Account: For the financial year 2023–24
- Part A-P&L: Profit and Loss Account for the financial year 2023–24
- Part A-OI: Other Information
- Part A-QD: Quantitative Details
Part B: Computation of Total Income and Tax Liability- Part B-TI: Computation of Total Income
- Part B-TTI: Computation of Tax Liability on Total Income
Schedules (40 in Total)These schedules are designed to capture detailed information on various aspects of income, deductions, and tax computations:- Schedule-HP: Income from House Property
- Schedule-BP: Profits and Gains from Business or Profession
- Schedule-DPM: Depreciation on Plant and Machinery
- Schedule-DOA: Depreciation on Other Assets
- Schedule-DEP: Summary of Depreciation
- Schedule-DCG: Deemed Capital Gains on Sale of Depreciable Assets
- Schedule-ESR: Deduction under Section 35 (Expenditure on Scientific Research)
- Schedule-CG: Capital Gains
- Schedule-112A: Sale of Equity Shares/Units on which STT is paid under Section 112A
- Schedule-VDA: Income from Transfer of Virtual Digital Assets
- Schedule-OS: Income from Other Sources
- Schedule-CYLA: Set-off of Current Year’s Losses
- Schedule-BFLA: Set-off of Brought Forward Losses
- Schedule-CFL: Losses to be Carried Forward
- Schedule-UD: Unabsorbed Depreciation
- Schedule-ICDS: Effect of Income Computation Disclosure Standards on Profit
- Schedule-10AA: Deduction under Section 10AA
- Schedule-80G: Donations under Section 80G
- Schedule-80GGA: Donations for Scientific Research or Rural Development
- Schedule-80GGC: Contributions to Political Parties
- Schedule-80IAC: Deduction for Eligible Start-ups
- Schedule-80LA: Deduction for Offshore Banking Units or IFSC
- Schedule-RA: Donations to Research Associations
- Schedule-80IA/80IB/80IC/80IE: Business Deductions
- Schedule-80P: Deductions for Cooperative Societies
- Schedule-VIA: Chapter VIA Deductions
- Schedule-AMT: Alternate Minimum Tax under Section 115JC
- Schedule-AMTC: Tax Credit under Section 115JD
- Schedule-SI: Income Chargeable to Tax at Special Rates
- Schedule-IF: Information on Partnership Firms
- Schedule-EI: Exempt Income
- Schedule-PTI: Pass-Through Income from Business Trusts or Investment Funds
- Schedule-TPSA: Secondary Adjustment to Transfer Price
- Schedule-115TD: Accreted Income under Section 115TD
- Schedule-FSI: Foreign Source Income Details
- Schedule-TR: Tax Relief for Taxes Paid Outside India
- Schedule-FA: Foreign Assets and Income
- Schedule-GST: Turnover/Gross Receipt Reported for GSTTax Payments
- Advance Tax and Self-Assessment Tax: Details of payments made
- TDS Details: Tax Deducted at Source on income other than salary (Forms 16A, 16B, 16C)
- TCS Details: Tax Collected at Source
Filing Sequence Recommended by the Income Tax Department- Part A
- Applicable Schedules
- Part B
- Verification Section
File Your ITR-5 with Mequintrax TodayEnsure your LLP, partnership firm, or association of persons (AOP) stays fully compliant with India’s tax laws by filing ITR-5 on time. With Mequintrax, you get professional tax experts, accurate filing, and hassle-free compliance support.
File your ITR-5 online with Mequintrax Digital Services Pvt. Ltd. – Trusted partner for LLPs, firms, and business entities. Get expert guidance, timely filing, and faster refunds with complete peace of mind.
Top 6 Reasons to File Your ITR-5 with a Trusted Tax Filing Expert
Expert Support from Qualified Tax Professionals
Our team of experienced Chartered Accountants and tax consultants specialize in filing ITR-5 for firms, LLPs, AOPs, BOIs, estates, and trusts. MEQUINTRAX ensures accurate reporting of financials, schedules, and deductions while staying fully compliant with the Income Tax Act. We help you avoid errors, penalties, or notices from the Income Tax Department.
Timely Filing to Avoid Penalties
Timely filing is critical to avoid late fees, interest, and compliance issues especially for entities requiring audit or furnishing Form 3CEB. MEQUINTRAX ensures your ITR-5 is filed on or before the due date, whether it’s 31st July, 31st October, or 30th November, depending on your audit requirements.
Transparent and Pocket-Friendly Pricing
We offer straightforward pricing plans with no hidden charges. Our ITR-5 packages are designed specifically for partnership firms, LLPs, and other organizations—making tax compliance affordable and accessible without sacrificing quality.
100% Online, Hassle-Free Filing Experience
MEQUINTRAX provides a secure, digital-first platform to make your ITR-5 filing effortless. Simply upload your documents online, and our tax professionals will handle the preparation and filing while ensuring your data is safe and confidential.
Personalized Tax-Saving Guidance
In addition to ITR-5 filing, we analyze your books and transactions to guide you on applicable deductions, depreciation, carry-forward losses, and other tax-saving provisions. Our goal is to help your organization optimize tax liability within legal limits.
Dedicated Relationship Manager
Every client at MEQUINTRAX is paired with a personal tax advisor who offers consistent support throughout the filing process. From documentation to status updates, you get timely help and expert guidance at every step.
? Who should file the ITR-5 Form?
? Who cannot use the ITR-5 Form?
? What is the due date for filing the ITR-5 Form?
? Is it mandatory to e-file the ITR-5 Form?
? What is the structure of the ITR-5 Form?
? Are any documents required to be attached to the ITR-5 Form?
? Can a local authority file the ITR-5 Form?
? What if I miss the due date for filing ITR-5?
? Can the ITR-5 Form be revised after filing?
? Can an LLP file the ITR-5 Form?
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