ITR-5 Return Filing

ITR-5 is filed by partnership firms, limited liability partnerships (LLPs), Associations of Persons (AOP), Bodies of Individuals (BOI), estates of deceased or insolvent persons, business trusts and investment funds. It is not used by individuals, HUFs or companies.

Yes. LLPs file their income tax return in ITR-5. Many LLPs also require a tax audit under Section 44AB once turnover thresholds are crossed, and separate LLP compliance such as Form 8 and Form 11 with the ROC. We can handle the return and these filings together.

Remuneration and interest paid to partners are deductible for the firm within the limits prescribed under Section 40(b), provided they are authorised by the partnership deed. The same amounts are then taxable in the partners' hands, which they report in ITR-3.

A tax audit under Section 44AB is required when the firm's turnover exceeds the prescribed limit, or professional receipts exceed ₹50 lakh, or in certain presumptive cases. Where an audit applies, ITR-5 must be filed with a digital signature after the audit report. We manage both.

A digital signature certificate (DSC) is mandatory for entities whose accounts are subject to audit, and is commonly used by firms and LLPs in any case. We help you obtain and apply the DSC so the return is validly filed.

For firms and LLPs not requiring an audit, the due date is generally 31 July of the assessment year, while those requiring a tax audit usually have until 31 October. Late filing attracts fees and interest, so we plan filings in advance.

Yes. The firm files ITR-5 and pays tax on its income, while each partner separately reports their remuneration, interest and exempt share of profit in their own return, usually ITR-3. We coordinate both so they reconcile correctly.

Book a free consultation and share your firm's accounts and partner details. We finalise the accounts, confirm any audit requirement, compute the entity's income and partner payments, and file ITR-5 with a DSC before the due date on a transparent fee.