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ITR 5 Income tax Form Explained

ITR 5 Income Tax Return Form mentions that it is applicable for persons other than Individuals, HUFs, Companies and Persons filing ITR 7. Which means ITR 5 is applicable for Firms, Limited Liability Partnerships, Body Of Individuals (BOI) and Association Of Persons (AOP) etc.

Who should file ITR 5 ?

This Income Tax Return can only be filed by the following:

  • Partnership Firms,
  • Limited Liability Partnership,
  • Association Of Persons (AOP),
  • Body of individuals (BOI),
  • Co-operative Banks,
  • Co-operative Societies Registered under Societies Act,
  • Artificial Juridical Person or Trusts.