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.