ITR-5 Form - What it is, Eligibilty & How to File for AY 25-26

2025-06-03

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ITR 5 is one of the income tax return forms that are to be filed by a specific section of taxpayers. As mandated by the Income Tax Act, ITR 5 can be used by firms, LLPs, artificial juridical person, AOP, BOI, business trust and investment fund, estate of deceased, estate of insolvent, cooperative society and local authority. However, a person eligible to file the return of income under sections 139(4A), 139(4B), 139(4C) or 139(4D) shall not use this form.

Structure of ITR-5 Form (For AY 2025-26):

ITR 5 form has been divided into two parts and several schedules and must be filled in the following order

Part A: General information:-
- Part A-BS: Balance Sheet as on 31st March 2025
- Part A-Manufacturing Account for the financial year 2024-25
- Part A-Trading Account for the financial year 2024-25
- Part A-P&L: Profit and Loss Account for the financial year 2024-25
- Part A-OI: Other information
- Part A-QD: Quantitative details
Then there are 31 schedules around Computation of income, Computation of depreciation, Statement of depreciation, income and losses, Deductions etc.
Part B:
- Part B – TI: Computation of total income
- Part B – TTI: Computation of tax liability on total income
Tax payments:
- Details of payment of advance tax and tax on self-assessment tax
- Details of tax deducted at source on income other than salary (16A, 16B, 16C)
- Details of collected at the source

Eligibility to File return using ITR-5:

This Form can be used by a person who is:

A firm or Limited Liability Partnership (LLP)
Association of Persons (AOP)
Body of Individuals (BOI)
Artificial Juridical Person (AJP) referred to in clause (vii) of section 2(31)
Local authority referred to in clause (vi) of section 2(31)
Representative assessee referred to in section 160(1)(iii) or (iv)
Cooperative society
Society registered under Societies Registration Act, 1860 or under any other law of any State
Trust other than trusts eligible to file Form ITR-7
Estate of deceased person or estate of an insolvent
Business trust referred to in section 139(4E)
Investments fund referred to in section 139(4F)

Changes in the ITR-5 Form (AY 2025-26)

There are a few changes in the ITR-5 form for the current assessment year.

A separate section 112A will be used to calculate long-term capital gains on the sale of equities of a business, which is subjected to Securities Transaction Tax (STT).
You have to provide the following details on investments in
- Share’s name
- Type of company
- PAN
- Movement in the investment throughout the financial year
Provide the following information:
- Tax on secondary adjustments to transfer price under Section 92CE(2A).
- Tax deduction claims against investments or any other spending made between 1 April 2025 and 30 June 2025 under Chapter VIA of the Income Tax Act, 1961.
In AY 2024‐25 , the threshold limit for a person carrying on business was increased from one crore rupees to five crore rupees in cases where the cash receipts or payments by a business don’t exceed 5% of such receipts or such payments, however in AY 2024‐25 , the limit of. ₹5 Crore is increased to. ₹ 10 Crore.

How to File ITR 5 Form?

For 5 for filing income tax return has to be filed online on the e-filing web portal of Income-tax Department. However, the form can be verified in the following ways:

Digitally signing the verification part (In a case where accounts are required to be audited u/s 44AB, it is mandatory to verify the return electronically under digital signature.)
Authenticating by way of electronic verification code (EVC)
Sending duly signed paper Form ITR-V (Acknowledgment) by post to CPC, Bangaluru.

ITR 5 must include all types of income other than that of income mentioned in Section 11 of the Indian Income Tax Act, which lays down provisions for income related to religious or charitable property.

Steps to e-filing ITR 5:

Visit the e-filing portal of the Income Tax department at www.incometax.gov.in
Transfer the required data in the form and digitally sign the document in case you wish to choose the e-verification method.
In case the verification is not done electronically, the assessee should print two copies of form ITR-V and send a duly signed copy to the CPC address in Bangalore.

You are not required to attach any documents while filing ITR-5.

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Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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