ITR-5: Partnership firms, LLPs, AOPs, BOIs
ITR-5 is applicable to entities other than individuals and HUFs, including:
Partnership firms (including LLPs)
Association of Persons (AOP)
Body of Individuals (BOI)
Artificial Juridical Person (AJP)
Estate of deceased
Estate of insolvent
Business trusts
Investment funds
Price: ₹ 4,999/-
Timeline : 7-15 Days
Proprietorship
Benefits
✅ Legal compliance – Mandatory for firms, LLPs, and AOPs
✅ Avoid penalties and disallowances
✅ Allows claiming deductions and carry forward of losses
✅ Builds financial credibility – Useful for funding, loans, tenders
✅ Essential for registered firms and LLPs under tax audit
Proprietorship
Documents Required
Business/Professional Income:
✅Books of accounts
✅GST returns (if applicable)
Proprietorship
Deliverables
✅ Acknowledgement
✅ Filed ITR-5 copy
✅ Final computation of income and tax
✅ Balance Sheet and P&L summary
✅ Depreciation and asset register
✅ Partner capital account summary
✅ E-verification assistance
✅ Refund tracking or tax payment confirmation