ITR-5 Filing –
Partnership Firm, LLP, AOP and BOI Income Tax Return India
ITR-5 filing is the income tax return process for non-corporate entities — partnership firms, LLPs, AOPs, BOIs, co-operative societies, and local authorities. These entities cannot use ITR-3 or ITR-6. Filing the wrong form leads to a defective return notice under Section 139(9).
Overview
What Is the ITR-5 Form?
The ITR-5 form is the income tax return for firms, LLPs, AOPs, BOIs, and other prescribed non-corporate entities. It covers all income heads — business and profession, capital gains, house property, and other sources. The ITR-5 form also requires a full balance sheet, profit and loss account, and 31 detailed schedules — making it significantly more comprehensive than individual ITR forms.
N D Savla & Associates handles complete ITR-5 filing for firms, LLPs, and all eligible non-corporate entities. We prepare financials, compute tax, and submit the ITR-5 form with full DSC verification. Our service connects with our Income Tax E-Filing services and Income Tax Audit support — covering your complete entity tax compliance in one place.
Entities Covered Under ITR-5 Eligibility
Partnership Firms
Registered and unregistered. Tax at 30% flat rate. Partner remuneration capped under Section 40(b).
Limited Liability Partnerships (LLPs)
Tax at 30% flat. Audit required above ₹1 crore turnover or ₹25 lakh contribution.
Associations of Persons (AOPs)
Joint ventures or groups formed for a common purpose. Tax rate depends on member composition.
Bodies of Individuals (BOIs)
Individuals pooling resources to earn income. Tax rate based on individual share levels.
Co-operative Societies
Slab-based rates. Significant Section 80P deductions available on qualifying income.
Local Authorities
Municipal bodies and panchayats earning taxable income file ITR-5.
Business Trusts & Investment Funds
Business trusts and investment funds file ITR-5 for their income tax return.
Estates of Deceased / Insolvent
Legal representatives file ITR-5 on behalf of estates of deceased or insolvent persons.
Entity-Specific Requirements
ITR-5 Filing Requirements by Entity Type
Each entity type covered by the ITR-5 form has specific income computation rules, partner/member disclosure requirements, and audit thresholds. Getting these right prevents disallowances and demand notices.
Partnership Firm Income Tax Return India
Every registered and unregistered partnership firm files a partnership firm income tax return India using the ITR-5 form. The firm reports business income, capital gains, interest earned, and house property income. The ITR-5 form requires disclosure of each partner's name, PAN, profit sharing ratio, and remuneration paid.
Remuneration to working partners is deductible under Section 40(b) — within prescribed limits based on book profit. Computing allowable remuneration correctly reduces the firm's taxable income and avoids disallowance on assessment. Our Business Tax Filing service handles the complete partnership firm income tax return India — including partner-level computations linking each partner's ITR-3.
LLP Income Tax Return — ITR-5 Filing
Every limited liability partnership files an LLP income tax return using ITR-5. The LLP reports business income, capital gains, and all other income heads. LLPs with turnover exceeding ₹1 crore — or ₹3 crore with 95% digital transactions — or contribution exceeding ₹25 lakh require a mandatory tax audit under Section 44AB.
We prepare complete LLP financials — profit and loss account, balance sheet, and capital accounts — before the ITR-5 filing. GST turnover figures are reconciled with the LLP income tax return before submission. Our Income Tax Audit service handles the LLP tax audit report in Form 3CB-3CD as a prerequisite where required.
AOP and BOI Income Tax Return India
Associations of Persons and Bodies of Individuals file an AOP BOI income tax return India using the ITR-5 form. AOPs cover joint ventures between individuals for a specific project. BOIs consist of individuals pooling resources to earn income. Both structures require ITR-5 filing when they earn taxable income.
The tax rate for an AOP BOI income tax return India depends on member composition and income levels. Where all members are individuals and no member's share exceeds the basic exemption, slab rates apply. Where any member's share exceeds the basic exemption, the maximum marginal rate applies to the AOP's total income. We perform member-level analysis before every AOP BOI income tax return computation.
Co-operative Societies — Section 80P and ITR-5
Co-operative societies use the ITR-5 form and can claim significant deductions under Section 80P — on income from providing credit facilities to members, marketing of agricultural produce, and other qualifying activities. These deductions substantially reduce taxable income for eligible co-operative societies. Our Tax Health Check reviews all applicable Section 80P deductions before each co-operative society ITR-5 filing.
Co-operative societies face slab-based tax rates: 10% up to ₹10,000, 20% from ₹10,001 to ₹20,000, and 30% above ₹20,000. Surcharge and cess apply on the computed tax. The combination of slab rates and Section 80P deductions means co-operative society tax positions require careful computation before the ITR-5 form is filed.
What You're Taxed At
Tax Rates Applicable in ITR-5 Filing
Tax rates differ significantly across entity types covered by the ITR-5 form. Applying the wrong rate creates an incorrect return and attracts a demand notice from the Income Tax Department.
Flat Rate — No Slab
- 12% surcharge when total income exceeds ₹1 crore
- 4% health and education cess on tax + surcharge
- Effective rate above ₹1 crore: ~34.94%
- No basic exemption — all income taxed at 30%
- Partner remuneration deductible under Section 40(b)
Rate Depends on Members
- Maximum marginal rate if any member's share exceeds basic exemption
- Slab rates if no member's share exceeds basic exemption
- Flat rate where members include non-individuals (companies, firms)
- Section 167B governs the rate selection — member-level analysis required
- 4% cess applies in all cases
Slab-Based Rate
- 10% on income up to ₹10,000
- 20% on income from ₹10,001 to ₹20,000
- 30% on income above ₹20,000
- Section 80P deductions reduce taxable income significantly
- 4% cess on tax; 12% surcharge above ₹1 crore
ITR-5 vs ITR-6 vs ITR-7 — Form Selection Guide
| Entity Type | Correct Form | Reason |
|---|---|---|
| Partnership Firm | ITR-5 | Non-corporate entity with business income |
| LLP (Limited Liability Partnership) | ITR-5 | Non-corporate entity — not a company under Companies Act |
| AOP / BOI | ITR-5 | Non-corporate persons grouped for common income |
| Co-operative Society | ITR-5 | Section 80P deductions and slab rates apply via ITR-5 |
| Private Limited / Public Company | ITR-6 | Companies must use ITR-6 — not ITR-5 or ITR-3 |
| Charitable Trust / NGO (Section 12A) | ITR-7 | Section 139(4A)–(4D) entities use ITR-7 |
| Political Party | ITR-7 | Section 139(4B) — mandatory ITR-7 |
| Business Trust / Investment Fund | ITR-5 | Prescribed entities under the ITR-5 eligibility list |
Filing Deadlines
ITR-5 Due Date and Late Filing Consequences
The ITR-5 due date varies by entity type and audit requirement. Missing the correct deadline triggers penalties and permanently forfeits business loss carry-forward — a significant cost for entities with net losses. We begin preparing financials from April, well before the ITR-5 due date.
All firms, LLPs, AOPs, and BOIs not subject to Section 44AB tax audit must file by 31 July 2025 for AY 2025-26.
Entities subject to tax audit have an extended ITR-5 due date of 31 October 2025. The audit report Form 3CB-3CD must be uploaded before the ITR-5 filing. Our Income Tax Audit service coordinates both deadlines.
Entities filing Form 3CEB for international or specified domestic transactions face a separate and later ITR-5 due date of 30 November 2025.
₹5,000 late fee under Section 234F. Interest at 1% per month under Section 234A on outstanding tax. Business losses permanently forfeit carry-forward if ITR-5 is filed after the due date. Our Income Tax Notice advisory handles all late filing consequences.
Advance Tax for Firms and LLPs — Four Instalments
Unlike presumptive taxpayers who pay in one instalment, firms and LLPs pay advance tax in four quarterly instalments.
What to Gather
Documents Required for ITR-5 Filing
The ITR-5 form is an annexure-free return — no documents are attached at filing. However, preparing accurate financials requires detailed records before the filing begins. Incomplete documentation causes errors in the 31 required schedules and attracts Section 143(1) notices.
Financial Statements and Entity Records
- Audited or unaudited profit and loss account and balance sheet — the ITR-5 Part A-BS requires complete balance sheet disclosure
- Trading account and manufacturing account where applicable — for entities with goods trading or manufacturing
- Partners' capital accounts for partnership firm income tax return India — opening balance, additions, withdrawals, closing balance, profit sharing ratio, and remuneration per partner
- LLP designated partner details — for LLP income tax return entries in the partner schedule
- AOP/BOI member details — name, PAN, and income share for each member — for AOP BOI income tax return India computation
Tax and Compliance Records
- Form 26AS and AIS — for TDS reconciliation. We cross-check all TDS deducted on entity income against Form 26AS before ITR-5 filing to prevent Section 143(1) notices
- Advance tax payment challans — for all four instalments paid during the year
- Tax audit report in Form 3CB-3CD — where Section 44AB applies. Our Income Tax Audit service prepares and uploads the audit report before the ITR-5 due date
- GST returns (GSTR-1 and GSTR-3B) — for turnover reconciliation with the ITR-5 business income figures
- DSC (Digital Signature Certificate) of the designated partner or authorised signatory — mandatory for ITR-5 e-filing
Our Services
Our ITR-5 Filing Services at N D Savla & Associates
We provide complete ITR-5 filing support — from books preparation and tax computation to DSC-based e-filing and post-submission compliance for all eligible non-corporate entities.
Partnership Firm Income Tax Return India — Full Service
LLP Income Tax Return — Audit, Accounts and ITR-5 Filing
AOP BOI Income Tax Return India — Specialised Filing
Advance Tax Planning and Co-operative Society Section 80P
File Your ITR-5 Return Accurately — Firm, LLP, AOP and Co-operative Society Covered.
Partnership firm income tax return, LLP income tax return, AOP BOI filing, co-operative society returns, Section 44AB audit, and DSC-based e-filing — complete ITR-5 support for all eligible entities across India.
+91 98190 00511 | +91 91670 58000 | +91 98190 00445 | nainitsavla@savlagroup.in
Contact UsF.A.Q.
ITR-5 filing is the income tax return process for partnership firms, LLPs, AOPs, BOIs, co-operative societies, local authorities, business trusts, and investment funds. ITR-5 eligibility covers all non-corporate entities that do not use ITR-6 or ITR-7. Therefore, any firm, LLP, or AOP earning taxable income in India must complete ITR-5 filing every year. Our Income Tax E-Filing advisory confirms the correct form for every entity.
The ITR-5 due date for non-audit entities is 31 July 2025. For entities requiring a Section 44AB tax audit, the ITR-5 due date extends to 31 October 2025. Furthermore, entities with transfer pricing in Form 3CEB face a 30 November 2025 ITR-5 due date. Missing the due date results in a ₹5,000 late fee and loss of business loss carry-forward.
Partnership firms pay income tax at 30% flat in their ITR-5 filing. A 12% surcharge applies when total income exceeds ₹1 crore. Additionally, a 4% health and education cess applies on the tax and surcharge combined. Therefore, the effective tax rate for firms with income above ₹1 crore is approximately 34.94%
Yes, in certain cases. An LLP income tax return requires a Section 44AB tax audit when total turnover or gross receipts exceed ₹1 crore (or ₹3 crore with 95% digital transactions). Additionally, an LLP with professional receipts exceeding ₹50 lakh also requires a tax audit. Our Income Tax Audit service prepares the Form 3CB-3CD report before the ITR-5 due date.
An AOP BOI income tax return India requires computing tax at either maximum marginal rate or slab rate — depending on member composition and individual share levels. Where no member’s individual share exceeds the basic exemption, a lower rate applies. However, where any member has income exceeding the basic exemption, the maximum marginal rate applies to the AOP’s income. We perform member-level analysis before every AOP BOI ITR-5 filing.
Yes. Co-operative societies filing ITR-5 can claim significant deductions under Section 80P on income from providing credit facilities to members, marketing of agricultural produce, and certain other activities. Furthermore, Section 80P deductions reduce the taxable income substantially for qualifying co-operative societies. We identify all applicable Section 80P deductions before each ITR-5 filing. Our Tax Health Check reviews 80P eligibility as part of every co-operative society ITR-5 engagement.
The ITR-5 form requires partnership firms to disclose each partner’s name, PAN, profit sharing ratio, remuneration received, and interest received during the year. Additionally, the allowable partner remuneration under Section 40(b) must match the amounts declared in the firm’s profit and loss account. Furthermore, any disallowable remuneration — exceeding Section 40(b) limits — increases the taxable income in the partnership firm income tax return India.
