Mastering Taxes: Your Essential Guide to ITR-5 Filing

ITR-5 Return Filing is a crucial tool for non-corporate entities such as firms, Association of Persons (AOPs), and Body of Individuals (BOIs) to comply with Indian tax laws. Designed for entities outside the corporate framework, ITR-5 allows these groups to report their income, deductions, and tax liabilities systematically. Eligible entities include firms, Limited Liability Partnerships (LLPs), estates of deceased or insolvent individuals, cooperative societies, business trusts, artificial juridical persons, and local authorities. Filing deadlines depend on audit requirements, ranging from 31st July for