What is ITR 5 and How to Fill ITR 5 for AY 2021-22? | Canara HSBC Life Insurance

Описание: Every individual who is earning has to file return of income tax as per the income tax act, 1961. There are various rules and regulations to do the same in proper manner. Various documents are to be furnished to complete the process. Such return of income is to be filed in one of the forms named as ITR Form 5. This form includes all the incomes other than the income from property for charitable or religious purposes. This form is not meant for individuals, HUFs or companies. In this article you can understand all about the ITR Form 5. Who is eligible to file the ITR 5 Form? This form can be used by a person who is a firm, LLPs, AOP, BOI, the artificial juridical person referred to in section 2(31)(vii), deceased state, insolvent estate, corporate trust and investment fund, co-operative bank, co-operative society, and local authorities. A person who is required to file income returns in accordance with section 139(4A) or 139(4B) or 139(4C) or 139(4D) shall not use this form. Who is not liable to file ITR 5 Form? Below mentioned taxpayers/assessee are not liable to file ITR-5 Form: Individual taxpayers Company HUF Persons who are required to file tax returns under section 139(4A), 139(4B), 139(4C), 139(4D), 139(4E) or 139(4F) i.e., in Form ITR 7 How do I file my ITR 5 Form? This return form has to be filed online with the Income Tax Department in the following ways: by furnishing the return electronically under digital signature by transmitting the data in the return electronically and thereafter submitting the verification of the return in Return Form ITR-V When the return is filed online, the assessee should print out two copies of ITR-V Form. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to Post Bag No. 1, Electronic City Office, Bengaluru–560500 (Karnataka). The other copy may be retained by the assessee for his record. A firm whose accounts are liable to audit under section 44AB must compulsorily furnish the return electronically under digital signature.

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00:00 - Introduction
00:27 – Eligibility for filing ITR 5
00:37 – Type of partnership firms ITR 5 covers
00:50 – Who else can use ITR 5?