ITR 5

Income Tax Return (ITR) Form 5

Welcome to  S G S P & Associates LLP  We’re here to guide you through the process of filing your Income Tax Return (ITR) using Form 5.

What is ITR Form 5?

ITR Form 5 is primarily used by firms, Limited Liability Partnerships (LLPs), Association of Persons (AOPs), and Body of Individuals (BOIs). It is not applicable to individuals or Hindu Undivided Families (HUFs). If you fall under any of these categories, ITR 5 is the form you need to fill out to report your income to the Income Tax Department of India.

Who Should File ITR Form 5?

1. Firms: This includes partnerships and LLPs.
2. AOPs (Association of Persons): Any group of individuals, including companies or firms, who come together for a joint purpose.
3. BOIs (Body of Individuals): A group of individuals who are not necessarily connected through any legal entity but are assessed for income tax together.

Key Components of ITR Form 5:

1. General Information: Basic details such as name, PAN, address, etc.
2. Income Details: Comprehensive sections to declare income from various sources such as business, profession, salary, house property, capital gains, etc.
3. Tax Computation: Calculation of total taxable income and applicable tax.
4. Verification: Declaration by the taxpayer verifying the accuracy of the information provided.
5. Schedules: Additional schedules may be required depending on the nature and sources of income.

Filing ITR Form 5 With SGSP Associates LLP

Our team at  S G S P & Associates specializes in tax consultancy and can assist you in accurately filing your ITR Form 5. We understand the complexities involved in tax filing for firms, LLPs, AOPs, and BOIs and ensure compliance with the latest tax regulations.

Why Choose Us?

1. Expertise: Our experienced professionals are well-versed in tax laws and regulations.
2. Accuracy: We ensure that your tax returns are filed accurately and on time to avoid penalties.
3. Personalized Service: We provide personalized assistance tailored to your specific tax requirements.
4. Compliance: We stay updated with the latest changes in tax laws to ensure full compliance.

Get in Touch:

Ready to file your ITR Form 5? Contact us today to schedule a consultation and let us handle your tax filing needs efficiently