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ITR 5 for partnership firm AY 23-24

Lila (Job) (490 Points)

12 July 2023

I have a partnership firm and I never declared income on presumptive basis. This year also we do not want to file our income under presumptive basis. Hence ITR 5 should be applicable for us.

However, while filing the ITR, only option available for us is ITR 4 (presumptive income ITR). ITR 5 is not being shown as an option. Has anyone been able to file ITR 5? Is not showing ITR 5, a technical glitch?

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7 Replies

CA Aakarsh Jain (CA) (10216 Points)
Replied 12 July 2023

Hi, I'll be happy to help you. Please check the details in your inbox once.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160337 Points)
Replied 12 July 2023

ITR 5 is available only in Excel utility.

For Java utility or online filing, wait for its release.

Lila (Job) (490 Points)
Replied 12 July 2023

Tried filing in excel utility, but getting below error:

Error : Please correct the below mentioned error(s) in the uploaded json and try again.

"Invalid hash value identified. Modification of ITR outside utility is not allowed"

Can anyone explain this error. Validated all individual sheets, but no error found.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (160337 Points)
Replied 12 July 2023

It is bug in the utility. Wait for its upgradation.

File complaint under Grievances.

sabyasachi mukherjee (26067 Points)
Replied 13 July 2023

Not a bug in the utility

Lila (Job) (490 Points)
Replied 17 July 2023

Any idea why this error then. Validation of individual file shows no error.

VIRAAJ VASHISHTH (81 Points)
Replied 26 February 2024

A Comprehensive Guide to File ITR Form 5

As the tax season approaches, many individuals find themselves grappling with the intricacies of filing income tax returns. For those with complex financial portfolios, especially those engaged in businesses or professions, ITR Form 5 becomes the go-to document. In this comprehensive guide, we'll unravel the process of filing ITR Form 5, explore eligibility criteria, and walk through the essential steps to ensure a seamless filing experience.

What is ITR Form 5:

Eligibility:

ITR Form 5 is primarily designed for individuals and Hindu Undivided Families (HUFs) who fall under the category of "Firms, Association of Persons (AOPs), Body of Individuals (BOIs), and Limited Liability Partnerships (LLPs)."

It is not applicable for individuals or HUFs earning income from a proprietary business or profession.....

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