Itr 5

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2014 Dear Sirs,

Sub: e-filing ITR-5 for A.Y 2014-15 – Reg.

We are Employees Provident Fund Trust. Our EPF Trust is a recognised one. The income of the trust is exempt U/s 10(25) of the Income Tax Act 1961. The Trust is given PAN having the “STATUS” as Trust.

We have e-filed our income tax returns upto AY 2013-14 using ITR-5. For the AY 2014-15, we have tried to e-file our income tax return in ITR-5; but in the portal such category of “Trust” is given. But other categories such as AOP, BOI, FIRM ect. are seen.

So, in the asbense of Trust category in the said ITR-5 online java utility we could not e-file our trust’s return we cannot e-file our return in ITR-7 as this form relates to the trust claiming exemption u/s.11 of the Act 1961.

So, please guide us as to how to e-file our trust return of income for AY 2014-15 in ITR-5. This will be of immense to the assesses such as ours.

Thanking you,
Yours faithfully,
AR. VISWANATHAN
Trustee,
SVCF EPF Trust.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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04 August 2014 Dear Mr Viswanathan,

ITR 7 doesn't apply to recognized provident funds. Actually provident funds are not required to file income tax return under section 139 as their income is totally exempt under Section 10(25).

They normally file return only to claim refund of TDS wrongly deducted on interest. So in such cases you may file ITR5 as a AOP.

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