ITR 5 Return for new LLP

Not enabled.

In fact utilities for ITR3, ITR5 & ITR7 are not enabled till the date.

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A new LLP needs to file ITR-5 regardless of whether it made any profit in year one. Even a nil return is mandatory.

Key things for first-year ITR-5:
- Balance sheet and profit and loss account as at March 31 are required. Prepare these first.
- Schedule BP (business and profession income) is where you report income under the applicable head.
- If turnover is below Rs 1 crore, no tax audit is needed. Above that, a tax audit under Section 44AB applies and the ITR needs to be submitted with Form 3CA and 3CD.
- Due date for LLPs without audit: July 31, 2026. For LLPs with audit: September 30, 2026.

For a first-year LLP, the biggest mistake is not preparing proper books from day one. The ITR-5 utility pulls figures from your books, so incomplete or missing ledgers will cause problems at filing.

For a step-by-step on what documents to prepare and what to expect at filing, this [ITR-7 filing guide for entities](taxgarden.in/blog/itr-7-filing-guide-ay-2026-27-trusts-societies-ngos-india) covers a similar entity-level return structure.