Quick Summary
The Central Board of Direct Taxes (CBDT) has officially notified a revisedIncome Tax Return (ITR) Form 5 applicable for Assessment Year 2025-26. The revised form was published in theGazette of India via Notification No. 42/2025 dated May 1, 2025, and is effective from April 1, 2025. ITR Form 5 i
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FAQ :
The ITR-5 Form is primarily for Firms, Limited Liability Partnerships (LLPs), Association of Persons (AOPs), Body of Individuals (BOIs), and certain cooperative societies and trusts that are not eligible to file ITR-7.
The revised ITR-5 Form is effective from April 1, 2025, for Assessment Year 2025-26.
Key changes include enhanced entity identification details (Name, PAN, formation date), more detailed address requirements, a new dropdown for filing deadlines (July 31, Oct 31, Nov 30), and a checkbox for business trust declaration.
Taxpayers must now provide updated details such as Name (including changes), PAN, Date of formation and commencement of business, and LLP Identification Number if applicable.
Detailed residential or office address is now mandatory, including Flat/Door Number, Premises/Building Name, Locality, District, State, Pincode, Country, landline and two mobile numbers, and two email addresses.
The revision aligns with the government's efforts to digitise tax administration, reduce ambiguity in filings, widen compliance, and capture granular information for better risk-based assessments and processing.
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