File your entity's income tax
return accurately with expert
ITR-5 filing support
🟩 For firms, trusts and societies
🟩 Covers multiple income sources
🟩 Maximum deduction claim assistance
🟩 Accurate and compliant filing
🟩 End-to-end filing support
ITR-5 is designed for partnership firms, AOPs, BOIs, trusts, societies, business trusts and other eligible non-corporate entities.
It enables reporting of business income, professional income, house property income, capital gains and other earnings while ensuring complete tax compliance.
ITR-5 is designed for partnership firms, AOPs, BOIs, trusts, societies, business trusts and other eligible non-corporate entities.
It enables reporting of business income, professional income, house property income, capital gains and other earnings while ensuring complete tax compliance.
Benefits
Benefits
Tax Comparison
Sole Proprietorship
vs Others
Tax Rate
Individual income tax slabs
ranging from 0% to 30%.
Minimum Tax
No tax payable up to
₹2.5 lakhs of income.
Expense Deduction
Business-related expenses
are fully allowed.
Advance Tax
Applicable if total tax
liability exceeds ₹10,000.
Audit Requirement
Audit required only if
turnover exceeds limits.
Tax Rate
Flat tax rate of
30% on total income.
Minimum Tax
Taxable irrespective of
partner’s personal income.
Expense Deduction
Business expenses
are allowed as deductions.
Advance Tax
Advance tax payment
is applicable.
Audit Requirement
Audit generally required
as per applicable rules.
Tax Rate
Corporate tax at 25%
for turnover below ₹400 cr.
Minimum Tax
Taxable regardless of
dividend distribution.
Expense Deduction
Business expenses
are allowed.
Advance Tax
Advance tax payment
is mandatory.
Audit Requirement
Statutory audit is
mandatory every year.
Tax Rate
Individual income tax slabs
ranging from 0% to 30%.
Minimum Tax
No tax payable up to
₹2.5 lakhs of income.
Expense Deduction
Business-related expenses
are fully allowed.
Advance Tax
Applicable if total tax
liability exceeds ₹10,000.
Audit Requirement
Audit required only if
turnover exceeds limits.
Tax Rate
Flat tax rate of
30% on total income.
Minimum Tax
Taxable irrespective of
partner’s personal income.
Expense Deduction
Business expenses
are allowed as deductions.
Advance Tax
Advance tax payment
is applicable.
Audit Requirement
Audit generally required
as per applicable rules.
Tax Rate
Corporate tax at 25%
for turnover below ₹400 cr.
Minimum Tax
Taxable regardless of
dividend distribution.
Expense Deduction
Business expenses
are allowed.
Advance Tax
Advance tax payment
is mandatory.
Audit Requirement
Statutory audit is
mandatory every year.
Registration Process
Registration Process
Post-Registration Compliances
Post-Registration Compliances
Complete e-verification
within prescribed period
Maintain financial
and tax records
Conduct audit
where applicable
Respond promptly
to tax notices
Ensure timely filing
every financial year
Complete e-verification
within prescribed period
Maintain financial
and tax records
Conduct audit
where applicable
Respond promptly
to tax notices
Ensure timely filing
every financial year
Common Mistakes to Avoid
Common Mistakes
to Avoid
Using incorrect return form
may cause rejection
Missing income sources
may trigger notices
Incorrect figures may
impact tax computation
Unsupported claims may
lead to scrutiny
Unverified returns remain
invalid and incomplete
Late filing may attract
penalties and interest
Using incorrect return form
may cause rejection
Missing income sources
may trigger notices
Incorrect figures may
impact tax computation
Unsupported claims may
lead to scrutiny
Unverified returns remain
invalid and incomplete
Late filing may attract
penalties and interest
If you need immediate assistance, please call:
Share a few details with us, and one of our compliance specialists will get in touch shortly.
We’ll guide you through the entire process — from selecting the right business structure to completing registrations and filings — free of charge.
If you need immediate assistance, please call:
Share a few details with us, and one of our compliance specialists will get in touch shortly.
We’ll guide you through the entire process — from selecting the right business structure to completing registrations and filings — free of charge.
Partnership firms, AOPs, BOIs, trusts, societies and eligible non-corporate entities.
Business income, professional income, house property income, capital gains and other income.
Yes, if turnover exceeds prescribed limits under the Income Tax Act.
The return remains invalid and may not be processed.
Yes, GMH provides complete support from documentation to filing and compliance.