GMH Associates

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ITR-5 Form
Filing Online

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

Free Consultation

    Overview

    Overview

    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

    business-men


    Sole Proprietor

    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.


    Partnership Firm

    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.


    Pvt Ltd Company

    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.

    business-men


    Sole Proprietor

    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.


    Partnership Firm

    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.


    Pvt Ltd Company

    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.

    • Partnership firms
    (excluding LLPs)
    • AOPs, BOIs and Artificial
    Juridical Persons
    • Societies and Co-operative Societies
    • Private and
    non-charitable trusts
    • Business trusts and
    investment funds

    Documents Required

    • PAN and Aadhaar of
    entity and partners
    • Partnership deed or
    trust deed
    • Registration certificate
    of entity
    • Profit & Loss Account and
    Balance Sheet
    • Bank statements and
    investment proofs
    • Form 26AS, AIS and
    TDS certificates
    • Loan interest certificates
    and rent documents
    • Donation receipts and
    deduction proofs
    • Partnership firms
    (excluding LLPs)
    • AOPs, BOIs and Artificial
    Juridical Persons
    • Societies and Co-operative Societies
    • Private and
    non-charitable trusts
    • Business trusts and
    investment funds

    Documents Required

    • PAN and Aadhaar of
    entity and partners
    • Partnership deed or
    trust deed
    • Registration certificate
    of entity
    • Profit & Loss Account and
    Balance Sheet
    • Bank statements and
    investment proofs
    • Form 26AS, AIS and
    TDS certificates
    • Loan interest certificates
    and rent documents
    • Donation receipts and
    deduction proofs

    Registration Process

    Registration Process

    Post-Registration Compliances

    Post-Registration Compliances

    Return Verification

    Complete e-verification
    within prescribed period

    Record Maintenance

    Maintain financial
    and tax records

    Audit Compliance

    Conduct audit
    where applicable

    Notice Management

    Respond promptly
    to tax notices

    Annual Filing

    Ensure timely filing
    every financial year

    Return Verification

    Complete e-verification
    within prescribed period

    Record Maintenance

    Maintain financial
    and tax records

    Audit Compliance

    Conduct audit
    where applicable

    Notice Management

    Respond promptly
    to tax notices

    Annual Filing

    Ensure timely filing
    every financial year

    Common Mistakes to Avoid

    Common Mistakes
    to Avoid

    Wrong ITR
    Selection

    Using incorrect return form
    may cause rejection

    Incomplete Income
    Disclosure

    Missing income sources
    may trigger notices

    Financial Statement
    Errors

    Incorrect figures may
    impact tax computation

    Invalid Deduction
    Claims

    Unsupported claims may
    lead to scrutiny

    Missing Return
    Verification

    Unverified returns remain
    invalid and incomplete

    Delayed Return
    Filing

    Late filing may attract
    penalties and interest

    Wrong ITR
    Selection

    Using incorrect return form
    may cause rejection

    Incomplete Income
    Disclosure

    Missing income sources
    may trigger notices

    Financial Statement
    Errors

    Incorrect figures may
    impact tax computation

    Invalid Deduction
    Claims

    Unsupported claims may
    lead to scrutiny

    Missing Return
    Verification

    Unverified returns remain
    invalid and incomplete

    Delayed Return
    Filing

    Late filing may attract
    penalties and interest

    Clients Choose GMH Associates for
    Clients Choose GMH Associates for
    cta_man

    Let's Talk Now.

    If you need immediate assistance, please call:

    PHONE 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.

    cta_man

    Let's Talk Now.

    If you need immediate assistance, please call:

    PHONE 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.

    Ask Questions

    Frequently asked questions

    Who should file ITR-5?

    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.