ITR-5 and 7 ready for E-Filing: Income Tax Department

Income Tax Return Document - Income Tax Return - Finance Ministry - Taxscan

The Income Tax department has today informed the taxpayers that ITR-5 and 6 has been enabled in the e-portal for filing. Till now, all Forms except ITR 6 are available now in the portal.

“ITR 1, 2, 3, 4, 5 and 7 for AY 2018-19 is now available for e-Filing. ITR 6 will be available shortly,” a statement appeared in the income tax department today said.

On April this year, The Central Board of Direct Taxes (CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2018-19.

ITR-5 has to be filed by a person being a firm, LLPs, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), cooperative society and local authority.

ITR-7 is filed when persons including companies fall under section 139(4A) or section 139 (4B) or section 139 (4C) or section 139 4(D).

  • Return under section 139(4A) is required to be filed by every person in receipt of income derived from property held under trust or other legal obligation wholly for charitable or religious purposes or in part only for such purposes.
  • Return under section 139(4B) is required to be filed by a political party if the total income without giving effect to the provisions of section 139A exceeds the maximum amount which is not chargeable to income-tax.
  • Return under section 139(4C) is required to be filed by every
    • scientific research association ;
    • news agency ;
    • association or institution referred to in section 10(23A);
    • institution referred to in section 10(23B);
    • fund or institution or university or other educational institution or any hospital or other medical institution.
  • Return under section 139(4D) is required to be filed by every university, college or other institution, which is not required to furnish return of income or loss under any other provision of this section.

On Friday, the department has enabled ITR-3 which is applicable for individual and HUF who have income from profits and gains from business or profession.

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