Business ITR

Overview

Returns

Firm/LLP/AOP

Returns

It is mandatory for a company to file its return of income electronically under digital signature. It is mandatory for a firm to file the return of income electronically with or without digital signature. A partnership firm may also file the return of income under the Electronic Verification Code. However, a firm liable to get its accounts audited under section 44AB shall furnish the return electronically under digital signature.

ITR 5 For persons other than- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7 [ Appliable to Firms / LLP

ITR 6 For Companies other than companies claiming exemption under section 11

ITR 7For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) only

Overview

Every company/ Firm/ Individuals doing business shall, on or before the due date, furnish a return of his income during the previous year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed.

ITR return forms are attachment-less forms and, hence, the taxpayer is not required to attach any document (like proof of investment, TDS certificates, etc.) along with the return of income (whether filed manually or filed electronically). However, these documents should be retained by the taxpayer and should be produced before the tax authorities when demanded in situations like assessment, inquiry, etc.

However, in case of a taxpayer who is required to furnish a report of audit under section 10(23C)(v),10(23C)(vi), 10(23C)(via), 10A,10AA, 12A(1)(b), 44AB, 44DA, 50B, 80-IA,80-IB,80-IC,80-ID, 80JJAA, 80LA,92E,115JB or 115VW shall furnish it electronically on or before the date of filing the return of income.

Due Dates