What is the main benefit of filing ITR with filing digits?

• Proper transaction verification and catching of all source of income in ITR
• Accurate tax filing to avoid any tax notices in future
• Future support till the ITR get processed with department
• Time to time IT refund tracking
• Maximum refund eligibility calculation
• Time to time suggestion for Investments to save tax

How ITR-5 is different from ITR 3?

ITR 5 is applicable for entities other than individual comparison to ITR 3

Is there any document need to be attached to this form?

No, no need to attach any document with ITR-5

How can I prepare ITR 5?

ITR can be prepared by ITR utility given by IT department or You can take professional assistance from filingdigits.com to get prepare error free return.

Is there any benefit of filing ITR?

To carry forward business loss, to provide income supporting document etc

Is there any penalty for late filing of return?

Yes, you must Pay Rs 1000 if there is no tax liability in your return or Rs 5000 if there is any tax liability in your return, amount can increase to Rs 10,000 if return filed after 31st Dec.

How can I check my income tax refund status?

You can visit at https://tin.tin.nsdl.com/oltas/refund-status-pan.html

How can I E-Verify my ITR?

You can visit https://www1.incometaxindiaefiling.gov.in/eFilingGS/Services/EverifyHomeLink.html?lang=eng , verification of ITR is mandatory to get process the same in IT records.

Q. What is the main points related to form ITR-5?

Ans.

• ITR-5 is basically applicable for Partnership, LLP, AOP, BOI, Society etc.
• ITR-5 can contain income like Income from business or other income earned from relevant activities by the above said entities.
• Due date to file ITR-5 is 31^st July of every following year. For example, for FY 2018-19, due date was 31^st July 2019, unless otherwise extended. Or if particular entity is covered in tax audit then due date will be 30^th Sep of every year.
• E-Filing is mandatory of this form.