Introduction

On May 1, 2025, the Central Board of Direct Taxes (CBDT) notified a revised version of Income Tax Return (ITR) Form 5, applicable for the Assessment Year 2025–26. This update was officially published via Notification No. 42/2025 in the Gazette of India and is effective from April 1, 2025.

ITR Form 5 is primarily used by Firms, LLPs, Association of Persons (AOPs), Body of Individuals (BOIs), and certain cooperative societies and trusts not eligible to file ITR-7.

Who Should File ITR Form 5?

The revised ITR Form 5 is applicable to:

• Firms (other than those eligible to file ITR-7)
• Limited Liability Partnerships (LLPs)
• Association of Persons (AOPs)
• Body of Individuals (BOIs)
• Artificial Juridical Persons
• Co-operative societies (where ITR-7 is not applicable)
• Trusts not claiming exemption under Section 11 and 12

Key Changes in the Revised ITR Form 5

1. Enhanced Entity Identification Requirements

The revised form now requires comprehensive entity-related information:

• Full legal name and any recent changes therein
• PAN (Permanent Account Number)
• Date of Formation and Date of Commencement of Business
• LLP Identification Number (LLPIN) for LLPs

2. Detailed Address Disclosure

Taxpayers must now furnish complete and updated address details, including:

• Flat/Door Number
• Building/Premises Name
• Locality/Area
• Town/City/District
• State and Pincode
• Country of Residence
• Contact numbers (landline and two mobile numbers)
• Two valid email addresses

3. Clear Filing Status and Due Date Declaration

The updated form introduces a dropdown-style selection for return due dates:

• July 31
• October 31
• November 30

Taxpayers must also mention the section under which the return is being filed:

• Section 139(1) – Return filed within the due date
• Section 139(4) – Belated return
• Section 139(5) – Revised return
• Section 92CD – Modified return under APA
• Section 119(2)(b) – Return filed under CBDT condonation

4. Disclosure for Business Trusts

A new checkbox seeks disclosure of whether the entity is a Business Trust. This ensures correct classification and tax applicability.

Why This Revision Matters

The revised ITR Form 5 supports the government’s goals of simplifying tax compliance and boosting digitization. Key benefits include:

• Improved accuracy in taxpayer data
• Better assessment tools for risk profiling
• Simplified compliance for non-individual entities
• Faster processing and refunds

Important Instructions for Taxpayers

1. Use Updated Utility

Taxpayers must use the latest utility version on the Income Tax e-filing portal which reflects the revised ITR-5 structure.

2. Keep Documentation Ready

• Updated address proof
• Business registration documents
• Date of formation/start of business
• Proof of name change (if any)
• Contact details of partners/members

3. Review Applicability of Sections

Select the correct section while filing to avoid mistakes—especially for belated, revised, or condonation-based returns.

Due Date for Filing ITR-5 for AY 2025-26

The applicable due dates are as follows:

• Non-audited entities – July 31, 2025
• Audited firms/LLPs – October 31, 2025
• Entities with international/domestic TP – November 30, 2025

Late filing may lead to penalties under Section 234F and interest under Sections 234A, 234B, or 234C.

Conclusion

The revised ITR Form 5 for AY 2025-26 marks a significant shift toward structured and transparent tax reporting. All entities covered under this form must understand the changes and prepare accordingly. Filing accurately and within the due date can help avoid scrutiny, penalties, or delays in processing.

It is strongly advised to consult a Chartered Accountant or tax expert to ensure proper compliance with the new reporting format.