The taxpayers have to file returns on the basis of the income earned in a financial year and the kind of entity they fall under. Let’s explore in detail the taxpayers who are required to file Form ITR-5 and other relevant instructions pertaining to the same. The various provisions and sections mentioned in this article are of the Income Tax Act, 1961.
Filing Form ITR-5
For Individuals having Taxable Income less than Rs. 5 Lacs
For Individuals having Taxable Income upto 10 lacs
For Individuals having Taxable Income upto 25 Lacs