ITR-5 Excel Utility Made Available on Income Tax e-Filing Website: Details

Income Tax Filing AY 2025: The Income tax (IT) department has made the Income Tax Return-5 Excel Utility available for assessment year (AY) 2024-25, allowing eligible entities to file their income tax returns with revised reporting features.

Are You Eligible To File ITR-5?

ITR-5 is meant for other than Hindu Undivided Families (HUFs), companies, individuals, and those required to file ITR-7.

Also Read: ICICI Bank Raises Minimum Balance Rule for New Savings Accounts: Details

Eligible entities

• Partnership firms
• Limited Liability Partnerships (LLPs)
• Associations of Persons (AOPs)
• Bodies of Individuals (BOIs)
• Artificial juridical persons
• Cooperative societies
• Societies registered under the Societies Registration Act
• Local authorities
• Certain business trusts and investment funds
• Individual taxpayers, HUFs, companies, and entities under ITR-7 provisions are not permitted to use this form.
• Disclosures Under ITR-5 Structure

Part A: This is for balance sheet, general data, manufacturing/trading accounts, profit & loss among other data.

Part B: It includes computation of tax liability and income, schedules for income via multiple sources, depreciation deductions, exempt income, loss set off, foreign assets, tax relief, and GST reconciliation.

Schedules: Income from several sources, deductions, exempt income, foreign assets, loss set-off, depreciation, GST reconciliation, and tax relief.

Key Changes Linked To AY 2024–25

New sections have come up for MSME registration, and section 80-IAC startup deductions, alongside with expanded reporting for emerging income categories such as virtual digital assets for example - NFTs.

The filing can be done via income-tax department's newly launched e-filing portal either using verification code or a digital sign.

Meanwhile, offline submission is also available. No supporting documents are required; however, tax credits must match Form 26AS.

Stipulated Deadlines:

For non-audited entities it is July 31, 2025

For audited accounts it is October 31, 2025

Transfer pricing audit: 30 November 2025 Before filing, taxpayers must ensure portal registration, bank account validation for refunds, updated digital signatures, and submission of applicable statutory forms.