ITR 5
Querist :
Anonymous
(Querist) 24 December 2010
This query is : Resolved
Unaudited partnership firm return of income prepared in paper format i.e, ITR 5 for submiting to AO.
AO refused to accept the paper return and asked to efile the same as ITR 5 is to efile mandatorily.
Kindly guide me, is unaudited ITR 5 to efile?
A V Vishal
(Expert) 24 December 2010
Yes for the Assessment Year 2010-2011 applicable to F Y 2009-2010 and onwards onwards every partnership firm whether a Tax Audit or a Non Tax Audit Case has to file the ITR electronically only.
AMIT BAJAJ ADVOCATE
(Expert) 24 December 2010
Dear Vishal Ji, I have doubt if efiling of all ITR 5 has been made complsory. Only audited ITR5 needs to be efiled as per the following notification. Unaudited ITR-5 can be filed mannualy as per following notification.
Income-tax (Seventh Amendment) Rules, 2010 – Amendment in rule 12
Notification No. 49/2010[F.No.142/15/2010-TPL], dated 9-7-2010
In exercise of the powers conferred by section 295 read with section 139 of Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely : –
1. (1) These rules may be called the Income-tax (7th Amendment) Rules, 2010.
(2) They shall come into force from the date of their publication in the Official Gazette.
2. In the Income-tax Rules 1962, in rule 12, in sub-rule (3), in the proviso, for clause (a), the following clauses shall be substituted, namely :-
“(a) a firm required to furnish the return in Form ITR-5 and to whom provisions of section 44AB are applicable shall furnish the return in the manner specified in clause (ii) or clause (iii);
(aa) an individual or HUF required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii) or clause (iii);
(ab) a company required to furnish the return in Form ITR-6 shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii)’
