31 May 2020
What is the structure of the ITR-5 Form? The Form has been divided into two parts and several schedules:
Part A: General information Part A-BS: Balance Sheet as on 31st March 2019 Part A-Manufacturing Account for the financial year 2018-19 Part A-Trading Account for the financial year 2018-19 Part A-P&L: Profit and Loss Account for the financial year 2018-19 Part A-OI: Other information Part A-QD: Quantitative details There are 31 schedules details of which are as under:
Schedule-HP: Computation of income under the head Income from House Property Schedule-BP: Computation of income under the head “profit and gains from business or profession” Schedule-DPM: Computation of depreciation on plant and machinery under the Income Tax Act Schedule DOA: Computation of depreciation on other assets under the Income Tax Act Schedule DEP: Summary of depreciation on all the assets under the Income-tax Act Schedule DCG: Computation of deemed capital gains on sale of depreciable assets Schedule ESR: Deduction under section 35 (expenditure on scientific research) Schedule-CG: Computation of income under the head Capital gains. Schedule-OS: Computation of income under the head Income from other sources. Schedule-CYLA: Statement of income after set off of current year’s losses Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years. Schedule- CFL: Statement of losses to be carried forward to future years. Schedule –UD: Unabsorbed Depreciation Schedule ICDS: Effect of income computation disclosure standards on profit Schedule- 10AA: Computation of deduction under section 10AA Schedule- 80G: Details of donation entitled for deduction under section 80G Schedule- 80GGA: Details of donation for scientific research or rural development Schedule- RA: Details of donations to research associations etc. Schedule- 80IA: Computation of deduction under section 80IA Schedule- 80IB: Computation of deduction under section 80IB Schedule- 80IC/ 80-IE: Computation of deduction under section 80IC/ 80-IE. Schedule 80P: Deductions under section 80P Schedule-VIA: Statement of deductions (from total income) under Chapter VIA. Schedule –AMT: Computation of Alternate Minimum Tax payable under section 115JC Schedule AMTC: Computation of tax credit under section 115JD Schedule-SI: Statement of income which is chargeable to tax at special rates Schedule IF: Information regarding partnership firms in which you are partner Schedule-EI: Statement of Income not included in total income (exempt incomes) Schedule PTI: Pass Through Income details from business trust or investment fund as per section 115UA, 115UB Schedule ESI: Details of Income from outside India and tax relief Schedule TR: Details Summary of tax relief claimed for taxes paid outside India Schedule FA: Details of Foreign Assets and Income from any source outside India Schedule GST: Information regarding turnover/gross receipt reported for GST Part B – TI: Computation of total income Part B – TTI: Computation of tax liability on total income Tax payments: 1.Details of payment of advance-tax and tax on self-assessment tax
2.Details of tax deducted at source on income other than salary (16A, 16B, 16C)
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