07 September 2013
This Form (ITR 5) can be used a person being a firm, LLPs, AOP, BOI, artificial juridical person referred to in section 2(31)(vii), cooperative society and local authority. However, a person who is required to file the return of income under section 139(4A) or 139(4B) or 139(4C) or 139(4D) shall not use this form.
This Return Form can be filed with the Income Tax Department in any of the following ways, - (i) by furnishing the return in a paper form; (ii) by furnishing the return electronically under digital signature; (iii) by transmitting the data in the return electronically and thereafter submitting the verification of the return in Return Form ITR-V; (iv) by furnishing a Bar-coded return. However, a firm whose accounts are liable to audit under section 44AB shall compulsorily furnish the return in the manner mentioned at (ii) above. Where the Return Form is furnished in the manner mentioned at 4(iii), the assessee should print out two copies of Form ITR-V. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to Post Bag No. 1, Electronic City Office, Bangaluru–560100 (Karnataka). The other copy may be retained by the assessee for his record.
From assessment year 2013-14 onwards all assessees (other than company and person filing return in ITR-7) having total income more than 5 lakh rupees are required to furnish the return in the manner provided at 4(ii) or 4(iii). Also in case of an assessee to whom Schedule FSI and Schedule TR apply, he has to furnish the return in the manner provided at 4(ii) or 4(iii).
From assessment year 2013-14 onwards in case an assessee who is required to furnish a report of audit under sections 10(23C)(iv), 10(23C)(v), 10(23C)(vi), 10(23C)(via), 10A, 12A(1)(b), 44AB, 80-IA, 80-IB, 80-IC, 80-ID, 80JJAA, 80LA, 92E or 115JB he shall file the report electronically on or before the date of filing the return of income. Further, the assessee who is liable to file the above reports electronically shall file the return of income in the manner provided at 4(ii) or 4(iii).
No document (including TDS certificate) should be attached to this Return Form. All such documents enclosed with this Return Form will be detached and returned to the person filing the return. Tax-payers are advised to match the taxes deducted/collected/paid by or on behalf of them with their Tax Credit Statement (Form 26AS).
02 August 2024
For e-filing the Income Tax Return (ITR) of a society that has been audited under Section 44AB (which pertains to the Tax Audit under the Income Tax Act), the use of a Digital Signature Certificate (DSC) is generally required for certain types of entities and situations. Here’s a breakdown:
### Requirements for DSC in E-filing
1. **Mandatory for Certain Returns:** - For a society, if it is filing an ITR where a tax audit is applicable (e.g., ITR-7 for trusts, associations, and societies), using a DSC is typically mandatory. This is to ensure the authenticity and security of the return submitted electronically. - The DSC is used to digitally sign the return, which serves as the equivalent of a physical signature.
2. **Purpose of DSC:** - **Authentication:** It verifies the identity of the person filing the return and ensures that the return is authentic and hasn’t been altered. - **Compliance:** It complies with the regulatory requirements for electronic filing, especially when the return involves audited financial statements.
3. **When DSC is Not Required:** - For some small-scale or non-audited returns, DSC may not be mandatory, and other methods like EVC (Electronic Verification Code) can be used for verification. - However, for audited returns, DSC is usually required.
### Steps for Using DSC
1. **Obtain DSC:** - The society needs to obtain a DSC from a certifying authority. This is typically done through registered DSC providers.
2. **Register DSC:** - Register the DSC on the Income Tax e-filing portal. This can be done by uploading the DSC on the portal during the e-filing process.
3. **File the Return:** - After registration, use the DSC to digitally sign the return before submission.
### Additional Points
- **For Non-DSC Filing:** - If DSC is not used, the return may need to be verified using an EVC method, but this is generally less common for audited returns.
- **Consult a Professional:** - It’s often advisable to consult with a Chartered Accountant or tax professional to ensure that all requirements are met and to handle any specific compliance issues.
### Summary
For a society that has undergone a tax audit under Section 44AB and is filing an ITR electronically, a DSC is typically required for e-filing. The DSC ensures that the return is filed securely and complies with the necessary regulations.
If you have further questions or need assistance with the DSC process, consulting with a tax professional can provide tailored guidance based on the specifics of your situation.
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