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All taxpayers in Mumbai are required to file an income tax return Mumbai based on the amount of money they earn in a particular fiscal year and the kind of company they belong to. A firm, a limited liability partnership, an association of persons, a body of individuals, the artificial juridical person, estates of deceased, estates of insolvent, business trust and investment fund, cooperative societies, and local authorities can all file ITR 5 returns in Mumbai. How to file Income Tax Return ITR 5 Form Filing in Mumbai.

Audit Reports for eFiling

Since the AY 2013-2014, the assesse has been required to provide an audit report under sections 10 23C(v), 10 (23C) (vi), 10 (23C) (via), 10A, 10AA, 12A(1)(b), 44AB, 44DA, 50 B, 80 IA, 80 IB, 80 IC, 80 ID, 80 JJAA, 80 LA, 92 E, 115 JB, 115 VW. It should be completed either online or before to the due date for submitting tax returns.

The deadline for filing ITR 5 returns in Mumbai for the fiscal year 2020-2021.

31st July is the due date for without audits cases, and 31st October 2021 for audit case that are required.

Amendments made for filing ITR 5 Filing in Mumbai for the FY 2020 – 2021

• Details of recognition as a Start-up by DPIIT
• Details of the declaration filed in Form 2
• Information about the partnership firms where an individual is a partner
• Bifurcation of the donation into cash and non-cash mode of payment
• Information of the turnover and the gross receipts that are reported for GST

There is no need to submit any documentation, including the TDS certificate, while filing ITR 5. If any papers are attached, they will be removed and returned to the individual who filed the return.

FAQ

Is a balance sheet necessary for the Mumbai ITR 5 filing?

If the account is going to be audited, the reported balance sheet figures must match the audited balance sheet. Other activities that are not audited in the books of account are not required to be included in the balance sheet.

Is there any annexure that must be filed with ITR 5 in Mumbai?

There is no need to file an annexure while filing an ITR 5.

Is a balance sheet required for submitting ITR 5 in Mumbai?

When submitting an ITR 5 , the reported balance sheet figures must match the audited balance sheet if the accounts are needed to be audited. Any additional activities must be recorded on the balance sheet.

How can I submit an ITR 5 in Mumbai without going online?

Both online and offline ITR 5 filings are available. ITR 5 filings are completed offline by submitting physical returns or providing the BAE code.

In Mumbai, how do you submit an ITR 5?

ITR 5 filings may be done online by electronically submitting the return and signing it with a digital signature. How to file Income Tax Return ITR 5 Form Filing in Mumbai.