ITR-5 form is an auto-generated form that generates when one file online income tax return with ITR-1, ITR-2 or ITR-4 forms. This form generates only for the persons defined under the section 2(31) (vii) in the Income Tax Act 1995. Any person that uses ITR-1, ITR-2 or ITR-4 forms to file tax return online but falls under the section 139(4A) or 139(4B) or 139(4C) or 139(4D) need not to use this ITR-5 form. This form is designed for LLPs, AOP, BOI, firms and artificial Juridical persons. So, what to do next after the form generates after one has filed return with the above-mentioned forms.
The next step:
When the ITR-5 form generates after online income tax return, the person required to print this form out. To print it out, the form need to be downloaded first when the soft-cope generates on screen. The printout must be taken out in a A4 sheet with clearly visible bar code and bar number. This tax return online form should be filled and signed with a blue-ink and the TRP place need to be left blank. No other documents such as annexure, pre-stamped envelopes or cover letter need to attached with this form. If two forms are need to be send for last two year’s report than the two forms must be printed in two separate sheets.
The online income tax return form ITR-5need to be opened with a password which is combination of your PAN card number and date of birth to fill it in. Once the form has been filled and signed with necessary information, it need to be sent out to the income tax department. This tax return online form should not be fold by any chance and must reach IT department within 120 days from the date of uploading the ITR form.
The form must be put into a A4 size cover envelop and need to be sent to the IT department via normal or speed post available from Indian Postal Services. The address where this online income tax return form need to be sent is:
Income tax department – CPC
P.O. Box No: 1
Electronic City Post Office
Bangalore, Karnataka -560100
After sending it via prescribed postal orders, one must track it online to make sure that it reached to the IT department in scheduled time. Once IT department receives this copy of tax return online form, an acknowledgement message will be sent to the tax payer’s mobile number and email ID. And once the form has been accepted by the department, an acceptance copy will be sent to the tax payer’s registered email ID in a PDF format.
Why procedures are so specific?
Any mistake or error in filing this form and sending this form outside the prescribed procedure will make it get rejected by the department. If the form filled with accurate information and sent to department in the above-mentioned procedure than it will never get rejected. Yet by any chance if the form get rejected than another copy of this online income tax return form with correct information need to be sent according to the correct prescribed procedure.
Source : https://www.evernote.com/shard/s324/sh/f56bfec9-ae09-4249-9c48-db3f2ea8781f/52319df195cbd0d142353c281afab061
Also Read : To Re-Issue Income Tax Refund Through Online Requesting System
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