The Income Tax Department has released ITR-5 Excel Utility, an offline tool for taxpayers for the assessment year (AY) 2026-27. Following the release, the eligible taxpayers can prepare their returns offline, validate the details, generate the required JSON file and upload it on the Income Tax e-filing portal to submit their returns.

This article explains who needs to file ITR-5, the latest updates, how the form is structured, how to file it online, and the common mistakes entities should avoid while filing ITR in 2026.

What is ITR-5 and Who Needs to File It?

ITR-5 is one of the Income Tax Return (ITR) forms meant for eligible non-individual entities that are not companies. ITR-5 applies to partnership firms, Limited Liability Partnerships (LLPs), Associations of Persons (AOPs), Bodies of Individuals (BOIs), cooperative societies, local authorities, Artificial Juridical Persons (AJPs) and business or investment funds and the estates of deceased or insolvent persons.

It also applies to other eligible entities that are not required to file returns under ITR-7. Individual taxpayers do not use ITR-5.

Different types of eligible entities use ITR-5, it contains several parts and schedules. Only the sections and schedules applicable to the entity and its sources of income need to be completed.

What are the Latest Changes in ITR-5 for AY 2026-27?

The Income Tax Department has made a few updates to ITR-5 for AY 2026-27. Some of the important changes include:

• A secondary address field has been added, allowing taxpayers to provide an additional address for communication
• The capital gains reporting requirement has been simplified by removing the need to report gains separately based on the changes introduced on 23 July 2024
• Representative assessees need to provide updated details, where applicable
• The ITR-5 Excel Utility has been released, allowing eligible entities to prepare their return offline, generate a JSON file, and upload it to the Income Tax e-Filing portal

What is the ITR-5 Excel Utility?

The ITR-5 Excel Utility is an offline tool released by the Income Tax Department to help eligible entities prepare and verify their income tax return. Instead of entering all the details directly on the e-Filing portal, taxpayers can download the utility, fill in the applicable parts and schedules, validate the information, and generate a JSON file for upload to the portal.

Some of the Key Features of the ITR-5 Excel Utility Include:

• Allows eligible entities to prepare the returns offline
• Performs basic validation checks to identify errors or missing information
• Generates a JSON file that can be uploaded to the Income Tax e-Filing portal
• Helps save progress, making it easier to complete lengthy returns over multiple sessions

The Excel Utility is optional, taxpayers can also file ITR-5 directly through the Income Tax e-Filing portal, where available.

Who Cannot File ITR-5?

Individuals, companies, and certain other entities covered under specific provisions of the Income-tax Act cannot file ITR-5.

You cannot file ITR-5 if you are:

• Individuals (generally file ITR-1, ITR-2, ITR-3, or ITR-4, as applicable)
• Hindu Undivided Families (HUFs) (generally file ITR-2, ITR-3, or ITR-4, as applicable)
• Companies (generally file ITR-6 or ITR-7, as applicable)
• Persons required to file returns under Section 139(4A) (generally file ITR-7) – Trusts and institutions earning income from property held for charitable or religious purposes
• Persons required to file returns under Section 139(4B) (generally file ITR-7) – Political parties
• Persons required to file returns under Section 139(4C) (generally file ITR-7) – Certain research associations, news agencies, educational institutions, hospitals, universities, colleges, and other specified institutions
• Persons required to file returns under Section 139(4D) (generally file ITR-7) – Universities, colleges, and certain other institutions required to furnish a return under the Income-tax Act

What Does the ITR-5 Form Include?

The ITR-5 form is divided into Part A, Part B, and several schedules. Each section collects a specific set of details required to compute your taxable income and tax liability.

What Documents and Information are Required to File ITR-5?

To file ITR-5, eligible entities should have the following documents and information ready to make the filing process quicker and help reduce errors.

• PAN of the entity
• Aadhaar details of the authorised signatory, where applicable
• Financial statements, including the Balance Sheet and Profit & Loss Account for the financial year, details on assets the entity owns
• Books of account and supporting records, if maintained
• Tax audit report, if the entity is liable for audit under Section 44AB or any other applicable provision
• Details of business income, capital gains, house property income, and income from other sources, if applicable
• Details of deductions and exemptions claimed under the Income-tax Act
• TDS and TCS certificates, wherever applicable
• Advance tax and self-assessment tax payment details
• Bank account details, including the account selected for receiving a refund
• Details of brought forward losses, depreciation, and carried forward losses, if applicable
• Partner, member, trustee, or representative assessee details, wherever required by the form
• Supporting details for investments, assets, or other disclosures, if applicable to the entity

How to File ITR-5 Online?

Eligible entities can file ITR-5 online through the Income Tax Department's e-filing portal. Before you begin, ensure you have all the required documents and information ready.

Steps to File ITR-5:

• Visit the Income Tax e-filing portal and log in using your credentials
• Navigate to e-File > Income Tax Return and select the relevant Assessment Year
• Select ITR-5 as the applicable return form
• Fill in the applicable parts and schedules based on your entity type, income, deductions, and tax details
• Review the information entered and correct any errors highlighted by the validation checks
• Submit the return after confirming all details
• e-Verify the return using Digital Signature Certificate (DSC), Electronic Verification Code (EVC), or any other applicable verification method. If electronic verification is not completed, send the signed ITR-V to the Centralised Processing Centre (CPC), Bengaluru, within the prescribed time limit, where applicable

Should You File ITR-5 Under the Income-tax Act, 1961 or the Income-tax Act, 2025?

Although the Income-tax Act, 2025 has been enacted, the notified ITR-5 form for this assessment year continues to use the section numbers, forms, and terminology under the 1961 Act.

The Income-tax Act, 2025 and the Income-tax Rules, 2026 apply to the new tax framework from Tax Year 2026-27 onwards.

What are the Due Dates for Filing ITR for AY 2026-27?

The due date for filing ITR-5 depends on the type of entity and the applicable compliance requirements.

For AY 2026-27, the Important Tax Filing Deadlines Are:

• 31 July 2026 – For eligible entities where no account audit is required
• 31 August 2026 – For business/profession where no account audit is required
• 31 October 2026 – For entities required to get their accounts audited
• 30 November 2026 – For entities required to furnish a transfer pricing report under Section 92E
• 31 December 2026 – Last date to file a belated return, if you miss the original due date
• 31 March 2027 – Last date to file a revised return to correct any mistakes or omissions in the original return

Note: If there is an extension in the due dates, the Central Board of Direct Taxes (CBDT) will issue them through a notification or circular. Always check the latest announcements before filing your return.

Final Thoughts

Choosing the correct ITR form is the first step towards accurate tax filing, and ITR-5 is meant for a specific group of non-individual entities. Filing the return with the right information and within the prescribed due date can help avoid unnecessary notices, delays, and additional compliance. If you're unsure about any part of the process, consulting a tax professional can help ensure your return is filed correctly.

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