Good morning, good evening, good afternoon.
Whoever is watching me, a hearty welcome.
A hearty welcome.
Friends, how are you all?
Are you having fun?
Are you enjoying your life?
Friends, we have covered four forms of ITR.
ITR 1, 2, 3, 4.
Today, I want to talk to you about ITR 5.
Who all are applicable for ITR 5?
Who all are eligible for ITR 5?
Who all have to file ITR 5 compulsorily?
Friends, ITR 5 is applicable for partnership firms,
LLPs, AOPs, Artificial Juridical Persons,
Individuals, and HUFs.
Let's go to the portal.
I want you to go to the portal and download the ITR 5
utility kit.
Let me back you up.
One moment please.
You will go to the utility, right?
The utility has opened up.
You have installed this utility.
This is the ITR 5 utility, friends.
This is not the ITR 1 to 4 utility.
This is the ITR 5 utility.
You have to download and install it.
After that, it will redirect you to a portal which will
give you two options.
Before giving you the option, it will ask you if you are an
eligible SSE.
Are you an eligible SSE who wants to file ITR-5?
You will ask him, who is an eligible SSE?
Who is that eligible SSE?
If you are an eligible SSE who wants to file ITR-5, it will
give you the answer.
In the category of eligible SSE, we have individuals, HUF,
some companies, etc.
Let me show you how to do it.
Let me insert my pen.
I am using my pen in ITR-5 as well.
I hope that I will get a call from the Income Tax
Department.
They will ask me, what kind of a person are you?
You have filled all the forms from ITR-1 to ITR-7.
You are a company, a partnership firm.
You show your income in 44AD as well.
What kind of a person are you?
Are you an eligible SSE?
I will say, I am a master.
My server is not working.
I will keep trying.
As I told you, those who try never fail.
I will insert my password.
It is saying, invalid password.
I will insert my password again.
Because those who try never fail.
If I give up, what will I teach you?
As I told you, those who try never fail.
Even I did not fail.
My profile has opened.
My name is here.
Pen number is here.
I will return the file.
As I told you, it is about ITR-5.
I downloaded the utility of ITR-5.
After downloading the utility,
I told you that there are some eligible SSEs.
Those who want to file ITR-5 mandatorily.
Who are they?
They are not individuals.
They are not HUF.
So, who is left?
Our partnership firms are left.
Limited liability partnership firms.
Association of persons.
Juridical persons.
See, click on others.
So, the portal automatically blocked them.
Individual and HUF.
Automatically blocked the option.
Individual and HUF cannot come in this category.
If I select others, then local authority, partnership firm,
artificial juridical persons, LLP, etc.
For example, I will go according to partnership.
I will continue.
Now, when I continue, it asks me two things.
Can you see?
For persons other than individual, other than HUF and other
than company.
You tell me.
It asks you two options.
It asks you,
I know which schedules are applicable to me.
It wants to ask you, are you aware that in future, in the
next step, which schedules will be applicable to you?
Do you know about this?
Which schedules will be applicable to you?
By schedule, I mean balance sheet schedule.
By schedule, I mean
P&L account schedule.
Manufacturing account schedule.
Broad forward losses schedule.
Depreciation schedule.
It will give you a list.
From that list, you have to select some things.
For example, let me show you.
Let's get started.
See, this is the schedule.
It is telling you to select whatever you want.
Selecting from the schedules.
General is mandatory.
So, it doesn't matter whether you select or not.
But, the schedules that are coming here,
you have to select them.
For example, the business schedules are coming here.
You have to select something from them.
Balance sheet schedule, manufacturing account, whatever you
select, tick it.
Whatever you don't want to select, tick it off.
For example, scientific research expenses,
I want to select it, I ticked it off.
Income, I want to show house property income,
I ticked it off.
Partnership firm income,
I ticked it off.
I want to show schedule.
I will continue.
See, these schedules will be created.
This is the thing, friends.
Yes, you could have another option.
Suppose, a kid is asking me,
Sir, let's say,
I select another option.
I don't know which schedules are being applicable on me.
I don't know.
What will happen if I choose the second option?
Nothing will happen. Don't worry.
It will give you a list of questions.
You have to answer those questions either in yes or no.
For example, you are a non-resident.
You say no.
None of the above.
And on the basis of these questions, on the basis of these
questions, the result of these questions, whatever answer
you give, according to that, your schedules will be
prepared in front of you, friends.
This is the point.
See, questions after questions, your schedules will be
prepared in front of you.
These are the things, friends.