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flag India's tax department releases new ITR-5 form, adding sections for MSMEs, startups, and digital assets.

flag The Indian Income Tax Department has released the ITR-5 Excel form for the 2024-25 assessment year, allowing entities like LLPs, partnership firms, and cooperative societies to file their annual tax returns. flag The updated form includes new sections for MSME registrations and startup deductions, as well as expanded reporting for virtual digital assets like crypto and NFTs. flag Filing can be done online or offline, with deadlines of July 31 for non-audited entities and October 31 for audited accounts.

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