The bodies have been shifted to the local government hospital for post-mortem.
Five persons of a family, including a five-year-old boy, allegedly committed suicide by shooting themselves in Karnataka on Friday, said police.
The family from Tumkur was living in a lodge in Mysore, 145 km away from state capital Bengaluru.
Omkar, 38, his wife Nikita, 28, and their son were found dead in the lodge. The other two who died were Mr Omkar's mother Varsha Hema, 55, and their relative Varsha Bhattacharya, 30.
Police said prima facie it appears the family committed suicide due to severe burden of debt. Mr Omkar had recently started a data-based company which suffered major losses.
The bodies have been shifted to the local government hospital for post-mortem.