ITR-6 RETURN FILING
| Basic | Advance |
|---|---|
| ✔ ITR with Computation | ✔ ITR with Computation |
| ✔ Financials with CA sign | |
| ✔ Professional Consultancy |
ITR 6 Filing in India
ITR-6 Return Filing in India
Welcome to Bharat Filing Point! Your one-stop solution for all your business setup and registration needs in India. Today, we’re discussing ITR-6 return filing, a crucial compliance requirement for corporate entities.
Overview of ITR-6 Return Filing
The ITR-6 form is designed for companies, excluding those claiming exemptions under Section 11 (income from property held for charitable or religious purposes). Filing the ITR-6 accurately and on time is essential to ensure compliance with the Income Tax Act 1961, avoiding penalties, and maintaining smooth business operations.
Eligibility Criteria
Who is Eligible?
- Companies not claiming exemptions under Section 11.
- Firms, LLPs, and other entities required to submit ITR under the Income Tax Act.
- Entities deriving income from property held under a trust for charitable or religious purposes (Section 139(4A)).
- Representatives of people required to file ITR under Section 139(4B).
- Political parties required to file ITR under Section 139(4C).
- Entities with income from voluntary contributions required to file ITR under Section 139(4D).
Who is Not Eligible?
- Individuals
- Hindu Undivided Families (HUF)
- Firms
- Associations of Persons (AOP)
- Bodies of Individuals (BOI)
- Local Authorities
- Artificial Judicial Persons
- Companies seeking exemption under Section 11
Required Documents
Before you begin filing your ITR-6, ensure you have the following documents ready:
- Audited financial statements (balance sheet, profit and loss account, and other financial statements).
- Previous year’s ITR-V acknowledgment, if applicable.
- Details of tax deducted at source (TDS) and tax collected at source (TCS), if any.
- Details of advance tax and self-assessment tax, if paid.
- PAN and Aadhaar card details of the taxpayer.
- Bank statements and passbooks for the financial year under consideration.
- Details of all assets and liabilities.
- Records of any other income, if applicable.
Structure of ITR-6 Form
The ITR-6 form is divided into several sections and schedules to cover various aspects of a company’s financials:
Section A (and its subsections)
- General Information: Basic details of the entity such as Name, PAN, address, CIN, incorporation date, etc.
- Trading Account: Income and expenditure details.
- Balance Sheet: Details of liabilities, current liabilities, share capital, etc.
- Manufacturing Account: Figures related to stock and cost of goods produced.
- Profit and Loss Account: Company’s profit or loss details for the financial year.
Part B (and its subsections)
- Part B-TI: Computation of Total Income.
- Part B-TTI: Computation of Tax Liability of the Total Income.
Schedules
- Bank account details
- Schedule-HP: Income from House Property
- Schedule-BP: Profit and gains from business and profession
- Schedule-DPM: Depreciation on plant & machinery
- Schedule-DOA: Summary of depreciation on all assets
- Schedule-DCG: Deemed capital gain on sale of depreciable assets
- Schedule-ESR: Deductions u/s 35 (scientific research expenditure)
- Schedule-CG: Income under the head “Capital gains”
- Schedule-OS: Income from other sources
- Schedule-CYLA: Income after setting off the current year’s loss
- Schedule-BFLA: Income after setting off the unabsorbed loss of the previous year
- Schedule-CFL: Statement of loss for carrying forward
- Schedule-UD: Statements of unabsorbed depreciation and allowance
- Schedule-ICDS: Income computation disclosure standards on profit
- Schedule-10AA: Deductions u/s 10AA
- Schedule-80G: Details of deduction u/s 80G (donations)
- Schedule-80GGA: Statement of donations for scientific research and rural development
- Schedule-VIA: Statement of deductions from total income under chapter VI-A
- Schedule-SI: Details of income chargeable at special tax rates
- Schedule-PTI: Passing through income from business trust or investment fund
- Schedule-EI: Statement of exempted incomes
- Schedule-MAT: Tax payable u/s 115JB (Minimum Alternate Tax)
- Schedule-DDT: Tax paid on dividend (dividend distribution tax)
- Schedule-BBS: Tax distributed income on buyback of shares
- Schedule-ESI: Foreign incomes and tax relief
- Schedule-IT: Advance-tax paid and self-assessment tax
- Schedule-TDS: TDS on incomes other than salaries
- Schedule-TCS: Tax collected at source
- Schedule-FSI: Income accruing outside India
- Schedule-TR: Tax relief claimed for foreign tax paid
- Schedule-FA: Details of foreign assets and foreign income
- Schedule-SH1: Shareholding of an unlisted company
- Schedule-SH2: Shareholding of start-ups
- Schedule-AL1: Assets and liabilities at the end of the year
- Schedule-GST: Turnover reported for GST
- Schedule-FD: Payment/receipt made in foreign currency
Filing Deadlines
- When records are subject to audit under the Income Tax Act: October 31st of the assessment year.
- When reporting in Form No. 3CEB is required: November 30th of the assessment year.
- In all other cases (where records don’t need auditing): July 31st of the assessment year.
How Bharat Filing Point Simplifies the ITR-6 Filing Process
Bharat Filing Point is a trustworthy online platform known for its tax and compliance services expertise. Here’s how we simplify the ITR-6 filing process:
Expert Guidance
We provide expert guidance and support throughout the ITR-6 filing process, ensuring you accurately report your financial information and claim all eligible deductions.
Easy Online Filing
Our user-friendly online portal simplifies the ITR-6 filing process. Securely upload your financial data and documents, making the process convenient and paperless.
Compliance Verification
We ensure that your ITR-6 is filed in compliance with the latest tax regulations, minimizing the risk of errors and penalties.
Timely Filing
We help you meet deadlines and file your returns on time, ensuring you stay on the right side of the law.
Personalized Assistance
Our tax experts offer personalized assistance, addressing your questions and concerns to make the ITR-6 filing process smoother.
Contact Us
Do you have questions about how we can help your company? Send us an email, and we’ll get in touch shortly.
Mail: info@bharatfilingpoint.com
Website: www.bharatfilingpoint.com
Experience the convenience of seamless tax compliance with Bharat Filing Point!
Documents Required For ITR-1 vs ITR-2 vs ITR-3 vs ITR-4 vs ITR-5 vs ITR-6 & ITR-7 Return Filing
| FEATURES | ITR-1 | ITR-2 | ITR-3 | ITR-4 | ITR-5 | ITR-6 | ITR-7 |
|---|---|---|---|---|---|---|---|
| DOCUMENTS | Form 16, Bank Statement, Details of Other Income, Home Loan Repayment Schedule, Rental Receipts, Donation Receipts, Insurance Payments, Mutual Fund Investments, Medical Bills, School / College Bills, Salary Slips | Form 16, Bank Statement, Details of Other Income, Home Loan Repayment Schedule, Rental Receipts, Donation Receipts, Insurance Payments, Mutual Fund Investments, Medical Bills, School / College Bills, Salary Slips | Form 16 / Salary Slips (in case of income from salary), Rental Agreement, if any, Proof of Rental Income if any, Proof of Investments to claim Tax Exemption, Form 26AS, Monthly Purchase Bill, Monthly Sales Bill, Sales Return Details, Purchase Return Details, Tax Paid Challans for GST, Day to day Administration expenses and General expenses details, Fixed Assets Invoice Copy (if Applicable), Investment details made by Cash, Investment details made through Bank, Proof of Source of Cash In-flow and Cash Out-flow, Outstanding receivables and payables, Bank Statement, Break-up of Bank Statement, Loan Details from bank, Proof of Foreign Income (if applicable), Details of Foreign Assets (if applicable). | Bank Statement, PAN Card, Aadhar Card, Aadhaar card of the authorized signatory | Monthly Purchase Bill, Monthly Sales Bill, Sales Return Details, Purchase Return Details, Tax Paid Challans for GST, From 26AS, Day to day Administration expenses and General expenses details, Rental Agreement (if applicable), Fixed Assets Invoice Copy (if Applicable), Investment details made by Cash, Investment details made through Bank, Proof of Source of Cash In-flow and Cash Out-flowk, Loan details from Bank or Third Party, Outstanding receivables and payables, Company's Pan and two DSCs, Details of Bank used for business transactions (Acct No, IFSC Code), Statement from Bank used for business transactions, Break-up of statement from Bank used for business transactions. | Monthly Purchase Bill, Monthly Sales Bill, Sales Return Details, Purchase Return Details, Tax Paid Challans for GST, From 26AS, Day to day Administration expenses and General expenses details, Rental Agreement (if applicable), Fixed Assets Invoice Copy (if Applicable), Investment details made by Cash, Investment details made through Bank, Proof of Source of Cash In-flow and Cash Out-flow, Loan details from Bank or Third Party, Outstanding receivables and payables, Company's Pan and two DSCs, Details of Bank used for business transactions (Acct No, IFSC Code), Statement from Bank used for business transactions, Break-up of statement from Bank used for business transactions. | Statement from Bank, Incorporation Certificate, Certificate of incorporation provided by the Foreign Government. |
| Registration Time | 7-9 working days | 7-9 working days | 7-9 working days | 7-9 working days |
Documents Required for ITR-6 Return Filing in India
To file an ITR-6 return in India, the following documents are typically required:
- PAN Card: Permanent Account Number (PAN) is required for filing an income tax return.
- Audited Financial Statements: Companies must provide audited financial statements, including a balance sheet, profit and loss statement, and cash flow statement.
- Auditor’s Report: If applicable, the auditor’s report must be submitted along with the financial statements.
- Details of Shareholding: Information about the company’s shareholding, including details of shareholders, share capital, and securities premium.
- Tax Deducted at Source (TDS) Certificates: TDS certificates related to the company’s income and taxes withheld must be submitted.
- Advance Tax Payments: Details of advance tax payments made during the financial year must be provided.
- Self-Assessment Tax: Information about the self-assessment tax paid during the financial year must be submitted.
- GST Information: If applicable, details of turnover/gross receipts reported for GST must be provided.
- Foreign Assets and Income: Information about foreign assets and income, if any, must be disclosed.
It is important to note that no documents are required to be attached while filing ITR-6. However, it is advisable to keep all relevant documents safe for 7 years in case of any in-depth scrutiny by the income tax department.
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ITR-6 Return Filing FAQ’s
What is ITR-6 Structure?
Who is expected to record ITR-6?
What is the due date for recording ITR-6?
The due date differs relying upon specific variables:
- Assuming the organization’s records are evaluated under the Personal Assessment Act, the due date is October 31st.
- On the off chance that the organization is expected to outfit a report in Structure No. 3CEB, the due date is November 30th.
- In any remaining situations where records don’t need examining, the due date is July 31st.
Is it compulsory to electronically record ITR-6?
Indeed, it is required to electronically document ITR-6. Paper recording isn’t considered organizations.
What are the outcomes of not documenting ITR-6 on time?
Late documenting can prompt punishments and interest charges on the exceptional expense obligation.
Might I at any point record an overhauled ITR-6?
Indeed, you can document a modified ITR-6 inside the predetermined time cutoff to address any mistakes or exclusions.
Are the records' expectation's to document ITR-6?
To record ITR-6, you want reports, for example, fiscal summaries, monetary record, benefit and misfortune articulation, and Tax break Proclamation (Structure 26AS).
How is the duty determined for organizations utilizing ITR-6?
Charge is determined in light of the relevant expense rates and the organization’s available pay, according to the arrangements of the Personal Duty Act.
Could unfamiliar organizations working in India document ITR-6?
Indeed, unfamiliar organizations directing business exercises in India can record ITR-6 in the event that they don’t meet all requirements for exception under area 11.
Are there any exceptions accessible under ITR-6?
Organizations that guarantee exclusion under segment 11 (Pay got from property held for altruistic or strict intentions) are not qualified to record ITR-6.
ITR-6 Return Filing in State
ITR-6 Return In Assam
ITR-6 Return In Jammu And Kashmir
ITR-6 Return In Andhra Pradesh
ITR-6 Return In Assam
ITR-6 Return In Jammu And Kashmir
ITR-6 Return In Delhi
ITR-6 Return In Telangana
ITR-6 Return In West Bengal
ITR-6 Return In Kerala
ITR-6 Return In Goa
ITR-6 Return In Bihar
ITR-6 Return In Puducherry
ITR-6 Return In Himachal Pradesh
ITR-6 Return In Arunachal Pradesh
ITR-6 Return In Manipur
ITR-6 Return In Meghalaya
ITR-6 Return In Mizoram
ITR-6 Return In Nagaland
ITR-6 Return In Sikkim
ITR-6 Return In Tripura
ITR-6 Return In Lakshadweep
