ITR-6 Return Filing

Fulfilling the annual compliance requirement for corporate entities in India, ITR-6 filing is a critical task. The Income Tax Return form is specifically tailored for companies, excluding those seeking exemption under section 11 (Income from property held for charitable or religious purposes). Timely and accurate filing of ITR-6 is paramount to adhere to the provisions of the Income Tax Act 1961, preventing penalties and legal complications.

Speed Filings, your dedicated financial partner, offers comprehensive services designed to streamline the ITR-6 filing process. Tailored to meet the specific needs of corporate entities, our services aim to simplify tax obligations and ensure compliance.

Who Can File ITR-6 Form?

ITR-6 is applicable to companies not seeking exemption under section 11 (Income from property held for charitable or religious purposes).

Who Are Not Eligible to File ITR-6 Form?

Taxpayers exempt from filing ITR-6 include individuals, Hindu Undivided Families (HUFs), firms, Associations of Persons (AOPs), Bodies of Individuals (BOIs), Local Authorities, Artificial Judicial Persons, and companies seeking exemption under section 11 of the Income Tax Act.

Eligibility Criteria for Filing ITR-6 Form

Companies registered under the Companies Act or any applicable law can file the ITR-6 Form, even if they do not claim exemption under section 11.

E-filing Audit Reports

When subject to an audit under section 44AB, it is mandatory to furnish electronic details of the audit report, including auditor information and submission date.

Structure of ITR 6 Form

ITR-6 is divided into Part A and Part B, each with subsections and schedules capturing vital information related to the taxpayer’s income and tax obligations.

Part A (and its subsections)

• General Information: Basic details of the entity, such as Name, PAN number, address, CIN, Incorporation date, etc.
• Trading Account: Relevant details concerning the income and expenditure of the company.
• Balance Sheet: Details of the company’s balance sheet, including liabilities, current liabilities, share capital, and more.
• Manufacturing Account: Figures related to manufacturing accounts, including opening stock, closing stock, and the cost of goods produced.
• Profit and Loss Account: Details of the company’s profit or loss incurred during the relevant financial year.

Speed Filings is committed to simplifying your ITR-6 filing experience, ensuring accuracy and compliance. Partner with us for a seamless approach to corporate tax obligations.

Section B, inclusive of its subsections:

Schedules	Purpose
Bank account details	For providing banking information
Schedule –HP	Computing incomes under the head “Income from House Property”
Schedule –BP	Computing incomes under the head “Profit and Gains from Business and Profession”
Schedule –DPM	Calculating depreciation on plant & machinery
Schedule –DOA	Summary of depreciation on all assets
Schedule –DCG	Calculating deemed capital gain on sale of depreciable assets
Schedule –ESR	Deductions under section 35, i.e., expenditure on scientific research
Schedule –CG	Calculating income under the head “Capital Gains”
Schedule –OS	Calculating income from other sources
Schedule –CYLA	Calculating income after setting off the current year’s loss
Schedule –BFLA	Calculation of income after setting off unabsorbed loss of the previous year
Schedule –CFL	Statement of loss for carrying forward to a further year
Schedule –UD	Statements of unabsorbed depreciation and allowance
Schedule –ICDS	Income Computation Disclosure Standards on profit
Schedule –10AA	Deductions under section 10AA
Schedule –80G	Details of deduction under section 80G relating to donations
Schedule –80 GGA	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	Details relating to passing through income from business trust or investment fund
Schedule –EI	Statement of exempted incomes
Schedule –MAT	Details of tax payable under section 115JB (Minimum Alternate Tax)
Schedule –DDT	Statement of tax paid on dividend, i.e., “Dividend Distribution Tax”
Schedule –BBS	Details of tax distributed income on buyback of shares
Schedule –ESI	Statement of foreign incomes and tax relief thereto
Schedule –IT	Statement of foreign incomes and tax relief thereto
Schedule –TDS	Details of TDS on incomes other than salaries
Schedule –TCS	Statement of TCS (Tax collected at source)
Schedule –FSI	Statement of income accruing outside India
Schedule –TR	Details of tax relief claimed for foreign tax paid
Schedule –FA	Complete details of foreign assets and foreign income
Schedule –SH1	Details of shareholding of an unlisted company
Schedule –SH2	Details of shareholding of start-ups
Schedule –AL1	Statement of assets and liabilities at the end of the year
Schedule –GST	Statement of turnover reported for GST
Schedule –FD	Details of payment/receipt made in foreign currency

ITR-6 Deadline

• Audited Accounts: October 31st of the assessment year.
• Form No. 3CEB Reporting: November 30th of the assessment year.
• Other Cases (No Auditing): July 31st of the assessment year.

How to File ITR-6 Form?

Follow the Income Tax Department’s recommended sequence for a systematic and error-free filing:

1. Part A
2. Schedules
3. Part B
4. Verification

No Documents Required

Effortless filing – no annexure or documents need to be attached. Reconcile taxes using Tax Credit Statement Form 26AS.

SpeedFilings: Your ITR-6 Solution

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• Timely Filing: Avoid penalties by meeting deadlines with SpeedFilings.
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