ITR 6 is the Income Tax Return form specifically designed for companies, excluding those claiming an exemption under Section 11 of the Income Tax Act.

Who needs to file ITR 6?

All companies registered under the Companies Act of 2013 or the Companies Act of 1956, except those claiming exemption under Section 11, are required to file ITR 6.

What is the due date for filing ITR 6?

The due date for filing ITR 6 is October 31st of the assessment year. If transfer pricing is involved, the due date is November 30th.

What documents are required for filing ITR 6?

No annexures or documents need to be attached when filing ITR 6, but it’s important to reconcile taxes deducted, collected, or paid by comparing with Form 26AS.

What are the consequences of filing ITR 6 late?

Late filing incurs a fee under Section 234F and may attract interest charges on outstanding tax liabilities under Sections 234A, 234B, and 234C.

Can a company carry forward its losses by filing ITR 6 on time?

Yes, timely filing allows companies to carry forward business losses for up to 8 subsequent assessment years.

Who is not eligible to file ITR 6?

Individuals, Hindu Undivided Families (HUF), firms, associations of persons (AOP), bodies of individuals (BOI), local authorities, and companies seeking exemption under Section 11 are not eligible to file ITR 6.

What are the key sections of ITR 6?

ITR 6 includes Part A (General Information, Trading Account, Balance Sheet, Manufacturing Account, Profit and Loss Account) and Part B (Computation of Total Income and Tax Liability).

What should I do if my company’s sales exceed Rs 1 crore?

If your company’s total sales exceed Rs 1 crore, you are required to complete a tax audit under Section 44AB.

What happens if I fail to file ITR 6 by the due date?

Failing to file by the due date may result in penalties, loss of the ability to carry forward losses, and increased scrutiny from tax authorities.

Is there any fee for filing ITR 6?

While there is no fee for filing ITR 6 itself, penalties may apply for late filing under Section 234F.

Can I amend my ITR 6 after filing?

Yes, you can file a revised return to correct any errors or omissions in your original ITR 6 within the specified time frame.

How can I ensure accuracy when filing ITR 6?

Double-check all information entered in the form, reconcile figures with your accounting records, and ensure compliance with the Income Tax Act.

What is the role of a Chartered Accountant in filing ITR 6?

A Chartered Accountant can assist in preparing the ITR 6, conducting audits if required, and ensuring compliance with tax laws.

How do I e-file ITR 6?

Log in to the Income Tax Portal, navigate to the 'e-Filing' section, select 'Income Tax Returns,' and choose ITR Form 6 for filing.

How long does it take to process ITR 6?

The processing time may vary, but typically, it takes a few weeks to a couple of months, depending on the complexity of the return and the workload of the tax department.

Will I receive an acknowledgment after filing ITR 6?

Yes, after successful submission, you will receive an acknowledgment receipt (ITR-V) for your records.

Can I claim tax deductions while filing ITR 6?

Yes, companies can claim eligible tax deductions as per the provisions of the Income Tax Act while filing ITR 6.

What should I do if I have international transactions?

If your company engages in international transactions, ensure compliance with transfer pricing regulations and file ITR 6 accordingly.

How can IndiaFilings assist with ITR 6 filing?

IndiaFilings provides expert guidance, helps in preparing and filing ITR 6 accurately, and ensures compliance with tax regulations, allowing businesses to focus on their core operations.

Itr 6 Form In Ghaziabad

Companies registers under the Companies Act 2013 or Companies Act 1956 irrespective of the structure are required to file ITR 6 returns in Ghaziabad. But for the companies with income coming from a charitable or religious organization are not required to file ITR 6 returns in Ghaziabad as they are exempted under Section 11.

Structure of ITR 6 return filing in Ghaziabad:

ITR 6 Form is divided into two parts Part A and Part B with multiple schedules that include information which is related to income and the tax of the assessee.

Part A and its subsections

General information

Here the basic details of the firm such as the name, PAN number, CIN, Incorporation date should be mentioned.

Trading Account

This Sub-section requires details regarding the income and expenditure of the Company.

Balance sheet

In this subsection details regarding the balance sheet of the company such as the liabilities, current liabilities, share capital, and more is required

Manufacturing Account

This sub-section requires the figures related to manufacturing accounts relating to inventory such as opening stock, closing stock, and cost of goods that are produced.

Profit and Loss Account

This Subsection is to be filled details relating to the profits of the Company or the incurred loss during the relevant financial year.

Part B and its subsections

Part B - TI

Computation of the Total Income

Part B - TTI

Computation of the tax liability of the Total Income.

There are various schedules, you can click here to know more.

What is the correct sequence to file ITR 6?

ITR 6 Should be filed in the following sequence:

Part A
Schedules
Part B
Verification

ITR 6 filing in Ghaziabad is completely an online process and has to be furnished electronically using the Digitial Signature certificate of the assessee.

Itr 6 Form In Ghaziabad FAQ's

Section 139 (5) of the income tax act states that in case a mistake is made while filing ITR 6 in Ghaziabad it can be corrected by filing the revised ITR.

The ITR 6 form filing in Ghaziabad is to be completely furnished electronically using the digital signature.

There is no such requirement to attach any annexures while filing ITR 6 form in Ghaziabad, But the taxpayers are advised to match the taxes that are deducted, collection or paid.

No, it is not compulsory to get the accounts audited but in case the assessee is liable to get the auditing done under section 44AB and the details of the audit report along with the furnishing fate have to be provided.

Itr 6 Form In Ghaziabad

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