Income Tax Return - Filing Form ITR-6

Every Indian Resident with any source of income is required to pay tax to the government in the form of Income Tax. The government imposes tax on every entity such as individuals, HUFs, Companies, LLPs, Association of Person, Body of Individuals, and any artificial judicial person. Income Tax Return is the form filed to furnish the information to the government about Income incurred along with tax liability. The form filed would vary depending upon the type of entity filing the return.

Applicability to file ITR-6

Every Company irrespective of its structure registered under the Companies Act 2013 or earlier under the Companies Act, 1956, shall file Income Tax Return through form ITR-6. However, those companies whose income is from the charitable or religious organization are not required to file Form ITR-6 (exempt under Section 11).

The taxpayer liable to file Form ITR-6 must obtain an audit report under Section 44-AB. As per section 44-AB, an entity whose sales, turnover, or gross receipt exceed INR 1 Crore in the preceding financial year must compulsorily get its accounts audited from a Chartered Accountant.

Procedure to fill out ITR-6

The following is a convenient sequence for filing Form ITR-6:

This income tax return is a complete online form and has to be furnished electronically by affixing the DSC of the assessee. While filling ITR-6, no document is required to be attached with return. It is advisable for the taxpayers to tally the data with their Tax Credit Statement Form 26 AS about tax deducted, collected, and paid by them.

Who all cannot file Form ITR-6?

This form is not filed by the following taxpayers:

  • Firms
  • Individual
  • HUFs
  • Association of Person
  • Body of Individual
  • Local authority
  • Companies that claim exemption u/s 11

Those companies who have any component of income from the religious or charitable organization can seek exemption under section-11. Thus, in simpler words, an entity not seeking exemption under section-11 shall file ITR-6.

Procedure for Filing ITR 1 Form

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9899

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Income tax return filing for a taxpayer with taxable income of less than Rs.10 lakhs.

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Income tax return filing for a taxpayer with taxable income of more than Rs.25 lakhs.

Structure of Form ITR-6

Form ITR-6 is a detailed form divided into two parts, i.e. Part-A and Part-B (along with their sub-sections) with multiple schedules that consist of information relating to income and tax of the assessee. Let us go through these in tabular format for understanding in detail:

Part A (and its sub-sections)

General Information

This sub-section shall be filed with basic details of entity such as Name, PAN number, address, CIN, incorporation date, etc.

Balance Sheet

This sub-section shall consist of details relating to the balance sheet of the company such as liabilities, current liabilities, share capital, and more.

Trading Account

This sub-section requires details relating to income and expenditure of the company.

Manufacturing Account

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

Profit & Loss Account

This sub-section shall be filed with details of the company's profit or loss incurred during the relevant financial year.

Part B (and its sub-sections)

Part B-TI

Computation of Total Income

Part B-TTI

Computation of Tax Liability on Total Income

Schedules Purpose
Bank account details
Schedule –HP For computing incomes under the head Income from House Property
Schedule –BP For computing incomes under the head “profit and gains from business and profession
Schedule –DPM For calculating depreciation on plant & machinery
Schedule –DOA For a summary of depreciation on all assets
Schedule –DCG For calculating the deemed capital gain on sale of depreciable assets
Schedule –ESR Deductions u/s 35, i.e. expenditure on scientific research
Schedule –CG For calculating income under the head “Capital gains”
Schedule –OS For calculating income from other sources
Schedule –CYLA Calculating the income after setting off the current year's loss
Schedule –BFLA Calculation of income after setting off the 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 u/s 10AA
Schedule –80G Details of deduction u/s 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
Schedules Purpose
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 u/s 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 Details on advance-tax paid and self-assessment tax
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

FAQ's

ITR 6 Form
How to download form ITR-6?

ITR-6 is a completely online form and can be downloaded online through the official website of Income Tax. The income tax department has not yet provided any offline tools for filing ITR-6.

What is the due date of filing ITR-6?

General due date for filing income tax return by the assessee requiring tax audit is 30th September of the relevant financial year. However due to COVID-19, the date for filling ITR-6 for the financial year 2019-20 has been extended to 31st October 2020.

Who can use ITR-6 Form ?

ITR-6 must be filed by companies that are not claiming exemption under section 11 (Income from property held for charitable or religious purposes)

Who should not file ITR-6 Form ?

ITR-6 cannot be filed by Taxpayers who fall under the below category :

  1. Individuals, Hindu Undivided Family (HUF), Firm, Association of Person (AOP), Body of Individuals (BOI), Local Authority and Artificial Judiciary Person
  2. Individuals, Hindu Undivided Family (HUF), Firm, Association of Person (AOP), Body of Individuals (BOI), Local Authority and Artificial Judiciary Person
When should ITR-6 be filed ?

ITR-6 form is to be used when the tax payer is registered as a Company under Indian Companies Act of 1956 or any other law, and if the company is not claiming exemption under section 11 (Income from property held for charitable or religious purposes).

What is the due date for filing ITR-6 Form ?

Due date for filing the income tax return is 30th September.

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