ITR – 6 Return
ITR – 6 Return
ITR - 06
All the companies need to file an income tax return by using ITR Form 6. Only companies other than companies claiming exemption under section 11 must furnish ITR Form -6 to file their income tax return with the Income Tax Department of India.
Companies claiming exemptions under section 11
Those companies whose income from property is held for some charitable or religious purpose can claim exemption under section 11. These companies cannot use ITR Form 6 for filing the income tax return with the income tax department.
The due date for filing ITR Form 6 for the purpose of the return of income tax is 30th September. After this date if an assessee will file the form it will be taken as late and charged with late fee.
Eligibility criteria for ITR Form 6
ITR Form 6 is furnished by the taxpayers who are registered as a company under the Companies Act 2013(or under former act) . This form cannot be filled by taxpayers who are:
- Firm
- Individuals
- Hindu Undivided Family (HUF)
- Local authority and artificial judicial person
- Body of Individuals (BOI)
- Association of Person (AOP)
- Companies claiming exemption under section 11
However, it's important to note that a person who is required to file the return of income under sections 139(4A), 139(4C),139(4B), or 139(4D) shall not use this form.
ITR-6 cannot be filed by Taxpayers who fall under the below category :
Individuals, Hindu Undivided Family (HUF), Firm, Association of Person (AOP), Body of Individuals (BOI), Local Authority and Artificial Judiciary Person
Companies that claim exemption under section 11 (Income from property held for charitable or religious purposes)
Important Schedules in ITR-6
The ITR-6 form contains several schedules for reporting income, deductions, taxes, and disclosures.
Schedule-OS: Computation of income under the head “Income from Other Sources” such as dividends, cash credits, pass-through income, rental income from machinery/plant, interest income, income tax refund, etc.
Schedule-CYLA: Statement of income after set-off of current year losses
Schedule-BFLA: Statement of income after set-off of unabsorbed losses brought forward from earlier years
Schedule-CFL: Statement of losses to be carried forward to future years
Schedule-UD: Details of unabsorbed depreciation and allowance under Section 35(4)
Schedule ICDS: Effect of Income Computation Disclosure Standards on profit
Schedule-10AA: Computation of deduction under Section 10AA
Schedule-80G: Details of donations eligible for deduction under Section 80G
Schedule-80GGA: Details of donations for scientific research or rural development
Schedule-RA: Details of donations to research associations
Schedule-80IA: Computation of deduction under Section 80IA
Schedule-80IB: Computation of deduction under Section 80IB
Schedule-80IC / 80IE: Computation of deduction under Section 80IC or 80IE
Schedule-VIA: Statement of deductions under Chapter VIA
Schedule-SI: Statement of income chargeable to tax at special rates
Schedule-PTI: Pass-through income details from business trust or investment fund
Schedule-EI: Statement of exempt income
Schedule-MAT: Computation of Minimum Alternate Tax payable under Section 115JB
Schedule-MATC: Computation of tax credit under Section 115JAA
Schedule-DDT: Details of Dividend Distribution Tax payment
Schedule-BBS: Details of tax on distributed income of domestic companies on buy-back of shares
Schedule-ESI: Details of income from outside India and tax relief
Schedule-IT: Statement of advance tax and self-assessment tax payments
Schedule-TDS: Details of tax deducted at source on income other than salary
Schedule-TCS: Details of tax collected at source
Schedule-FSI: Details of income arising outside India
Schedule-TR: Summary of foreign tax relief claimed
Schedule-FA: Details of foreign assets and foreign income
Schedule-SH-1: Shareholding details of unlisted companies
Schedule-SH-2: Shareholding details of start-ups
Schedule-AL-1: Assets and liabilities at year-end
Schedule-AL-2: Assets and liabilities at year-end for start-ups
Schedule-GST: GST turnover and gross receipts information
Schedule-FD: Break-up of payments and receipts in foreign currency
