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ITR-6 Return Filing
ITR-6 Return Filing - Simplify Your Company’s Tax Compliance with Petax Filings
What is ITR-6 Return Filing?
ITR-6 is the mandatory income tax return form for companies registered in India, except those claiming exemptions under Section 11 of the Income Tax Act. Filing ITR-6 on time is crucial to ensure compliance, avoid penalties, and carry forward losses, if any.
Deadline: Companies must file ITR-6 by 31st October of the assessment year. If the company has transfer pricing transactions, the due date is 30th November.
Who Needs to File ITR-6?
ITR-6 applies to companies registered under the Companies Act, 2013 or Companies Act, 1956, including:
✅ Private Limited Companies
✅ Public Limited Companies
✅ One Person Companies (OPCs)
However, the following entities cannot file ITR-6:
❌ Individuals, HUFs, Firms, AOPs, BOIs
❌ Local Authorities and Artificial Judicial Persons
❌ Companies claiming exemption under Section 11 (charitable/religious organizations)
Why Timely ITR-6 Filing is Important
Individuals falling under the following categories cannot file ITR-1:
- Carry Forward Losses: Companies filing on time can carry forward business losses for up to 8 years, reducing future tax liabilities.
- Avoid Penalties & Interest: Late filing attracts penalties under Section 234F and interest under Sections 234A, 234B, 234C.
- Lower Scrutiny Risk: Timely filing reduces the chances of receiving tax department notices.
- Faster Tax Refunds: Early filing ensures quicker processing of refunds.
- Better Loan & Credit Opportunities: Banks require ITR filings for approving loans and credit facilities.
- Hassle-Free Business Closure: Proper tax compliance ensures a smooth winding-up process.
Structure of ITR-6 Form
Part A: General Information & Financials
- Company Details: Name, PAN, CIN, Incorporation Date, Address
- Trading Account: Revenue and Expenditures
- Balance Sheet: Liabilities, Assets, Share Capital
- Manufacturing Account: Opening Stock, Closing Stock, Production Costs
- Profit & Loss Account: Net Profit/Loss during the financial year
Part B: Income & Tax Computation
- Total Income Calculation (Part B-TI)
- Tax Liability Computation (Part B-TTI)
Key Schedules in ITR-6
Schedule | Purpose |
Schedule-HP | Income from House Property |
Schedule-BP | Profit & Gains from Business/Profession |
Schedule-DPM | Depreciation on Plant & Machinery |
Schedule-CG | Capital Gains Calculation |
Schedule-OS | Income from Other Sources |
Schedule-80G | Donation Deductions |
Schedule-MAT | Minimum Alternate Tax (MAT) Details |
Schedule-IT | Advance Tax & Self-Assessment Tax Details |
Schedule-TDS | Tax Deducted at Source (TDS) |
Schedule-GST | GST Turnover Details |
Schedule-FA | Foreign Assets & Income Disclosure |
Step-by-Step ITR-6 Filing Process
- Login to the Income Tax e-Filing Portal
- Select ‘ITR-6’ Form under the e-Filing section
- Fill in Part A & Part B, along with relevant schedules
- Verify Tax Computation and confirm all details
- Submit the ITR-6 Form Online
- Download Acknowledgment (ITR-V) for records
- Complete E-Verification (if applicable)
Documents Required for ITR-6 Filing
While no annexures or TDS certificates need to be attached, companies should reconcile taxes with Form 26AS. Here’s a checklist:
✅ Monthly Purchase & Sales Bills
✅ GST Tax Paid Challans
✅ Purchase & Sales Return Details
✅ Fixed Asset Invoices (if applicable)
✅ Business Bank Account Details & Statements
✅ Day-to-Day Admin & General Expense Records
✅ Rental Agreement (if applicable)
✅ Loan & Investment Details (Cash & Bank)
✅ Proof of Cash Inflow & Outflow
✅ Outstanding Receivables & Payables
✅ Company PAN & Digital Signature Certificates (DSCs)
Why Choose Petax Filings for ITR-6 Filing?
Why Choose Petax Filings for ITR-6 Filing?
Petax Filings provides expert tax solutions to ensure a hassle-free and accurate ITR-6 filing experience. With our dedicated professionals, we assist in: ✔ Error-Free Return Filing to avoid discrepancies
✔ Ensuring Compliance with Tax Laws
✔ Seamless Tax Deduction Reconciliation with Form 26AS
✔ Maximizing Tax Benefits & Deductions
✔ Fast & Reliable Support Throughout the Process
Get started with Petax Filings today and simplify your company’s tax filing process!
Contact Us
Ready to Simplify Your Compliance Journey?
- 90030 22270
- Petaxfilings@gmail.com
- 848 Anna Salai, Saidapet, Chennai
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