ITR 6 – Income Tax Return Form for Companies, e filing tax courses

Income tax return ITR-6 can be used by companies that that are not claiming exemption under Section 11 of the Income Tax Act. Section 11 of the Income Tax Act deals with income from property held for charitable or religious purposes. Companies other than companies claiming exemption under section 11 must furnish their income tax must in ITR-6 Form.

Companies claiming exemption under section 11 are those whose income from property is held for charitable or religious purposes. ITR-7 is filed when persons including companies ... Income tax return ITR-6, ITR-6 Form, Who Can Use ITR 6, file ITR 6 Form.
ITR, Description, Excel Utility, Java Utility. ITR 4, For Individuals & HUFs having income from a proprietory business or profession. ITR 5, For persons other than,-

(i) individual,
(ii) HUF,
(iii) companyand
(iv) person filing ITR-7. ITR 6, For Companies other than
companies claiming exemption under section 11 ... earned in Financial Year 2016-17. 1.2. Who can e-File this ITR. Who Can Use ITR 6. •. This ITR can be used by a company, other than a company claiming exemption under section 11. 1.3. Manner of filingthis ITR.

This ITR has to be compulsorily furnished electronically under digital signature to the. Income Tax Department. ypes of Income Tax Return Forms. The ITR forms can be classified into two categories, those applicable to individuals and those applicable to firms and companies. As per the Central Board of Direct taxes, Form ITR 1, ITR 2, ITR 2A, ITR 3, ITR 4 and ITR 4S are applicable in case of individuals. Similarly, ITR 5, ITR 6 and

ITR 6 Form E-file income tax return

ITR 6 Form is applicable for those companies and business organizations who do not hold any income share from the religious or charitable trust. Any organization which does not claim any exemption under Section 11 can use this form to the E-file income tax return. Companies other than companies claiming exemption under section 11 must furnish their income tax must in ITR 6 Form.

ITR 6 Form Eligibility, applicable for Companies

ITR 6 Form is applicable for those Companies who do not hold any income share from the religious or charitable trust. Any company which does not claim any exemption under Section 11 can use this form to the E-file income tax return.

ITR 6 return-e-filing-courses

ITR 6 has been divided into two parts and 33 schedules:
• Part A: General information
• Part B: Outline of the total income and tax computation with respect to income chargeable to tax.

how to file ITR 6 Form

ITR 6 is necessary furnished electronically under digital signature to the Income Tax Department. No Annexures needed

In this return form, while filing ITR-6 no document (including TDS certificate) should be attached. All such documents enclosed with this Return Form will be detached and returned to the person filing the return.It is necessary to match the taxes deducted/collected/paid by or on behalf of them with their Tax Credit Statement Form 26AS.

E Filing ITR 6 form

• If any schedule is not relevant/applicable to you, just strike it out and write —NA— across it
• Write NA against that item or particular which is not applicable to you,
• Write “Nil” across the nil figures.
• Kindly, put a “-” sign prior to any negative figure.
• All figures shall be rounded off to the nearest one rupee except figures for total income/loss and tax payable i.e it will be rounded off to the nearest multiple of ten.

file out your ITR 6 Form is to follow this order

• Part A- General on page 1
• Schedules
• Part B-TI and Part B-TTI
• Verification
ITR Filing, How to fill ITR verification document?

Fill up the required information in the Verification document. Strike out whatever is not applicable. Please ensure that the verification has been signed before furnishing the return. Write the designation of the taxpayer.

Note – If any person making a wrong statement in the filing of the return or any schedules shall be liable to be prosecuted under section 277 o f the Income-tax Act, 1961 and on conviction be punishable under that section with rigorous imprisonment and with fine.

For any help on ITR Filing feel free to consult the tax experts at Income Tax Academy. You can file ITR yourself via our CA’s help on filing income tax return.

What is the ITR 6 Form used for?

The Income Tax Department of India issues ITR 6 form for companies to file their income tax returns.

Who is Required to File Form ITR 6?

Companies (other than a company claiming exemption under section 11) can use ITR 6 for tax filing. Companies claiming exemption u/s 11 are the ones that hold their income arising from any property for religious or charitable purposes.

ITR 6 Form Profit and loss account, balance sheet, Computation of income under the Income-tax Act

This return form has the following components:
1. Part A with the following six sub-divisions:
Part A-GEN mainly seeks general information requiring indemnificatory and other data;
Part A-BS seeks the balance sheet as on 31 March 2017;
Part A-P&L seeks information regarding the Profit and loss account for the financial year 2016-17;
Part A-OI seeks other information. It is optional in a case not liable for audit under section 44AB
Part A-QD seeks information regarding quantitative details of the principal item of goods traded. It is optional in a case not liable for audit under section 44AB.
Part A-OL is to be filled in case the company is under liquidation.

2. The second part, i.e., Part-B is regarding an outline of the total income and tax computation in respect of income chargeable to tax.
3. There are the following 31 schedules:
Schedule-HP: Computation of income under the head Income from House Property
Schedule-BP: Computation of income under the head ‘profit and gains from business or profession’
Schedule-DPM: Computation of depreciation on plant and machinery under the Income-tax Act
Schedule DOA: Computation of depreciation on other assets under the Income-tax Act
Schedule DEP: Summary of depreciation on all the assets under the Income-tax Act
Schedule DCG: Computation of deemed capital gains on sale of depreciable assets
Schedule ESR: Deduction under section 35 (expenditure on scientific research)
Schedule-CG: Computation of income under the head Capital gains
Schedule-OS: Computation of income under the head Income from other sources
Schedule-CYLA: Statement of income after set off of current year’s losses
Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years
Schedule-CFL: Statement of losses to be carried forward to future years
Schedule-UD: Details of unabsorbed depreciation
Schedule- ICDS: Statement of effect of income computation disclosure standards on profit
Schedule-10A: Computation of deduction under section 10A
Schedule-10AA: Computation of deduction under section 10AA
Schedule-80G: Details of donation entitled for deduction under section 80G
Schedule-80IA: Computation of deduction under section 80IA
Schedule-80IB: Computation of deduction under section 80IB
Schedule-80IC or 80IE: Computation of deduction under section 80IC or 80IE
Schedule-VIA: Statement of deductions (from total income) under Chapter VIA.
Schedule-SI: Statement of income which is chargeable to tax at special rates
Schedule-EI: Statement of income not included in total income (exempt incomes)
Schedule-PTI: Statement of income from Business Trust or Investment Fund as per section 115UA, 115UB
Schedule-MAT: Computation of Minimum Alternate Tax payable under section 115JB
Schedule-MATC: Computation of tax credit under section 115JAA
Schedule-DDT: Details of payment of Dividend Distribution Tax
Schedule BBS: Details of tax on distributed income of domestic company on buyback of shares, not listed on stock exchange
Schedule FSI: Details of income accruing or arising outside India
Schedule TR: Details of Taxes paid outside India
Schedule FA: Details of Foreign Assets and Income

Instructions for Filling out Parts of ITR Form 6 and it’s Schedules

General Guidelines

All items must be filled in the manner indicated therein; otherwise, the return may be liable to be held defective or even invalid.
If any item is inapplicable, write ‘NA’ against that item.
Write ‘Nil’ to denote nil figures.
Except, as provided in the form, for a negative figure/figure of loss, write ‘-’ before such figure.
All figures should be rounded off to the nearest one rupee. However, the figures for total income/loss and tax payable be finally rounded off to the nearest multiple of ten rupees.

ITR Filling Parts and Schedules

As per Income Tax Department, an assessee should follow the below-mentioned sequence while filing ITR:
Part A
Schedules
Part B
Verification

Manner of Filling the Verification Document

You are supposed to fill up the required information in the verification.
You can strike out whatever is not applicable.
Ensure that the verification has been signed prior to furnishing the return. Also, write the designation of the person signing the return.
You must note that any person making a false statement in the return or the accompanying schedules shall be liable to be prosecuted under section 277 of the Income-tax Act, 1961 and on conviction be punishable under that section with rigorous imprisonment and with fine.

Changes Made in the ITR 6 Form for AY 2017-18

Registration Number of CA Firm – You are supposed to mention the registration number of the firm of the Chartered Accountant in the ITR form, who has done an audit.

Disclosure of ‘unexplained income’ and ‘dividend income’ in excess of Rs 10 lakh – Under ‘schedule OS,’ you are required to declare unexplained credit or investment and dividend received from domestic companies exceeding Rs 10 lakh.

Frequently Asked Questions

What if the Annexure is not Attached to the Return Form?
You are not supposed to attach any document (including TDS Certificate) to this return form. Such documents enclosed with the return form will be detached and returned to you. Taxpayers are advised to match the taxes deducted/collected/paid by or on behalf of them with their Tax Credit Statement (Form 26AS).

Where should I Fill the Details of Audit Report in the Form?

Under the head ‘Audit Information,’ if the assessee is liable for audit u/s 44AB and the accounts have been audited by an accountant, then the details of such audit report along with the date of furnishing it (if filed before the return) to the department has to be filled. Further, if the assessee is liable to furnish other audit report the section under which such audit is required and the date of furnishing it to the department (if audit has been carried out under that section) has to be filled. It is compulsory to furnish audit reports (if the audit has been carried out) electronically on or before the date of filing the return of income.