ITR 6 Filing Form

If the company is not claiming an exemption under Section 11 of the Income Tax Act of 1961, ITR 6 Form must be submitted by the company in order to electronically file the income tax returns. Companies with revenue from assets kept for charity or religious purposes are those that are eligible to apply for an exemption under Section 11 of the revenue-tax Rules.

The businesses that do not assert an exemption under section 11 must file an ITR 6.

Efiling audit reports

If the accountant has audited the accounts and the assessee is responsible for the audit under Section 44AB, the department must be electronically forwarded the audit report's data, the auditor's name, and the date of providing.

Who is eligible to file ITR 6 Form?

• ITR 6 Form is to be filed by every company irrespective of its structure registered under the Companies Act 2013 or the earlier Companies Act 1956. However, the companies whose source of income comes from the property that is held for religious or charitable purposes are not required to file ITR 6 Form.
• If the sales, turnover, or gross receipts are more than Rs.1 crore in the preceding financial year the entity must get the accounts audited from a certified Chartered Accountant.

Who is not eligible to file ITR 6 Form?

Companies that receive revenue from charity or religious organisations may apply for exemptions under Section 11. To put it another way, an entity that wants to be exempted from Section 11 shouldn't file an ITR 6 Form.

Structure of ITR 6 Form

ITR 6 is divided into Part A and Part B ( along with the sub-sections) with multiple schedules that include information relevant to the income and tax of the taxpayer. Let us have a detailed look at this.

Part A (and its subsections)

General information: This Sub-section should be filed with the basic details of the entity such as the Name, PAN number, address, CIN, Incorporation date, etc.

Trading Account: This sub-section requires the details that are relevant to the income and the expenditure of the company.

Balance sheet: This subsection should consist of the details of the balance sheet of the company such as the liabilities, current liabilities, share capital, and more.

Manufacturing account: This Sub-section required the figures of manufacturing the accounts relating to the inventory such as opening stock, closing stock, and cost of the goods that are produced.

Profit and Loss Account: This subsection should be filed with the details of the company's profit or the loss that is incurred during the relevant financial year.

Part B (and its subsections)

Part B-TI: Computation of Total Income

Part B-TTI: Computation of Tax liability of the Total Income.

How to file ITR 6 Form?

The Income-tax department advises to fill the Income-tax returns in the following sequence:

• Part A ( and its subsection) All the Schedules
• Part B ( its subsection) Verification

The assessee's DSC must be included to this income tax return when it is submitted electronically and must be filed online. No document must be included when filing the ITR 6 Form; it is not necessary. Annexes are not included with the ITR 6 Form.

In relation to tax deduction, collection, and payment, the taxpayer is required to add up the information on Form 26 AS, Tax Credit Statement.