ITR-6 Return

The ITR-6 form is specifically designed for companies that do not claim exemptions under Section 11 of the Income Tax Act, which covers income from property held for charitable or religious purposes.

Who Should Avoid Filing the ITR-6 Form?

The following entities do not need to file the ITR-6 form:

• Individuals
• Hindu Undivided Families (HUFs)
• Partnership Firms
• Associations of Persons (AOPs)
• Bodies of Individuals (BOIs)
• Local Authorities
• Artificial Judicial Persons
• Companies claiming exemptions under Section 11

The ITR 6 Form is a comprehensive document, divided into Part A and Part B, each containing various sections and schedules. This form captures essential details about your income and tax information. Let's break it down for a clearer understanding:

Part A (and Sub-sections):

1. General Information:
   Provide fundamental details about your entity, including Name, PAN, Address, CIN, and Incorporation Date.
2. Trading Account:
   Include information related to the company's income and expenditures.
3. Balance Sheet:
   Detail the company’s balance sheet, covering liabilities, current liabilities, share capital, and more.
4. Manufacturing Account:
   Report figures related to manufacturing, such as opening stock, closing stock, and production costs.
5. Profit and Loss Account:
   Include details of the company’s profits or losses for the financial year.

Part B (and Sub-sections):

1. Part B-TI:
   Calculation of Total Income.
2. Part B-TTI:
   Calculation of Tax Liability on the Total Income.

Schedules and Their Purposes:

• Bank Account Details: Basic banking information.
• Schedule – HP: Income from House Property.
• Schedule – BP: Profits and gains from Business or Profession.
• Schedule – DPM: Depreciation on Plant & Machinery.
• Schedule – DOA: Summary of Depreciation on All Assets.
• Schedule – DCG: Deemed Capital Gain on Sale of Depreciable Assets.
• Schedule – ESR: Deductions for Scientific Research Expenditures.
• Schedule – CG: Income from Capital Gains.
• Schedule – OS: Income from Other Sources.
• Schedule – CYLA: Income After Setting Off Current Year’s Loss.
• Schedule – BFLA: Income After Setting Off Previous Year’s Unabsorbed Loss.
• Schedule – CFL: Statement of Loss for Carry Forward.
• Schedule – UD: Unabsorbed Depreciation and Allowance Statements.
• Schedule – ICDS: Income Computation Disclosure Standards on Profit.
• Schedule – 10AA: Deductions Under Section 10AA.
• Schedule – 80G: Details of Donations Under Section 80G.
• Schedule – 80GGA: Donations for Scientific Research and Rural Development.
• Schedule – VIA: Deductions Under Chapter VI-A.
• Schedule – SI: Income Chargeable at Special Tax Rates.
• Schedule – PTI: Passing Through Income from Business Trusts or Investment Funds.
• Schedule – EI: Exempted Income Statement.
• Schedule – MAT: Minimum Alternate Tax Payable.
• Schedule – DDT: Dividend Distribution Tax Details.
• Schedule – BBS: Tax Distributed Income on Share Buybacks.
• Schedule – ESI: Foreign Incomes and Tax Relief Details.
• Schedule – IT: Advance Tax and Self-Assessment Tax Details.
• Schedule – TDS: TDS Details on Incomes Other Than Salaries.
• Schedule – TCS: Tax Collected at Source Details.
• Schedule – FSI: Income Accruing Outside India.
• Schedule – TR: Foreign Tax Relief Details.
• Schedule – FA: Foreign Assets and Income Details.
• Schedule – SH1: Shareholding Details of Unlisted Companies.
• Schedule – SH2: Shareholding Details of Start-Ups.
• Schedule – AL1: Assets and Liabilities Statement at Year-End.
• Schedule – GST: Turnover Reported for GST.
• Schedule – FD: Foreign Currency Payment/Receipt Details.

• For Accounts Subject to Audit: The deadline is October 31st of the assessment year.
• When Reporting with Form No. 3CEB: The due date is November 30th of the assessment year.
• For Non-Audited Accounts: The deadline is July 31st of the assessment year.

How to Complete the ITR 6 Form

To ensure a smooth and accurate filing process for the ITR-6 Form, follow these recommended steps provided by the Income Tax Department:

1. Part A
2. Schedules
3. Part B
4. Verification

Adhering to this sequence helps organize your information and simplifies the completion of your income tax return.

No Documents Required

When filing the ITR-6 form, you do not need to attach any documents, such as TDS certificates. However, it is important to reconcile the taxes deducted, collected, or paid on your behalf by comparing them with your Tax Credit Statement Form 26AS.