ITR-6 Return Filing

What are the requirements for ITR Form 6 eligibility?

It is mandatory for the taxpayers registered as a corporation under the Companies Statute 2013 or under a previous act to file ITR Form 6. The following taxpayers aren’t required to fill out this form:

• Firms\Individuals
• Hindu Undivided Families (HUF)
• Companies that have claimed exemption under Section 11 and local authorities and artificially
• Body of Individuals (BOI) and Association of Persons (AOP)

What is the ITR-6 form’s structure?

The form is divided into two parts, as well as several schedules:

• Part A: Background data
• Balance Sheet as of March 31, 2022, Part A-BS
• Part A-BS-Ind AS: Balance Sheet as of the earlier date of the business combination or March 31, 2022.
• Manufacturing Account, Part A, for the fiscal year 2020-21
• Trading Account for Fiscal Years 2021-22, Part A
• Part A-P&L: 2021-22 fiscal year profit and loss account
• Manufacturing Account for the fiscal year 2021-22, Part A of the Manufacturing Account-Ind AS.
• Trading Account for the fiscal year 2021-22, Part A of Trading Account Ind-AS.
• For the fiscal year 2021-22, Part A-P&L Ind-AS: Profit and Loss Account is below.
• Other information, Part A-OI
• A-QD: Quantitative information
• Part A-OL: Account for receipts and payments made by a company in liquidation. The timetables listed here
• Calculation of total income in Part B-TI.
• Part B-TTI: Calculating the tax owed on the total income
• Taxes paid:

Here are the 42 schedules:

• Schedule-HP: Income under the heading “Income from House Property” computation
• Schedule-BP: Income under “profit and gains from business or profession” computation
• Schedule-DPM: Calculating depreciation on equipment and other assets under the Income Tax Act Schedule-DPM: Summarising depreciation on all purchases under the Income Tax Act Schedule DEP: Calculating deemed capital gains on the sale of depreciable assets
• Deduction under section 35, Schedule ESR (expenditure on scientific research)
• Schedule-CG: Income under the heading of Capital Gains computation.
• Calculate revenue under the heading “Income from other sources” in Schedule-OS.
• Schedule-CYLA: Statement of revenue after deducting losses from the current year
• Schedule-BFLA: Income Statement after offsetting carried-forward, unabsorbed loss from prior years.
• Schedule CFL includes a statement of losses to be carried forward to subsequent years.
• Details of unabsorbed depreciation and allowance under section 35 are provided in Schedule –UD (4)
• Schedule Income Computation Disclosure Standards’ impact on revenue is known as ICDS.
• Schedule 10AA: Section 10AA deduction computation
• Schedule 80G: Information about donations eligible for section 80G deductions
• Schedule 80GGA: Information on gifts made for rural development or science
• Schedule RA: Information on gifts made to research organizations, etc.
• Schedule 80IA: Section 80IA deduction computation
• Schedule 80IB: Section 80IB deduction computation
• Schedule-80IC or 80IE: Section 80IC or 80 IE deduction computation
• Schedule-VIA: A statement of deductions made under Chapter VIA (from gross income).
• Schedule-SI: Statement of Income Subject to Special Rates of Tax
• Schedule PTI: Pass-through income information from an investment fund or business trust
• Schedule-EI: Income not shown on Statement of Income (exempt incomes)
• Schedule-MAT: Section 115JB’s Minimum Alternate Tax Calculation
• Schedule-MATC: Section 115JAA Tax Credit Calculation
• Schedule BBS: Information about tax on domestic company’s dispersed profits from share buybacks that are not disclosed on the stock exchange
• Secondary adjustment to transfer price per section 92CE, according to Schedule TPSA (2A)
• Schedule TR: Summary of tax relief sought for taxes paid outside India. Schedule FSI: Details of income from outside India and tax relief
• Schedule FA: Information about foreign assets and outside-Indian source income
• Schedule SH-1: Ownership of shares in an unlisted company
• Schedule SH-2: Startups’ Shareholding
• As of the year’s conclusion, assets and liabilities are listed in Schedule AL-1.
• Assets and liabilities as of the year’s conclusion are listed in Schedule AL-2 (applicable for startups only)
• Information on reported turnover and gross receipts for GST is included in Schedule GST.
• Schedule FD: Break-up of foreign currency payments and receipts

How to download ITR – 6 form?

You can download ITR-6 for free from the official Income Tax Portal. There’s no method to offline file ITR-6 as of now. You can follow the following steps to download this form:

• Step 1: Go to the official Income Tax Website
• Step 2: Find the “Download” box in the right sidebar.
• Step 3: Click “ITR Notified Forms AY 2021-22” in step three.
• Step 4: To get ITR 6, click on “ITR 6 Notified Form AY 2021-22.”

How can I submit Form ITR-6?

You can submit this form, with your digital signature electronically, to the Income Tax Department.

Note: Annexes are unnecessary.

There’s no need to have any attachments along with ITR – 6 form, not even the TDS certificate. The IRS advises all taxpayers to match their Tax Credit Statement Form 26AS with their taxes deducted, collected, and paid on their behalf.

How should the verification paperwork be filled out?

Provide the necessary information on the verification document. It is important to remove anything that is irrelevant.

Make sure to check for signatures on the verification document before submitting it. The signing individuals’ designation must be selected. Under Section 277 of the Income-tax Act of 1961, if anyone is found guilty of a falsifying statement in return or supporting schedules, then they will be prosecuted, leading to a strict prison sentence and a hefty fine.

Frequently Asked Questions