Overview of ITR-6 Form Filing Service
The ITR-6 Form is used by companies (other than companies claiming exemption under section 11) to file their income tax returns in India. This form is meant for corporations, including public companies, private companies, and other legal entities incorporated under the Companies Act. ITR-6 is used to report all types of income, deductions, tax liabilities, and tax paid for a company during a specific assessment year.
What is ITR-6 Form?
The ITR-6 Form is designed for companies, both private and public, that are registered under the Companies Act. It is a detailed tax return form that requires companies to provide a comprehensive view of their financials, including income, expenses, capital gains, deductions, and tax paid. The form helps to report income derived from various sources such as business profits, investment income, capital gains, and other relevant financial data.
The ITR-6 Form includes key sections such as:
• Income: Companies report their income from various sources such as business profits, capital gains, interest income, and more.
• Expenses: Companies can claim eligible business expenses that reduce taxable income.
• Balance Sheet and Profit & Loss Account: Companies must provide a balance sheet and profit & loss account as part of their filing.
• Tax Calculation: The form calculates the total tax liability of the company, including applicable tax rates and any eligible tax credits.
Eligibility Criteria for ITR-6:
Companies registered under the Companies Act 1956 or 2013 are required to file ITR-6.
• Companies Not Claiming Exemption Under Section 11:Companies that do not seek exemption under Section 11 (income from charitable or religious purposes) must file ITR-6.
• Various Income Sources:Companies earning income from business profits, capital gains, dividends, interest, or rent must file ITR-6.
Who Cannot File ITR-6 ?
• Charitable or Religious Organizations: Companies claiming exemption under Section 11 must file ITR-7.
• Partnership Firms, LLPs, and Individuals: These entities must use the appropriate tax forms like ITR-3, ITR-4, or ITR-5.
• Non-Profit Organizations and Trusts: Such entities must file ITR-7.
Why is Filing ITR-6 Important
Filing ITR-6 ensures that your company adheres to the legal requirements set forth by the Income Tax Act, reducing the risk of penalties and interest charges.
2. Tax Liability Calculation:The ITR-6 form enables accurate calculation of your company’s tax liability and ensures you pay the correct amount of taxes based on your income and deductions.
3. Claiming Deductions:Companies are entitled to several deductions and exemptions under the Income Tax Act. Filing ITR-6 helps ensure that your company can claim all eligible deductions and tax benefits.
4. Transparent Financial Reporting:The form requires the submission of your balance sheet and profit and loss account, which allows for transparent and accurate reporting of your company's financials.
5. Tax Refund:If the company has paid excess taxes or had TDS deducted, filing ITR-6 allows the company to claim an eligible tax refund.
6. Avoiding Scrutiny:Timely and accurate filing helps in avoiding unnecessary scrutiny or audits from the Income Tax Department.
Our ITR-6 Form Filing Services
1. Consultation and Document Collection
We begin with a detailed consultation to understand your company’s income sources, deductions, and other financial aspects. Our team collects and reviews financial statements, balance sheets, profit & loss accounts, and other essential documents.
2. Income and Expense Reporting
Accurate reporting of income from business operations, capital gains, interest, dividends, and other sources. We also ensure that eligible business expenses and deductions are claimed.
3. Tax Computation and Calculation
We compute the company’s tax liability based on total income, deductions, and rebates, ensuring correct tax payments and minimizing tax liabilities using eligible deductions.
4. Balance Sheet and Profit & Loss Preparation
We support and guide you in preperation of Financial Statements as per Company’s Act and ensures proper financial reporting and compliance with tax regulations.
5. E-Filing of ITR-6
After verifying all details, we file your company’s ITR-6 electronically with the Income Tax Department to ensure timely and accurate submission.
6. Acknowledgment and E-Verification
We provide the ITR-V acknowledgment receipt and assist in the e-verification process to confirm the authenticity of the filing.
7. Tax Refund Assistance
If the company qualifies for a tax refund, we help track and ensure a smooth and timely refund process.
8. Post-Filing Support
We provide assistance in case of any notices or queries from the Income Tax Department, ensuring a hassle-free resolution process.
How ITR-6 Filing Works with Us
- 1
Initial Consultation
Contact us to discuss your company’s financials, income sources, and eligibility for filing ITR-6.
- 2
Document Collection
Provide your balance sheet, profit & loss account, bank statements, and other necessary financial documents.
- 3
Form Preparation
Our experts prepare the ITR-6 Form, ensuring accurate reporting of financials, income, and deductions.
- 4
Review and Filing
We carefully review the completed ITR-6 form and file it electronically with the Income Tax Department.
- 5
E-Verification
We guide you through the e-verification process to confirm your filing and ensure smooth processing.
- 6
Tax Refund (if applicable)
If eligible, we track and assist your company in receiving its tax refund efficiently.
- 7
Post-Filing Assistance
We provide post-filing support to resolve any queries or issues raised by the Income Tax Department.
Frequently Asked Questions
Explore Our Service Categories
ITR 1 Form Filing
ITR 2 Form Filing
ITR 3 Form Filing
ITR 4 Form Filing
ITR 5 Form Filing
ITR 7 Form Filing
