Different Income Tax Forms are applicable for different types of taxpayers and the companies registered in India are required to file their Income Tax Return in ITR Form 6.
All companies are required to file their Income Tax Returns in ITR 6 except companies claiming exemption under Section 11 i.e. all companies except those companies which have held property for charitable or religious purpose.
The due date for filing of Income Tax Returns for Companies is 30th Sept irrespective of whether tax audit is mandatorily required to be conducted or not. However, income tax efiling of ITR 6 is mandatory for all companies and such returns should be signed through Digital Signature.
The ITR 6 Form for Income Tax efiling can be downloaded from here
- ITR 6 Java Utility
- ITR 6 Excel Utility
Audit Details to be mentioned in ITR 6
Tax Audit under Section 44AB is applicable only to companies which meet any of the below mentioned criteria. If a company does not meet any of the below mentioned criteria, then income tax audit would not be applicable.
Income Tax Audit applicable in case of the below mentioned criteria is satisfied:-
- The person is carrying on business and his Total Sales/Turnover exceeds Rs. 1 Crores, or
- The person is carrying on profession and his gross receipts exceed Rs. 50 Lakhs. (Limit increased and applicable from Financial Year 2016-17 onwards)
- The person is carrying on business or profession and is covered under the provisions of Section 44AD, 44AE, 44AF, 44BB, or 44BBB and claims that his income from the said business is lower than the deemed profits and gains computed under the relevant sections.
In case income tax audit is applicable, the details of such audit would be required to be mentioned in the income tax return under the head “Audit Information”.
Further, if the assessee is liable to furnish any other audit report, the section under which such audit is required and the date of furnishing it to the department is also required to be mention in the income tax return.
If the audit has been conducted under any Act except the Income Tax Act, then under the head “Audit Information”, in (e), fill up the name of the Act, Section and date of furnishing the Audit Report.
Other Relevant Points regarding filing ITR 6
- If the tax liability computed is less than 18.5% of the book profits, the company is required to pay MAT under Section 115JB @18.5%. The excess tax so paid is allowed to be carried forward for credit in the year in which tax liability under the normal provisions of the Act is more than the MAT Liability. Such carry-forward is allowed up to 10 years.
- In case the return is being filed in a representative capacity, it is also required to quote the PAN of such a person.
- No Document like Form 16, Form 16A, Form 16B, Form 26AS etc is required to be attached with ITR 6. All Income Tax Forms are annexure less forms.
- It is mandatory for the companies to mention their Bank Account No. irrespective of whether any Income Tax Refund is due or not.