ITR-6 is an Income Tax Return form specifically designed for companies that are not claiming exemption under section 11 of the Income Tax Act.

The Income Tax Department has introduced various forms for different taxpayers. An assessee should choose the appropriate form as per the source of income. One such Income Tax Return (ITR) is ITR 6 form for companies. This article covers all about ITR 6.

Who should file ITR 6?

All companies registered under the Companies Act 2013 or the earlier Companies Act 1956 should file ITR 6 Form. However, if the company's source of income comes from the property held for religious or charitable purposes are not required to file ITR 6 Form.

Major Changes in FY 2023-2024 in ITR 6

The CBDT has notified Income-tax Return Form 6 for the Assessment Year 2024-25, vide Notification No. 16/2024, dated 24-01-2024. The new ITR-6 Form will be applicable for filing income-tax returns by the companies with respect to income earned during the previous year 2023-24 (between 01-04-2023 and 31-03-2024). We have scrutinized the new ITR-6 Form and have identified the key changes in the new form viz-a-viz last year's ITR-6 Form. These changes have been explained in this article.

E-filing audit reports

If the assessee is liable for Audit u/s 44AB and the accounts have been audited by an accountant, the details of such audit report,auditor along with the date of furnishing it to the department electronically has to be provided.

How do I fill out the ITR-6 Form?

Sequence for filling out parts and schedules
The Income Tax Department advises assesses to follow the sequence mentioned below while filling out the income tax return.

  • Part A
  • Schedules
  • Part B
  • Verification

Due date for filing ITR-6 Form

  • When accounts are to be audited under the Income-Tax Act - 31 October of the assessment year
  • When report in Form No. 3CEB is to be furnished - 30 November of the assessment year
  • In other case (where accounts need not be audited) - 31 July of the assessment year

How do I file my ITR-6 Form?

This income tax return has to be compulsorily furnished electronically under digital signature to the Income Tax Department.

What is the penalty for filing ITR 6?

As per the changed rules notified under section 234F of the Income Tax Act, filing your ITR post the deadline, can make you liable to pay a maximum penalty of Rs. 5,000.

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