All the eligible Indian taxpayers must file income tax returns before the due date of filing returns. The Income Tax Department has brought various income tax return forms for taxpayers to file their returns. One of the income tax return form is ITR-6 Form. The ITR 6 Form is used by companies to file ITR 6.
What is ITR 6 Form?
The ITR Form 6 is applicable to companies that do not claim tax exemption under section 11 of the Income Tax Act, 1961.
Components of ITR-6 Form
The ITR-6 Form has been divided into various parts and schedules as mentioned below-
Part A: General information
Part A-BS: Balance Sheet as on 31st March 2022
Part A-BS-Ind AS: Balance Sheet as on 31st March 2022 or as on the date of the business combination
Part A-Manufacturing Account for the financial year 2021-22
Part A-Trading Account for the financial year 2021-22
Part A-P&L: Profit and Loss Account for the financial year 2021-22
Part A-Manufacturing Account-Ind AS: Manufacturing Account for the financial year 2021-22
Part A-Trading Account Ind-AS: Trading Account for the financial year 2021-22
Part A-P&L Ind-AS: Profit and Loss Account for the financial year 2021-22
Part A-OI: Other information
Part A-QD: Quantitative details
Part A-OL: Receipt and payment account of company under liquidation
Part B-TI: Computation of total income
Part B-TTI: Computation of tax liability on total income
The 42 schedules are:
Schedule-HP: Computation of income under the head Income from House Property
Schedule-BP: Computation of income under the head “profit and gains from business or profession”
Schedule-DPM: Computation of depreciation on plant and machinery under the Income-tax Act
Schedule DOA: Computation of depreciation on other assets under the Income-tax Act
Schedule DEP: Summary of depreciation on all the assets under the Income-tax Act
Schedule DCG: Computation of deemed capital gains on sale of depreciable assets
Schedule ESR: Deduction under section 35 (expenditure on scientific research)
Schedule-CG: Computation of income under the head Capital gains.
Schedule-OS: Computation of income under the head Income from other sources.
Schedule-CYLA: Statement of income after set off of current year’s losses
Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years.
Schedule- CFL: Statement of losses to be carried forward to future years.
Schedule –UD: Details of unabsorbed depreciation and allowance under section 35(4)
Schedule ICDS: Effect of Income Computation Disclosure Standards on profit
Schedule- 10AA: Computation of deduction under section 10AA
Schedule- 80G: Details of donation entitled for deduction under section 80G
Schedule 80GGA: Details of donations for scientific research or rural development
Schedule RA: Details of donations to research associations etc.
Schedule- 80IA: Computation of deduction under section 80IA
Schedule- 80IB: Computation of deduction under section 80IB
Schedule- 80IC or 80IE: Computation of deduction under section 80IC or 80 IE
Schedule-VIA: Statement of deductions (from total income) under Chapter VIA.
Schedule-SI: Statement of income which is chargeable to tax at special rates
Schedule PTI: Pass through income details from business trust or investment fund
Schedule-EI: Statement of Income not included in total income (exempt incomes)
Schedule-MAT: Computation of Minimum Alternate Tax payable under section 115JB
Schedule-MATC: Computation of tax credit under section 115JAA
Schedule BBS: Details of tax on distributed income of domestic company on buy back of shares, not listed on stock exchange
Schedule TPSA: Secondary adjustment to transfer price as per section 92CE(2A)
Schedule FSI: Details of income from outside India and tax relief
Schedule TR: Summary of tax relief claimed for taxes paid outside India
Schedule FA: Details of Foreign Assets and income from any source outside India
Schedule SH-1: Shareholding of unlisted company
Schedule SH-2: Shareholding of Start-ups
Schedule AL-1: Assets and liabilities as at the end of the year
Schedule AL-2: Assets and liabilities as at the end of the year (applicable for start-ups only)
Schedule GST: Information regarding turnover/gross receipt reported for GST
Schedule FD: Break-up of payments/receipts in Foreign currency
How to Download ITR-6 Form?
The Income Tax Department offers easy way for individuals and HUFs to download ITR-6 Form. Follow the below mentioned steps to do so-
Step 1: Visit the Income Tax Department website at- https://www.incometax.gov.in/iec/foportal
Step 2: On the right-hand side, you will find ‘Downloads’ tab. Click it.
Step 3: Click ‘Income Tax Return’ available on the left hand side of the screen.
Step 4: Find ITR-6 and then click ‘ITR 6 Notified Form_AY 2022-23’
Step 5: Now you can download the ITR-6 Form in the PDF format.
How to File ITR-6?
This ITR Form 6 needs to be compulsorily furnished electronically under digital signature to the Income Tax Department.
ITR Form 6- FAQs
Companies registered under Indian Companies Act, 1956 can file ITR only if it does not claim tax exemption under section 11 of the Income Tax Act, 1961.
Companies whose income from property is held for some charitable or religious purposes cannot use ITR-6 Form to file income tax return.
The last date to file ITR-6 Form is September 30.