Filing Income Tax Returns (ITR) is an essential responsibility for companies in India, ensuring compliance with tax laws while maintaining financial transparency. For Assessment Year (AY) 2025-26, companies that do not claim exemptions under Section 11 must file their returns using the ITR 6 Form. This article simplifies the process of filing ITR 6 online, offering a step-by-step guide and practical tips to help companies navigate the complexities of tax filing seamlessly.
Additionally, we explore how financial planning tools, such as Bajaj Finserv Home Loans, can help companies optimise their resources and manage expenses effectively.
What is the ITR-6 Form?
The ITR-6 Form is an income tax return form specifically designed for companies, excluding those claiming exemptions under Section 11. It is mandatory for such entities to report their income, deductions, and tax liabilities for the relevant financial year using this form.
By filing the ITR-6 Form, companies can ensure compliance with India’s tax regulations while contributing to the nation’s economic growth.
What are the entities claiming exemptions under Section 11?
Section 11 of the Income Tax Act provides exemptions for income derived from property held under trust for charitable or religious purposes. Companies engaged in these activities, such as trusts or non-profit organisations, are not required to file their returns using the ITR-6 Form. Instead, they must use other applicable forms, such as ITR-7.
Who should file ITR 6?
The ITR-6 Form is mandatory for companies registered under the Companies Act, 2013, except those claiming exemptions under Section 11. This includes:
- Private limited companies
- Public limited companies
- One-person companies
- Startups and other incorporated entities
E-filing audit reports
Companies required to file the ITR-6 Form must also submit their audit reports electronically. These reports are mandatory for entities whose turnover exceeds specific thresholds, ensuring the accuracy and authenticity of financial records. The audit report must be filed before the due date to avoid penalties.
What is the structure of the ITR-6 Form?
The ITR-6 Form is structured into various sections, each serving a specific purpose:
- General Information: Basic details about the company, such as name, PAN, and address.
- Balance Sheet and Profit & Loss: Financial statements for the relevant financial year.
- Tax Computation: Details of taxable income, deductions, and tax liability.
- Verification: Declaration by the authorised signatory confirming the accuracy of the information provided.
How do I fill out the ITR-6 Form?
Filling out the ITR-6 Form requires accuracy and attention to detail. Follow these steps:
- Gather essential documents, including financial statements, audit reports, and tax payment receipts.
- Log in to the Income Tax Department’s e-filing portal using your company’s credentials.
- Select the ITR-6 Form and download the applicable utility software.
- Fill in the required details, ensuring all figures match your financial records.
- Validate the form and generate the XML file for submission.
How do I file my ITR-6 Form?
The process of filing the ITR-6 Form online is straightforward:
- Log in to the e-filing portal.
- Upload the XML file generated after filling the form.
- Verify the submission using your digital signature or electronic verification code (EVC).
- Once verified, download the acknowledgment for future reference.
Due date for filing ITR-6 Form
For AY 2025-26, the due date for filing the ITR-6 Form is 31st October 2025. Companies must ensure timely submission to avoid penalties and interest on late payments.
How to fill out the verification document
The verification section of the ITR-6 Form is crucial, as it confirms the authenticity of the information provided. The authorised signatory of the company must:
- Sign the form digitally using a valid digital signature certificate (DSC).
- Provide their name, designation, and date of signing.
Tips to file ITR-6
Filing ITR-6 can be simplified with these pro tips:
- Prepare in advance: Collate all necessary documents, including financial statements and audit reports, before the due date.
- Use tools for accuracy: Financial tools like Bajaj Finserv’s EMI Calculator can help companies plan their expenses and ensure accurate reporting.
- Seek professional help: Consult a tax advisor or chartered accountant for complex tax computations.
- Verify details: Double-check all entries to avoid errors or discrepancies.
Conclusion
Filing the ITR-6 Form is a critical step for companies to ensure compliance with tax laws and maintain financial transparency. By following the steps and tips outlined above, companies can streamline the process and avoid penalties.
Effective financial planning can further help companies manage their resources efficiently. Bajaj Finserv Home Loans offer a range of benefits, including loan amounts up to Rs. 15 crore, competitive interest rates starting at 7.49%* p.a., and repayment tenures of up to 32 years. Companies can use tools like the EMI Calculator to plan their finances and optimise their tax strategies.
Take control of your company’s financial health today. Explore Bajaj Finserv Home Loans and make informed decisions for a secure future.
