ITR 6 Filing: Complete Corporate Tax Return Guide for Companies

Every company registered in India carries the responsibility of annual tax compliance. Whether you run a startup, a growing SME, or a large corporation, understanding ITR 6 filing requirements is essential for staying compliant with the Income Tax Department. Missing deadlines or filing incorrectly can result in hefty penalties, interest charges, and even prosecution in severe cases.

This comprehensive guide covers everything about the corporate tax return form 6, including eligibility criteria, applicable tax rates, required documentation, and the step-by-step filing process. Whether you're handling private limited tax filing for the first time or need a refresher, this article provides the clarity you need.

What is ITR-6: Understanding the Corporate Tax Return

ITR-6 is the designated income tax return form for companies registered under the Companies Act, 2013 (or the erstwhile Companies Act, 1956). It's the most comprehensive ITR form, requiring detailed financial disclosures, statutory information, and tax computations. The form is available exclusively through the Income Tax e-Filing Portal and must be filed electronically using a Digital Signature Certificate (DSC).

Unlike individual ITR forms, ITR-6 captures extensive corporate information, including shareholding patterns, related party transactions, financial ratios, and detailed schedules for various income heads. The form aligns with the Companies Act requirements and Income Tax Act provisions.

Who Should File ITR-6: Eligible Companies

The company income tax return India requirement through ITR-6 applies to all companies except those claiming exemption under Section 11 (charitable or religious trusts). Understanding your company's classification determines the applicable tax rates and compliance requirements.

Who Should NOT File ITR-6:

• Companies claiming exemption under Section 11 (charitable trusts, religious institutions). They use ITR-7.
• LLPs, partnership firms, and other non-corporate entities. They use ITR-5.
• Individuals holding directorships. Directors file personal ITR (1, 2, or 3) separately.

Corporate Tax Rates in India: AY 2024-25

Understanding applicable tax rates is crucial for accurate ITR 6 filing. India offers multiple tax regimes for companies, each with different rates and conditions. Check the Income Tax Act provisions for the latest updates.

*Effective rate includes surcharge and Health & Education Cess (4%)

Companies opting for Section 115BAA or 115BAB must forgo certain exemptions and deductions, including MAT credit. Once opted, the regime applies for all subsequent years. Choose carefully based on your tax planning strategy.

Documents Required for ITR 6 Filing

Comprehensive documentation is essential for accurate private limited tax filing. Gather these documents before initiating the filing process.

Statutory Documents:

• Certificate of Incorporation
• PAN and TAN of the company
• Memorandum and Articles of Association
• Board resolutions for tax matters

Financial Statements:

• Audited Profit and Loss Account
• Audited Balance Sheet
• Cash Flow Statement
• Notes to Accounts
• Statutory Auditor's Report

Tax and Compliance Documents:

• Form 26AS (Annual Tax Statement)
• Tax Audit Report (Form 3CA/3CB and 3CD)
• Transfer Pricing Report (Form 3CEB) if applicable
• Advance tax challans
• GST returns (annual return GSTR-9)
• MAT/AMT computation workings

Step-by-Step ITR 6 Filing Process

Filing ITR-6 involves multiple schedules and complex computations. For professional assistance, consider using an ITR-6 Filing Service to ensure accuracy and compliance.

Step 1: Complete Statutory Audit

All companies must get their accounts audited under the Companies Act. The statutory auditor signs off on the financial statements and provides the audit report. This must be completed before tax filing.

Step 2: Conduct Tax Audit (if applicable)

If your company's turnover exceeds Rs. 1 crore (business) or Rs. 50 lakh (profession), a separate tax audit under Section 44AB is required. The tax auditor uploads Form 3CA/3CB and 3CD to the portal.

Step 3: Prepare Tax Computation

Calculate taxable income by adjusting book profits for disallowances, depreciation differences, and carry forward losses. Compute MAT under Section 115JB if applicable. Determine the tax regime (normal or Section 115BAA/BAB).

Step 4: Login and Access Form

Access the Income Tax portal using the company's credentials. Navigate to e-File, Income Tax Returns, and select ITR-6. Choose the assessment year and filing type (Original or Revised).

Step 5: Fill All Schedules

ITR-6 contains numerous schedules, including Part A-General Information, Schedule BP (Business Income), Schedule P&L, Schedule BS (Balance Sheet), Schedule CG (Capital Gains), Schedule OS (Other Sources), Schedule VI-A (Deductions), Schedule MAT, and Schedule SI (Shareholding Information).

Step 6: Validate and Submit

Run validation checks to identify errors. Pay any outstanding tax liability. Submit the return using the authorised signatory's Digital Signature Certificate (DSC). DSC is mandatory for all company filings.

Due Dates and Compliance Calendar

ITR-6 Filing Due Dates:

• Companies without transfer pricing: October 31 of the assessment year
• Companies with international transactions: November 30 of the assessment year
• Revised return: Before December 31 of the assessment year or before completion of assessment

Penalties for Non-Compliance:

• Late filing fee: Rs. 5,000 under Section 234F (Rs. 1,000 if total income < Rs. 5 lakh)
• Interest on unpaid tax: 1% per month under Sections 234A, 234B, 234C
• Prosecution: Wilful failure to file can lead to imprisonment up to 7 years under Section 276CC

Conclusion: Ensuring Corporate Tax Compliance

ITR 6 filing represents one of the most critical annual compliance requirements for companies in India. From understanding applicable tax rates to gathering comprehensive documentation, each step demands attention to detail. The corporate tax return form 6 captures extensive financial information that must align with your statutory audit, making coordination between auditors and tax advisors essential.

Whether you're handling company income tax return India obligations for a startup or a large corporation, timely and accurate filing protects your company from penalties and legal complications. Given the complexity of ITR-6 schedules and the mandatory DSC requirement, engaging qualified professionals is highly recommended. Start early, maintain proper records, and ensure compliance with both Companies Act and Income Tax Act requirements.