ITR-6 Return Filing
About ITR-6 Return Filing
ITR 6 Form is to be furnished by the Companies to e-file the income tax returns if they are not claiming exemption under Section 11 of the Income Tax Act 1961. Under the Income-tax Rules, the Companies that can claim an exemption under section 11 are those that have income from the property that is held for the charitable or religious person.
Who is eligible to file ITR 6 Form?
- ITR 6 Form is to be filed by every company irrespective of its structure registered under the Companies Act 2013 or the earlier Companies Act 1956. However, the companies whose source of income comes from the property that is held for religious or charitable purposes are not required to file ITR 6 Form.
- If the sales, turnover, or gross receipts are more than Rs.1 crore in the preceding financial year the entity must get the accounts audited from a certified Chartered Accountant.
Who is not eligible to file ITR 6 Form?
The companies who have sources of income from religious or charitable organizations can seek exemption under Section 11. In simpler words, an entity that is seeking exemption under Section 11 should not file ITR 6 Form.
Documents Required For ITR-6 Return Filing
- Monthly Purchase Bill
- Monthly Sales Bill
- Sales Return Details
- Purchase Return Details
- Tax Paid Challans for GST
- From 26AS
- Day to day Administration expenses and General expenses details
- Rental Agreement (if applicable)
- Fixed Assets Invoice Copy (if Applicable)
- Investment details made by Cash
- Investment details made through Bank
- Proof of Source of Cash In-flow and Cash Out-flow
- Loan details from Bank or Third Party
- Outstanding receivables and payables
- Company’s Pan and two DSCs
- Details of Bank used for business transactions (Acct No, IFSC Code)
- Statement from Bank used for business transactions
- Break-up of statement from Bank used for business transactions
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ITR-6 Return Filing FAQ's
Companies other than companies that claim an exemption under Section 11 should furnish their income tax return in ITR 6 Form.
Companies having income from property that is held for charitable or religious purposes than companies claiming exemption under Section 11.
ITR 6 should be filed in the following sequence: Part A Schedules Part B Verification
No documents, not even the TDS certificate should be attached while filing ITR 6 returns. The taxpayers are advised to match the deducted taxes on behalf of.