Income Tax Return Form 6
ITR Form 6 is the Income Tax Return form which is used by the companies to e-file Income Tax Return. If they fail to make exemption under Section 11 of the Income Tax Act 1961. According to the existing Income Tax rules, companies can claim exemption u/s 11 are those who have income from property that is held for charitable or religious purposes.
Process to download ITR Form 6
One can download ITR Form 6 for free from the official website of the Income Tax Department. Yet they are no offline tools available by the Income Tax Department for filing ITR6.
https://www.incometaxindia.gov.in/forms/income-tax%20rules/2019/itr6_english.pdf
ITR Form 6 Structure
The Income Tax Return Form 6 consists of two parts:
Part A and Part B along with multiple schedules that capture various income and tax aspects of the business using ITR 6 to file income tax returns.
Following are some of the key sections of ITR Form 6
ITR Form 6 Part A ‘s General Section fills out with the basic details of the Income Tax assessee such as Name, PAN, Corporate Identity Number , Complete address, date of incorporation, etc.
Some additional company details that may have to provided, if applicable include Holding Status, Key Holders, Business Organisation, Shareholder Formation, etc.
ITR 6 Part A – Balance Sheet
Part A – Balance Sheet or Part A – BS is to be filled out with details of the balance sheet of the company as on 31st March of the applicable financial year or amalgamation of the company. Some of the key details of be provided in this section include shareholder’s fund, share application money pending allotment, non-current liabilities, current liabilities, assets and more.
ITR 6- Part A- Manufacturing Account
ITR 6 PART A- Trading Account
Trading Account subsection needs to be filled out with details of debits and credits occurring in the company’s trading account during the applicable financial year.
