ITR-6(COMPANIES)

ITR 6 is a form of income tax return that companies use to e-file income tax returns. Companies that are not qualified for an exemption under Section 11 of the Income Tax Act, 1961 must file their income tax returns in ITR-6 format. On the income tax department’s e-filing platform, you can submit ITR 6 electronically. You must also provide the details of the audit of the books of accounts, in addition to the profit and loss, deductions, balance sheet, and other important information that are required. Furthermore, you can only validate ITR 6 using the authorized signatory’s digital signature. Taxpayers who file ITR 6 do not have access to the other verification options.

Now let us see who is eligible to file the ITR 6 form. This form is typically used by an assessee who is a company as defined by section 2(17) of the Income Tax Act of 1961. However, any corporation that must file an ITR 7 cannot choose ITR 6. According to section 2(17), the below mentioned are considered as a company that is eligible to file ITR 6.

• A general or specific order of the board converts an institution, association, or entity into a corporation. It doesn’t matter if the institution, association, or body is incorporated or not, or if it’s Indian or not.
• A domestic Indian corporation formed under the Companies Act of 2013
• A foreign corporation is a body corporate or a company formed under the laws of a nation other than India.

Below is a list of taxpayers who are not required to file an ITR-6 Form.

• Individuals, Hindu Undivided Families (HUFs), Businesses, Associations of Persons (AOPs), Bodies of Individuals (BOIs), Local Authorities, and Artificial Judiciary Persons
• Companies claiming a section 11 exemption (Income from property held for charitable or religious purposes)