ITR-6 is the Income Tax Return form exclusively for Companies in India. It’s the most complex ITR form, reflecting the intricate financial structures and compliance requirements of corporate entities.
Who is Eligible to File ITR-6?
ITR-6 must be filed by all companies registered under the Companies Act, 2013, or the Companies Act, 1956, except those claiming exemption under Section 11 of the Income Tax Act, 1961.
Companies required to file ITR-6 include
- Private Limited Companies
- Public Limited Companies
- One Person Companies (OPCs)
- Limited by Shares or by Guarantee
- Foreign Companies (if they have taxable income in India)
- Companies that do not claim exemption under Section 11 (which applies to income from property held for charitable or religious purposes).
Companies NOT eligible to file ITR-6
- Companies claiming tax exemption under Section 11 (e.g., charitable trusts, religious institutions, universities, etc.). These entities are required to file ITR-7.
Key Features of ITR-6
Mandatory E-filing with Digital Signature (DSC)
ITR-6 must be filed electronically using a valid Digital Signature Certificate (DSC) of the authorized signatory. Manual filing is not permitted.
Comprehensive Financial Statements
- Companies are required to furnish detailed financial statements, including:
- Balance Sheet
- Profit & Loss Account
- Manufacturing Account (if applicable)
- Trading Account (if applicable)
- Cash Flow Statement
Audit Requirements
For companies, an income tax audit under Section 44AB is almost always mandatory, given their turnover limits. Additionally, companies are subject to audit under the Companies Act, 2013. Details of these audit reports (Form 3CA/3CD) and the auditor must be provided in ITR-6.
No Annexures
ITR-6 is an “annexure-less” form. This means the actual audit report, financial statements, or other supporting documents are not to be physically attached to the return but must be kept ready for inspection/scrutiny by the Income Tax Department.
Due Dates for Filing ITR-6 for AY 2025-26 (FY 2024-25)
The due date for filing ITR-6 depends on the nature of the company’s transactions.
October 31, 2025
For companies whose accounts are required to be audited under the Income Tax Act (which is most companies). This is the most common due date for ITR-6.
November 30, 2025
For companies that are required to furnish a transfer pricing report (Form 3CEB) due to international transactions or specified domestic transactions.
Key Schedules and Parts of ITR-6
ITR-6 is extensive, comprising several parts and numerous schedules to capture detailed financial and tax information. Here are some of the key ones.
Part A: General Information:
- Basic details of the company (Name, PAN, Corporate Identification Number – CIN, Registration Date, Address, etc.).
- Nature of business codes.
- Filing Status (Original/Revised/Belated return, section under which filed).
- Details of shareholders and their shareholding for unlisted companies (Schedule SH-1).
- Whether the company has opted for new tax regimes (e.g., Section 115BA, 115BAA, 115BAB, 115BAC).
Part A-BS (Balance Sheet):
- Comprehensive details of assets, liabilities, and equity as of March 31st of the financial year.
- May also include Part A-BS-Ind AS if the company follows Indian Accounting Standards.
Part A-P&L (Profit and Loss Account):
- Detailed income and expenditure statement for the financial year.
- May include Part A-Manufacturing Account, Part A-Trading Account, and Part A-P&L-Ind AS.
Part A-OI (Other Information):
- Additional financial disclosures, details of certain expenses, and other specific information.
Part A-QD (Quantitative Details):
- For manufacturing/trading concerns, details of raw materials, finished goods, opening stock, purchases, sales, and closing stock.
Schedule HP: Computation of Income from House Property.
Schedule BP: Computation of Income from Profits and Gains of Business or Profession. This is a very detailed schedule requiring various adjustments as per tax laws (e.g., disallowances under Section 43B, deemed income, etc.).
Schedule DPM, DOA, DEP: Detailed schedules for computing depreciation on Plant & Machinery, Other Assets, and a summary of all depreciation, respectively, as per the Income Tax Act.
Schedule CG: Computation of Income from Capital Gains (Short-Term and Long-Term), including specific details for Section 112A (LTCG on listed equity shares/funds).
Schedule OS: Computation of Income from Other Sources (e.g., interest, dividends).
Schedule CYLA, BFLA, CFL: Schedules for Current Year Loss Adjustment, Brought Forward Losses Set-off, and Losses to be Carried Forward to future years.
Schedule UD: Details of Unabsorbed Depreciation.
Schedule ICDS: Adjustments required as per Income Computation and Disclosure Standards.
Schedule 80G, 80GGA, VIA: Details of various deductions claimed under Chapter VI-A of the Income Tax Act (e.g., donations, specific business deductions like 80IA, 80IB, 80IC, 80P, etc.).
Schedule AMT and AMTC: Computation of Alternate Minimum Tax (AMT) under Section 115JB and AMT Credit under Section 115JAA.
Schedule SI: Statement of Income chargeable to tax at special rates.
Schedule FSI, TR, FA: Details of Income from Foreign Sources, Tax Relief claimed, and Foreign Assets.
Schedule GST: Summary of turnover as per GST returns (to be reconciled with income declared).
Schedule TPSA: Secondary adjustment to transfer price as per Section 92CE(2A).
Schedule MAT and MATC: Specific to Minimum Alternate Tax.
Schedule IT: Details of Advance Tax and Self-Assessment Tax payments.
Schedule TDS/TCS: Details of Tax Deducted at Source and Tax Collected at Source.
Common Challenges Faced by Companies When Filing ITR-6
Filing ITR-6 can be complex and challenging for companies due to several reasons.
Complexity of Financial Statements and Accounting Standards
- Indian GAAP vs. Income Tax Act: Reconciling financial statements prepared under Indian Generally Accepted Accounting Principles (GAAP) or Ind AS with the specific provisions and adjustments required by the Income Tax Act (e.g., depreciation calculations, disallowances) is a significant task.
- Detailed Schedules: The sheer number and detail required in schedules like BP, Depreciation schedules, Capital Gains, etc., demand meticulous accounting and accurate data.
Tax Audit Compliance
- Mandatory Audit: Most companies are subject to mandatory tax audit under Section 44AB. Ensuring the audit is completed by the due date and the audit report (Form 3CD) is correctly prepared and uploaded is critical.
- Reconciliation with Form 3CD: The figures in ITR-6 must perfectly reconcile with the audited financial statements and the figures reported in Form 3CD. Any mismatch can lead to scrutiny.
Income Computation and Disclosure Standards (ICDS)
- Impact on Profit: Companies need to ensure that their taxable income is computed after considering the adjustments mandated by ICDS. This often requires maintaining parallel books or making specific adjustments to the P&L as per ICDS.
Minimum Alternate Tax (MAT)
- Complex Calculation: MAT computation under Section 115JB involves intricate adjustments to book profits as per the Companies Act to arrive at the “book profit” for MAT purposes. This is often a source of errors.
- MAT Credit Management: Companies need to accurately track and claim MAT credit from previous years.
Capital Gains Complexity
- Calculating capital gains on various asset classes (shares, property, mutual funds) can be complex, especially with rules related to indexation, STT-paid transactions (Section 112A), and deemed capital gains on depreciable assets.
Transfer Pricing (for applicable companies)
- Companies involved in international or specified domestic transactions with associated enterprises must prepare and submit a detailed transfer pricing study report (Form 3CEB). This is highly specialized and requires significant documentation and analysis.
Reconciliation with Form 26AS, AIS, and GST Data
- TDS/TCS Mismatches: Discrepancies between TDS/TCS as per the company’s books and what is reflected in Form 26AS/AIS can lead to issues and non-credit of taxes.
- Turnover Reconciliation with GST: The turnover declared in ITR-6 should ideally reconcile with the turnover reported in GST returns. Significant mismatches can attract notices.
Digital Signature Certificate (DSC) Issues
- Ensuring the DSC is valid, registered on the e-filing portal, and used correctly for signing the return can sometimes be a technical hurdle.
Staying Updated with Amendments
- Tax laws for companies are frequently amended (e.g., changes in tax rates, new sections for specific industries, amendments to MAT provisions, updates to ICDS). Keeping up with these changes and applying them correctly in the return is crucial.
Data Accuracy and Validation
- The e-filing utility for ITR-6 has numerous validation checks. Even small data entry errors can prevent successful submission, requiring meticulous data verification.
Timely Filing
- Missing the due date can result in heavy penalties (under Section 234F), interest on unpaid tax (under Section 234A), and loss of ability to carry forward certain losses.
Due to the complexity and the recent changes, it is highly advisable for companies to seek assistance from our qualified tax professional to ensure accurate and compliant ITR-6 filing.