ITR-6 Return Filing
ITR-6 return filing is the annual income tax return for companies. Almost every company registered in India — whether private limited, public limited, or a One Person Company — files ITR-6, and it must be filed electronically with a digital signature. It is a demanding return: it rests on audited financial statements, it involves choosing between the normal and concessional corporate tax regimes, and it can bring in Minimum Alternate Tax and transfer pricing. Filing it accurately and on time protects both the company's tax position and its financial credibility.
N D Savla & Associates is a firm of Chartered Accountants in Mumbai that files ITR-6 for companies of every size, from a single One Person Company to larger private limited companies, and handles the audits behind them. This guide explains what ITR-6 is, who should file it, the corporate tax rates and regimes, the audit and MAT position, the documents, the due dates, and the penalties for filing late.
The focus here is the corporate return: getting the audits and financials in order, choosing the right tax regime, and filing electronically on time.
What is ITR-6?
ITR-6 is the income tax return form for companies that do not claim exemption under Section 11 of the Income Tax Act. Section 11 covers income from property held for charitable or religious purposes, and companies claiming that exemption file ITR-7 instead. Every other company — private limited, public limited, One Person Company, and domestic or foreign — files ITR-6 to report its income for the year.
A company is a separate taxpayer, taxed on its own income at corporate rates, and ITR-6 reflects that. It is built on the company's audited financial statements, includes a full set of schedules, and must be filed online with a digital signature. Because a company is already required to have its accounts audited under the Companies Act, and often under the Income Tax Act as well, the return draws on figures that have already been examined — which makes accuracy and reconciliation central to filing it.
Who Should File ITR-6?
ITR-6 covers companies, with one exception. The table below shows who files it, and who does not.
| Company type | Files ITR-6? |
|---|
| Private limited company | Yes |
| Public limited company | Yes |
| One Person Company (OPC) | Yes |
| Domestic and foreign companies | Yes |
| Company claiming exemption under Section 11 (charitable or religious) | No — use ITR-7 |
| Individual, HUF, firm, LLP, or AOP | No — use ITR-1 to ITR-5 |
Key point: ITR-6 must be filed electronically with a digital signature. Unlike the individual returns, there is no option to e-verify by other means or to file on paper — a company files ITR-6 online, signed with its DSC.
Corporate Tax Rates and Regimes
A company is taxed at corporate rates rather than slab rates, and it can choose between the normal regime and a concessional one. The main rates are set out below.
| Regime | Rate | For whom |
|---|
| Normal rate | 30%, or 25% within the turnover limit | Companies not opting for a concessional regime |
| Section 115BAA | 22% | Domestic companies giving up specified incentives |
| Section 115BAB | 15% | New domestic manufacturing companies |
| MAT (Section 115JB) | 15% of book profit | Companies not under Section 115BAA or 115BAB |
Surcharge and the health and education cess apply in addition to these rates. The right choice of regime depends on the company's deductions and incentives.
Regime note: A domestic company can opt for 22% under Section 115BAA, or 15% for a new manufacturing company under Section 115BAB, by giving up specified deductions and incentives. Once chosen, the option generally cannot be withdrawn, so it should be decided with care. Companies not under these regimes may also face Minimum Alternate Tax on their book profit.
What ITR-6 Requires
ITR-6 is built on the company's accounts and a large set of schedules. The main parts are:
- Balance sheet and profit and loss account. The company's audited financial statements for the year, including any trading and manufacturing account.
- Computation of total income. The taxable income of the company, after depreciation and allowable expenses.
- Computation of tax liability. The tax under the chosen regime, including MAT where it applies, plus surcharge and cess.
- Detailed schedules. Depreciation, deductions, capital gains, and the many schedules the department prescribes.
- Reconciliations. The turnover and tax reconciled with the GST returns, Form 26AS, and the audit reports.
Statutory Audit, Tax Audit, and ITR-6
Companies come to ITR-6 already carrying audit obligations. Every company must have its accounts audited under the Companies Act by a statutory auditor, and where turnover crosses the limits, a tax audit under Section 44AB applies as well. Both feed into the return. Because a company is generally an audit case, its ITR-6 due date falls later in the year, and where the company has international or specified domestic transactions, a transfer pricing report is required and the due date is later still. The return has to be consistent with all of these reports, so reconciliation between the accounts, the audits, and the return is essential.
Documents Needed for ITR-6
Because ITR-6 is a corporate return built on audited accounts, the following are needed:
- PAN, CIN, and incorporation documents of the company.
- Audited financial statements — the balance sheet and profit and loss account.
- Tax audit report, where a tax audit under Section 44AB applies, and any transfer pricing report.
- GST return details for reconciliation of turnover.
- TDS, TCS, and advance tax challans, with Form 26AS, and details of any foreign assets.
Due Dates and Penalties
Because a company is generally an audit case, its due dates are the later ones:
- Audit cases. For a company subject to audit, ITR-6 is generally due by 31 October following the financial year, unless extended.
- Transfer pricing cases. Where the company has international or specified domestic transactions, the due date is 30 November, and the transfer pricing report must be filed.
- Late fee and interest. A late fee of up to Rs 5,000 applies for a belated return, along with interest on any unpaid tax.
- Carry-forward of losses. Filing on time preserves the right to carry forward business losses, which can be set off for up to eight years.
- Wider consequences. Late or incorrect filing raises the risk of scrutiny and can affect the company's creditworthiness for loans and funding.
A Worked Example
Suppose a private limited company has trading income for the year and is deciding how to be taxed. The position is:
- The company files ITR-6. As a company not claiming Section 11 exemption, it files ITR-6 electronically with its digital signature.
- The accounts are audited. Its statutory audit under the Companies Act is complete, and a tax audit is done if turnover crosses the limit.
- The regime is chosen. It compares the normal rate against 22% under Section 115BAA and picks the one that leaves it better off, checking MAT.
- The return is reconciled. Turnover is matched with the GST returns and Form 26AS before filing.
- Filing by the due date. As an audit case, the company files by 31 October, preserving the carry-forward of any loss.
How We Help with ITR-6 Return Filing
We file ITR-6 for companies end to end, from the audits and the regime choice to electronic filing and any follow-up.
- Audit and computation. We ensure the statutory and tax audits are complete and compute the company's income.
- Regime selection. We work out whether the normal rate or a concessional regime under Section 115BAA or 115BAB is better, and check MAT.
- Schedules and reconciliation. We complete the ITR-6 schedules and reconcile the return with the accounts, GST turnover, and Form 26AS.
- Filing with DSC. We file the ITR-6 electronically with the company's digital signature.
- Verification and acknowledgement. We confirm the filing and keep the acknowledgement on record.
- Post-filing support. We handle any notice, scrutiny, or transfer pricing matter and advise on advance tax.
Common Mistakes in ITR-6 Filing
- Missing the mandatory digital signature. ITR-6 must be filed electronically with a DSC; there is no other mode.
- Not reconciling with GST and Form 26AS. Turnover in the return that does not match the GST returns or Form 26AS triggers a mismatch.
- Ignoring MAT. A company with low taxable income but high book profit may still owe Minimum Alternate Tax.
- Choosing the regime without analysis. Opting into or out of Section 115BAA has lasting effects and should be a considered choice.
- Filing late. A belated return attracts a late fee, interest, and the loss of carry-forward of losses.
Why Companies Choose N D Savla & Associates
An ITR-6 sits at the top of a company's whole compliance stack — the statutory audit, the tax audit, the regime choice, MAT, transfer pricing — and it is easy to lose tax or invite scrutiny by getting one of these wrong. We manage all of it. We complete the audits, compute the income, choose between the normal and concessional regimes with a clear analysis, check MAT, reconcile the return with the accounts, GST, and Form 26AS, and file electronically with the company's digital signature by the due date. Where transfer pricing or a notice arises, we deal with it. For private limited companies, OPCs, and larger companies alike, this means a corporate return that is accurate, efficient, and filed with confidence.
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Frequently Asked Questions
What is ITR-6?
ITR-6 is the income tax return form for companies that do not claim exemption under Section 11 of the Income Tax Act. Private limited, public limited, and One Person Companies, and domestic and foreign companies, file ITR-6 electronically with a digital signature, based on their audited financial statements.
Who should file ITR-6?
Every company registered under the Companies Act, other than one claiming exemption under Section 11 for charitable or religious income, files ITR-6. This includes private limited companies, public limited companies, One Person Companies, and domestic and foreign companies.
Who cannot use ITR-6?
Individuals, HUFs, firms, LLPs, and AOPs cannot use ITR-6; they use ITR-1 to ITR-5. Companies claiming exemption under Section 11, such as charitable or religious companies, file ITR-7 instead of ITR-6.
Is ITR-6 filed with a digital signature?
Yes. ITR-6 must be filed electronically with a digital signature. Unlike the individual returns, there is no option to file on paper or to verify by other means; a company files ITR-6 online, signed with its DSC.
What are the corporate tax rates for companies?
A company is taxed at 30%, or 25% where turnover is within the prescribed limit, plus surcharge and cess. A domestic company can instead opt for 22% under Section 115BAA, or 15% for a new manufacturing company under Section 115BAB, by giving up specified incentives.
What is MAT?
Minimum Alternate Tax, under Section 115JB, is a tax of 15% of a company's book profit, plus surcharge and cess. It ensures that a company with low taxable income but high book profit still pays a minimum tax. It does not apply to companies that have opted for Section 115BAA or 115BAB.
What is the due date for ITR-6?
Because a company is generally an audit case, ITR-6 is usually due by 31 October following the financial year. Where the company has international or specified domestic transactions, the due date is 30 November, and the transfer pricing report must be filed. Dates can be extended by the department.
What documents are needed for ITR-6?
The company's PAN, CIN, and incorporation documents, its audited financial statements, the tax audit report and any transfer pricing report, GST return details for turnover reconciliation, TDS, TCS, and advance tax challans with Form 26AS, and details of any foreign assets.
File Your ITR-6 with N D Savla & Associates
Whether you run a private limited company, an OPC, or a larger company, we can complete your audits, choose the right tax regime, and file your ITR-6 electronically and on time.
N D Savla & Associates, Chartered Accountants
Suite 102, L1, Ashok Premises, Nicholas Road, Andheri (East), Mumbai 400069
Phone: +91 9821 83 26 83 | +91 9819 000 511 | +91 9167 058 000
Email: nainitsavla@savlagroup.in
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