ITR-6 Form

A comprehensive guide to understanding the ITR-6 Form

What is the ITR-6 Form?

Companies other than companies claiming exemption under section 11 must furnish their income tax must in ITR-6 Form.

What are the companies claiming exemptions under section 11?

Companies claiming exemption under section 11 are those whose income from property is held for charitable or religious purposes.

E-filing audit reports

If the assessee is liable for Audit u/s 44AB and the accounts have been audited by an accountant, the details of such audit report along with the date of furnishing it to the department has to be filled under the head “Audit Information.”

From AY 2013-14, if a taxpayer is required to furnish an audit report under sections 10(23C)(iv), 10(23C)(v), 10(23C)(vi), 10(23C)(vi a), 10A, 12A(1)(b), 44AB, 80-IA, 80-IB, 80-IC, 80-ID, 80JJA, 80LA, 92E or 115JB, he shall file the report electronically on or before the date of filing the return of income.

What is the structure of the ITR-6 Form?

The Form has been divided into two parts and several schedules:

• Part A: General information
• Part B: Outline of the total income and tax computation with respect to income chargeable to tax.

The 33 schedules are:

• Schedule BA: Details of Bank account
• Schedule-HP: Computation of income under the head Income from House Property
• Schedule-BP: Computation of income under the head “profit and gains from business or profession”
• Schedule-DPM: Computation of depreciation on plant and machinery under the Income-tax Act
• Schedule DOA: Computation of depreciation on other assets under the Income-tax Act
• Schedule DEP: Summary of depreciation on all the assets under the Income-tax Act
• Schedule DCG: Computation of deemed capital gains on sale of depreciable assets
• Schedule ESR: Deduction under section 35 (expenditure on scientific research)
• Schedule-CG: Computation of income under the head Capital gains.
• Schedule-OS: Computation of income under the head Income from other sources.
• Schedule-CYLA: Statement of income after set off of current year’s losses
• Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years.
• Schedule- CFL: Statement of losses to be carried forward to future years.
• Schedule –UD: Details of unabsorbed depreciation
• Schedule- 10A: Computation of deduction under section 10A
• Schedule- 10AA: Computation of deduction under section 10AA
• Schedule- 80G: Details of donation entitled for deduction under section 80G
• Schedule- 80IA: Computation of deduction under section 80IA
• Schedule- 80IB: Computation of deduction under section 80IB
• Schedule- 80IC or 80IE: Computation of deduction under section 80IC or 80 IE
• Schedule-VIA: Statement of deductions (from total income) under Chapter VIA.
• Schedule-SI: Statement of income which is chargeable to tax at special rates
• Schedule-EI: Statement of Income not included in total income (exempt incomes)
• Schedule-MAT: Computation of Minimum Alternate Tax payable under section 115JB
• Schedule-MATC: Computation of tax credit under section 115JAA
• Schedule-DDT: Details of payment of Dividend Distribution Tax
• Schedule BBS: Details of tax on distributed income of domestic company on buy back of shares, not listed on stock exchange
• Schedule-IT: Statement of payment of advance-tax and tax on self-assessment.
• Schedule-TDS: Statement of tax deducted at source on income other than salary.
• Schedule-TCS: Statement of tax collected at source
• Schedule FSI: Details of income accruing or arising outside India
• Schedule TR: Details of Taxes paid outside India
• Schedule FA: Details of Foreign Assets

How do I fill out the ITR-6 Form?

Instructions for filling out ITR-6

• If any schedule is not applicable score across as “—NA—“.
• If any item is inapplicable, write “NA” against that item.
• Write “Nil” to denote nil figures.
• Except as provided in the form, for a negative figure/ figure of loss, write “-” before such figure.
• All figures should be rounded off to the nearest one rupee. However, the figures for total income/ loss and tax payable be finally rounded off to the nearest multiple of ten rupees.

Sequence for filling out parts and schedules

The Income Tax Department advises assesses to follow the sequence mentioned below while filling out the income tax return.

• Part A
• Schedules
• Part B
• Verification

How do I file my ITR-6 Form?

This income tax return has to be compulsorily furnished electronically under digital signature to the Income Tax Department.

No annexures required

No document (including TDS certificate) should be attached with this return form while filing ITR-6. All such documents enclosed with this Return Form will be detached and returned to the person filing the return. Taxpayers are advised to match the taxes deducted/collected/paid by or on behalf of them with their Tax Credit Statement Form 26AS.

How to fill out the verification document?

Fill up the required information in the Verification document. Strike out whatever is not applicable. Please ensure that the verification has been signed before furnishing the return. Write the designation of the person signing the return.

Note that any person making a false statement in the return or the accompanying schedules shall be liable to be prosecuted under section 277 of the Income-tax Act, 1961 and on conviction be punishable under that section with rigorous imprisonment and with fine.