Income Tax Return-6

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ITR Form 6 or ITR 6 is an income tax return form that is used by companies to e-file income tax return if they do not claim exemption under Section 11 of the Income Tax Act, 1961. Under existing Income Tax rules, companies that can claim exemption u/s 11 are those who have income from property that is held for charitable or religious purposes.

STRUCTURE

ITR 6 is divided into Part A and Part B ( along with the sub-sections) with multiple schedules that include information relevant to the income and tax of the taxpayer. Let us have a detailed look at this.

PART A

General information:

This Sub-section should be filed with the basic details of the entity such as the Name, PAN number, address, CIN, Incorporation date, etc.

Trading Account

This sub-section requires the details that are relevant to the income and the expenditure of the company.

Balance sheet

This subsection should consist of the details of the balance sheet of the company such as the current liabilities, share capital, and more.

Manufacturing account

This Sub-section required the figures of manufacturing the accounts relating to the inventory such as opening stock, closing stock, and cost of the goods that are produced.

Profit and Loss Account

This subsection should be filed with the details of the company’s profit or the loss that is incurred during the relevant financial year.

PART B

Part B-TI

Computation of Total Income

Part B-TTI

Computation of Tax liability of the Total Income.

SCHEDULES	PURPOSE
	Bank account details.
Schedule –HP	For computing incomes under the head Income from House Property.
Schedule –BP	For computing incomes under the head “profit and gains from business and profession.
Schedule –DPM	For calculating depreciation on plant & machinery.
Schedule –DOA	For a summary of depreciation on all assets.
Schedule –DCG	For calculating the deemed capital gain on sale of depreciable assets.
Schedule –ESR	Deductions u/s 35, i.e. expenditure on scientific research.
Schedule –CG	For calculating income under the head “Capital gains”.
Schedule –OS	For calculating income from other sources.
Schedule –CYLA	Calculating the income after setting off the current year’s loss.
Schedule –BFLA	Calculation of income after setting off the unabsorbed loss of the previous year.
Schedule –CFL	Statement of loss for carrying forward to a further year.
Schedule –UD	Statements of unabsorbed depreciation and allowance.
Schedule –ICDS	Income computation disclosure standards on profit.
Schedule –10AA	Deductions u/s 10AA.
Schedule –80G	Details of deduction u/s 80G relating to donations.
Schedule –80 GGA	Statement of donations for scientific research and rural development.
Schedule –VIA	Statement of deductions from total income under chapter VI-A.

SCHEDULES	PURPOSE
Schedule –SI	Details of income chargeable at special tax rates.
Schedule –PTI	Details relating to passing through income from business trust or investment fund.
Schedule –EI	Statement of exempted incomes.
Schedule –MAT	Details of tax payable u/s 115JB (Minimum Alternate Tax).
Schedule –DDT	statement of tax paid on dividend, i.e. “dividend distribution tax”.
Schedule –BBS	Details of tax distributed income on buyback of shares.
Schedule –ESI	Statement of foreign incomes and tax relief thereto.
Schedule –IT	Details on advance-tax paid and self-assessment tax.
Schedule –TDS	Details of TDS on incomes other than salaries.
Schedule –TCS	Statement of TCS (Tax collected at source).
Schedule –FSI	Statement of income accruing outside India.
Schedule –TR	Details of tax relief claimed for foreign tax paid.
Schedule –FA	Complete details of foreign assets and foreign income.
Schedule –SH1	Details of shareholding of an unlisted company.
Schedule –SH2	Details of shareholding of start-ups.
Schedule –AL1	Statement of assets and liabilities at the end of the year.
Schedule –GST	Statement of turnover reported for GST.
Schedule –FD	Details of payment/receipt made in foreign currency.