All About ITR-6 Form

ITR-6 Form

Let us know what is ITR-6 Form

Companies that are not claiming exemption under section 11 must file income tax return in ITR-6 form

What are the organizations guaranteeing exceptions under area 11? 

Organizations asserting exclusion under segment 11 are those whose salary from the property is held for beneficent or strict purposes (charitable and religious).

E-recording review reports or E-Filing the audit reports

On the off chance that the assessee is at risk for Audit u/s 44AB and the records have been examined by a bookkeeper, the subtleties of such review report, auditor alongside the date of outfitting it to the division electronically must be given.



Let us try to know what is the structure of the ITR-6 Form

The Form has been isolated into two sections and a few schedules:

  • Section A: General data
  • Section A-BS: Balance Sheet as of 31st March 2019
  • Section A-BS-Ind AS: Balance Sheet as of 31st March 2020 or as on the date of the business blend
  • Section A-Manufacturing Account for the budgetary year 2019-20
  • Section A-Trading Account for the budgetary year 2019-20
  • Section A-P&L: Profit and Loss Account for the budgetary year 2019-20
  • Section A-Manufacturing Account-Ind AS: Manufacturing Account for the budgetary year 2019-20
  • Section A-Trading Account Ind-AS: Trading Account for the budgetary year 2019-20
  • Section A-P&L Ind-AS: Profit and Loss Account for the budgetary year 2019-20
  • Section A-OI: Other data
  • Section A-QD: Quantitative subtleties
  • Section A-OL: Receipt and installment record of the organization under liquidation
  •  Schedules as referenced beneath
  • Part B-TI: Computation of absolute salary
  • Part B-TTI: Computation of duty risk on complete salary

Duty instalments or Tax payments:

  1. Details of instalments of Advance Tax and Self-Assessment Tax
  2. Details of Tax Deducted at Source (TDS) on Income (according to Form 16A/16B/16C)
  3. Details of Tax Collected at Source (TCS)

The 42 Schedules are: 

  • Schedule BP: Computation of pay under the head “benefit and gains from business or calling”
  • Schedule DPM: Computation of devaluation on plant and apparatus under the Income-charge Act
  • Schedule DOA: Computation of devaluation on different resources under the Income-charge Act
  • Schedule HP: The reckoning of pay under the head Income from E-state.
  • Schedule DEP: Summary of devaluation on all the advantages under the Income-charge Act
  • Schedule DCG: Computation of considered capital additions marked down of depreciable resources
  • Schedule ESR: Deduction under area 35 (consumption on logical exploration)
  • Schedule CG: Computation of salary under the head Capital additions.
  • Schedule OS: Computation of salary under the head Income from different sources.
  • Schedule CYLA: Statement of salary after set-off of current year’s misfortunes
  • Schedule BFLA: Statement of salary after set-off of unabsorbed misfortune presented from before years.
  • Schedule CFL: Statement of trouble to be conveyed forward to the coming years.
  • Schedule – UD: Details of unabsorbed devaluation and recompense under segment 35(4)
  • Schedule ICDS: Effect of Income Computation Disclosure Standards on benefit
  • Schedule 10AA: Computation of allowance under area 10AA
  • Schedule 80G: Details of gift entitled for allowance under area 80G
  • Schedule 80GGA: Details of gifts for logical examination or rustic turn of events
  • Schedule RA: Details of gifts to investigate affiliations and so on
  • Schedule 80IA: Computation of allowance under area 80IA
  • Schedule 80IB: Computation of allowance under area 80IB
  • Schedule 80IC or 80IE: Computation of allowance under area 80IC or 80 IE
  • Schedule VIA: Statement of allowances (from complete pay) under Chapter VIA.
  • Schedule SI: Statement of pay which is chargeable to charge at exceptional rates
  • Schedule PTI: Pass through salary subtleties from business trust or speculation reserve
  • Schedule EI: Statement of Income excluded from complete pay (absolved livelihoods)
  • Schedule MAT: Computation of Minimum Alternate Tax payable under area 115JB
  • Schedule MATC: Computation of tax reduction under segment 115JAA
  • Schedule DDT: Details of instalment of Dividend Distribution Tax
  • Schedule BBS: Details of assessment on disseminated pay of homegrown organization on the repurchase of offers, not recorded on stock trade
  • Schedule TPSA: Secondary change in accordance with move cost according to segment 92CE(2A)
  • Schedule FSI: Details of salary from outside India and duty help
  • Schedule TR: Summary of expense help asserted for charges paid external India
  • Schedule FA: Details of Foreign Assets and pay from any source outside India
  • Schedule SH-1: Shareholding of unlisted organization
  • Schedule SH-2: Shareholding of Start-ups
  • Schedule AL-1: Assets and liabilities as toward the year’s end
  • Schedule AL-2: Assets and liabilities as toward the year’s end (material for new businesses as it were).
  • Schedule DI: Schedule of assessment sparing speculations or stores or instalments to guarantee allowance or exclusion in the all-encompassing period from 1 April 2020 until 30 June 2020.
  • Schedule GST: Information with respect to turnover/net receipt announced for GST.
  • Schedule FD: Break-up of instalments/receipts in Foreign cash.

Changes In ITR-6

Let us come to the significant changes in the ITR-6 Form in AY 2019-20 are summed up underneath:

  • Subtleties of an acknowledgment as a beginning up by DPIIT 
  • Subtleties of affirmation recorded in Form-2
  • Bifurcation of gifts into money and non-money method of instalment
  • Data on turnover/net receipt announced for GST

Filing the ITR-6 Form

Succession for rounding out parts and schedules.

The Income Tax Department encourages evaluates to follow the grouping referenced beneath while rounding out the pay expense form.

  • Section A
  • Schedules
  • Section B
  • Check (verification)

This pay government form (Income tax Return Form) must be obligatorily outfitted electronically under advanced mark to the Income Tax Department.

No report (counting TDS declaration) ought to be joined with this return structure while recording ITR-6. Taxpayers are encouraged to coordinate the expenses deducted/gathered/paid by or in the interest of them with their Tax Credit Statement Form 26AS.

Fill up the necessary data in the Verification record. Strikeout whatever isn’t relevant. Kindly guarantee that the confirmation has been marked before outfitting the return. Choose the assignment/limit of the individual marking the return.

Note that any individual creation a bogus explanation in the return or the going with plans will be obligated to be arraigned under area 277 of the Income-charge Act, 1961, and on conviction be culpable under that part with thorough detainment and with fine.