ITR-6: Step by Step Guide to fill ITR-6 Form online
Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

  • Icon for Kotak Preferred e-Term Plan

    Kotak e-Term Plan

    Kotak e-Term Plan provides a high level of protection to your loved ones in your absence.

  • Kotak E-Invest Plan

    Kotak e-Invest plan is a complete Unit-Linked Insurance Plan that can be customized as per your goals and needs.

  • Icon for Kotak Guaranteed Savings Plan

    Kotak Guaranteed Savings Plan

    Kotak Guaranteed Savings Plan is a savings and protection plan that helps you achieve long-term financial goals and provides an insurance cover against any eventuality.

  • Icon for Kotak Preferred e-Term Plan

    Kotak Lifetime Income Plan

    Kotak Lifetime Income Plan gives you the security of your income continuing thru your life and in your absence throughout your spouse's lifetime!

  • Icon for Kotak Preferred e-Term Plan

    Kotak Health Shield

    Kotak Health Shield Plan helps secure your finances in sudden medical expenses such as Cardiac, Liver, Neuro, and Cancer (all early and significant illness stages/conditions of cancer), along with offering protection for personal accidents - in case of accidental death or disability.

Close

Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

Back

ITR-6: Guide to filing ITR-6 Form online

Term Insurance Quote
  • 12th Mar 2021
  • 869

ITR-6: Guide to filing ITR-6 Form online

ITR-6 Form applies to commercial entities not drawing income from charities or religious establishments. Such companies must report their income, profits and losses, and details about taxes paid to the income tax authority through ITR-6.

Who is eligible to file ITR-6?

If you are a company not qualifying for exemptions under Section 11 of the Income Tax Act, 1961, you must file ITR-6. Corporate bodies earning income from property designated for charitable trusts or religious purposes can claim exemptions under Section 11.

Last date for filing ITR-6

For AY 2020-21: February 15, 2021

For AY 2021-22: October 31, 2021

How to download ITR-6 Form

  • Visit the official web portal of the Income Tax Department.
  • Place your cursor over the ‘Download’ tab.
  • Click on ‘ITR Notified Forms AY 2020-21’, followed by ‘ITR-6.’
Save Tax Now

Steps to file ITR-6

ITR Form 6 must be filled and submitted digitally. You can enter the details online or fill up the downloaded soft copy and upload it to the e-filing portal.

1. Filling ITR-6 form

a. Keep your PAN, TAN, profit and loss statements, balance sheets, and book of accounts close. If your income for the relevant financial year exceeds ₹ 50 lakhs, you need to submit the ‘Assets and Liabilities’ form.

b. Login on the e-filing website using your PAN and registered password.

c. Fill out both Part A and Part B of the ITR form.

d. The Income Tax Department recommends to follow the sequence mentioned below:

  • Part A - the general information about the company, including
  • i. Name

    ii. Address

    iii. PAN

    iv. Corporate Identity Number (CIN)

    v. Date of incorporation

    vi. Email id

    vii. Mobile number

  • Schedules, such as
  • i. bank details

    ii. balance sheet data

    iii. revenue from various sources

    iv. depreciation submission

    v. spending

    vi. profit and loss details

    vii. availed deduction

    s

    viii. tax details

  • Part B - the gross income earned
  • a. Mention ‘NA’ (Not Applicable) against any field that does not apply to you.

    b. Round off all figures to the nearest rupee while entering monetary amounts.

    c. You need not attach any document with this annexure-less form.

    d. Make sure you do not provide inaccurate details. Taxpayers furnishing false statements are liable for prosecution under Section 277.

    1. Tax calculation

    Once the form fill-up is complete, you can see the tax amount you are liable to pay. The calculations take into account any tax you have paid in advance. It is advisable to tally the totals against your Tax Credit Statement Form 26AS.

    If you have already paid more tax than the amount you have to pay, the tax department will initiate your refund after filing the ITR.

    2. Return verification

    It is mandatory to verify the returns using a digital signature. Once verified, you will receive an acknowledgement number.

    3. Filing

    It is compulsory to file ITR-6 online. After you have entered all information in the relevant fields, ensure you have signed the verification. Select the designation of the person/ authority certifying the return. Then transfer the data via the electronic mode on the tax filing website.

    Things to keep in mind about changes in ITR-6 for AY 2020-21

    • A new option in the ‘Filing Status’ section on exercising of option under Section 115BAA/115BAB
    • A separate schedule to compute long-term capital gains on the sale of business units or listed equity shares subject to Security Transaction Tax (STT) under Section 112A
    • A requirement to mention the tax details about adjustments to the transfer price on the book of accounts under Section 92CR(2A)
    • Provision for including information on tax-deductible investments or expenses made between April 1, 2020, and June 30, 2020

- A Consumer Education Initiative series by Kotak Life

Also read

  • What is Challan 280? How to Pay your Income Tax Online with Challan 280?

    Challan 280 is a form which helps you to pay income tax. Know how to use challan 280 form online to pay your income tax. To Know more, Visit Now

    Read more
  • What is Form 26AS - All You Need To Know

    Click here to know what is form 26as and how it presents all the information regarding your taxes

    Read more
  • Types of Riders in Insurance Policy

    Riders in insurance are very important as it gives extra benefits to the insurance holder at slightly high premium. Read the article to know 5 differe...

    Read more

Related Plans

  • Kotak Term Plan

    Kotak Term Plan

    The Kotak Term Plan is a pure risk cover plan and an economical way of providing an adequate level of financial protection.

    Know more