ITR-6 Form Filing in Kolkata

ITR-6 Form Filing in Kolkata

As the financial year comes to a close, businesses across India prepare to file their income tax returns. Among the various Income Tax Return (ITR) forms, ITR-6 holds special relevance for companies (excluding those claiming exemption under Section 11). For businesses operating in a vibrant commercial hub like Kolkata, understanding ITR 6 return filing is crucial for legal compliance and efficient tax planning.

What is the ITR 6 Form?

ITR 6 is an Income Tax Return form applicable to companies other than those claiming exemption under Section 11 of the Income Tax Act, 1961. Section 11 pertains to income from property held for charitable or religious purposes; therefore, companies operating as charitable or religious trusts file a different form (ITR-7).

In essence, ITR 6 is meant for companies that generate taxable income from a business or profession.

It’s a comprehensive form that requires detailed disclosures of income, expenses, assets, liabilities, taxes paid, and more. ITR 6 must be filed electronically with a digital signature.

Who is Eligible for Filing ITR-6 Return Form in Kolkata?

The following entities in Kolkata are eligible to file ITR 6:

1. Private Limited Companies are one of the most important entities that can file ITR 6.
2. Public Limited Companies.
3. One Person Companies (OPCs).
4. Foreign Companies operating in India.
5. Limited Liability Partnerships (LLPs) that have converted into companies.
6. Companies incorporated under the Companies Act, 2013.

These are all the entities that are eligible to file the ITR form 6 to get their tax deduction income back into their account.

Conditions:

• The company must be registered under the Companies Act.
• It should be earning taxable income.
• It should not be claiming exemption under Section 11.

Who is Not Eligible to File the ITR 6 Form?

The following are not eligible to file ITR 6:

1. Companies claiming exemption under Section 11, such as Charitable institutions, religious organizations, and Trusts registered under Section 12A or 12AB, because they are not eligible to file an ITR, do not come under the slab.

2. Non-company entities, like:

• Individuals
• Hindu Undivided Families (HUFs)
• Firms
• Trusts
• Societies and Associations

These entities use different types of ITR forms, such as ITR-1, ITR-2, ITR-3, ITR-5, or ITR-7, based on their structure and the nature of their income, which involves various types of transactions.

Due Date for Filing ITR 6 Form in Kolkata

For companies required to have their accounts audited under the Income Tax Act or any other law, the due date for filing ITR-6 is October 31 of the assessment year.

Penalty for Late Filing of ITR 6 Form in Kolkata

Failing to file ITR 6 on or before the due date attracts penalties as provided under Section 234F:

Delay Period Penalty Amount

Filed after due date but before 31st December ₹5,000

Filed after 31st December ₹10,000

If total income is below ₹5 lakh ₹1,000

Other consequences of delay include:

• Loss of carry forward of certain losses will be imposed.
• Interest charge will be levied under Section 234A.
• Delayed refunds will be imposed.

Hence, timely filing is important for companies to stay compliant and avoid penalties and unnecessary legal complications.

Documents Required for ITR 6 Return Filing in Kolkata

• PAN Card (Permanent Account Number) is a very essential document.
• Aadhaar Card.
• Bank Account Details.
• Profit and Loss Statement & Balance Sheet.
• Capital Gains Statement (if any).
• TDS Certificates (Form 16A, 16B, or 16C).
• GST Registration Details (if applicable).
• Investment Proofs (for tax deductions).
• Foreign Income and Asset Details (if applicable).
• Digital Signature Certificate (DSC) of the authorized signatory.
• Previous Year’s ITR Copy for the assessment of last year income.
• Details of Investments, Loans, and Advances.
• Details of Depreciation as per Income Tax Act.

These documents are essential for accurate details for the proper computation of tax liability, so that it would become possible to complete disclosure in a prescribed manner.

Online Process for Filing ITR 6 in Kolkata

1. Login to the e-Filing Portal: Select the appropriate assessment year and select ITR 6 from the available options on the website.
2. Download the ITR 3 Form – Fill out the form using the offline utility or online mode.
3. Fill in the Required Details: Enter income details, deductions, and tax payments accurately.
4. Upload audit report if applicable (Form 3CA/3CB & Form 3CD).
5. Validate the form, generate a JSON file, and upload it through the portal.
6. Verification must be done using a Digital Signature Certificate (DSC).
7. On successful filing, download the ITR-V (acknowledgement).

Note: You can also file through a tax consultant or CA in Kolkata who specializes in corporate tax, to avoid the mistakes and unnecessary complications.

Benefits of Filing ITR 6 Return Form in Kolkata

1. Legal Compliance: Avoid legal complications, penalties, and scrutiny.
2. Claim Refunds: Get a refund of excess taxes paid via TDS or advance tax.
3. Ease of Loan Sanctions: Tax returns serve as financial proof for business loans.
4. Investor Confidence: Regular filings enhance business credibility.
5. Carry Forward Losses: Helps in carrying forward and setting off losses.
6. Avoid Interest & Penalties: Timely compliance saves money.

Why Choose Us for Filing ITR-6 Form in Kolkata?

1. Time-Saving– We handle all paperwork and submissions, saving you valuable time, and also finish the task in a time-bound manner.
2. Compliance Assurance– Avoid penalties with timely and error-free filing and work in a hassle-free manner to prevent unnecessary complications.
3. Affordable Pricing– Transparent and cost-effective services tailored to your needs, so that you get the perfect result from our services.
4. 24/7 Support– Get assistance anytime for tax queries and clarifications. We get in touch with you at every step to take care of your task.
5. Hassle-Free Process -We help you simplify your journey of filing, handling all miscellaneous formalities while saving you time and effort in an effective and efficient way. We cover each and every step from beginning to end, which starts with documentation and ends with the submission.
6. Personalized Support -Enjoy dedicated assistance at every step. Our support team works closely with you in-depth.

Whether you're a startup, SME, or established company in Kolkata, ITR 6 return filing is a very crucial compliance requirement to fulfill the formality of filing the ITR 6. Filing ITR 6 in Kolkata is an essential process for business entities and their professionals to fulfill the obligation of tax regulations. Understanding the process, due dates, and penalties ensures compliance and smooth tax management, and also avoids unnecessary tax-related complications.