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ITR-6

If a company does not qualify for an exemption under Section 11 of the Income Tax Act of 1961, they must submit an ITR 6 Form in order to electronically file their income tax returns. Businesses that receive income from real estate held for charity or religious purposes are eligible to seek an exemption under Section 11 of the Income-tax Regulations.

Who is eligible to file ITR 6 Form?

  • Regardless of whether a company is registered under the 2013 Companies Act or the 1956 Companies Act, the ITR 6 Form must be submitted by all companies. However, businesses that derive their revenue from assets held for charitable or religious reasons are exempt from filing ITR 6 Form.
  • The entity must have the accounts audited by a certified Chartered Accountant if sales, turnover, or gross receipts exceeded Rs. 1 crore in the prior financial year.

Documents Required for Business Tax Return Filing ITR-6 return filing:

Who is eligible to file ITR 6 Form?

Companies that receive revenue from charitable or religious groups may apply for exemptions under Section 11. To put it another way, an entity that wants to be exempted from Section 11 shouldn't file an ITR 6 Form.

  • Company's pan and two DSCs
  • Loan details from the bank or third party
  • Outstanding receivables and payables
  • Details of the bank used for business transactions (account number, IFSC code)
  • Statement from the bank used for business transactions
  • A breakdown of a bank statement used for business transactions
  • Rental Agreement, if any
  • Proof of rental income, if any
  • Savings Certificate/ Deductions eligible to claim U/S 80C
  • Form 26AS
  • monthly purchase bill & returns
  • Monthly Sales Bill & Sales returns
  • Challans for GST Tax Paid
  • Day-to-day administration expenses and general expense details
  • Fixed Assets Invoice Copy (if applicable)
  • Investment details made with cash
  • Investment details made through the bank
  • Proof of Cash Inflow and Cash Outflow Sources
  • Outstanding receivables and payables
  • Bank Statement for the period starts from 1st April to 31st March.
  • Bank loan information
  • Proof of foreign income (if applicable)
  • Details of Foreign Assets (if applicable)
  • Proof of Cash Inflow and Cash Outflow Sources
 
     
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