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How to File ITR 6 Online - Complete Details

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December 12, 2018
As per the guidelines of income tax department, any commercial entity or a business firm or establishment that has no earnings from and the income of which does not come from any religious/charitable organization or body is mandated to use form ITR6 for filing the returns. The entities that have an income component from any religious/charitable organization seek exemption under Section 11. Therefore, ITR6 is meant for any company that does not seek or claim any exemption under Section 11.

For online return filing using ITR 6 form, following are the steps to be undertaken:

  1. Using digital signature, furnish the relevant information
  2. The furnished data is then submitted on the filing application under different applicable schedules
  3. The verification is then submitted under ITR V form

A standard ITR6 form structured in the following manner must be filled accordingly after accessing the online filing application:

  1. Part A is where the general information etc. is submitted
  2. The gross income earned from the applicable income types is submitted in Part B
  3. The details of the bank documents and other bank details are submitted in schedule BA
  4. There is Schedule HP, wherein the earnings from House Property are to be mentioned.
  5. The earnings from business or profession are submitted under schedule BP.
  6. Submission of any depreciation (regarding assets like machinery etc.) under IT Act is done in schedule DPM.
  7. Similarly, submission of any depreciation (regarding other assets) under IT Act is done in schedule DOA.
  8. A statement of depreciation on all assets is submitted in schedule DEP.
  9. In schedule DCG, the deemed capital gains (considering the sale of assets under depreciation clause) are submitted.
  10. Expenditure on scientific research is listed under schedule ESR.
  11. There is schedule OS, where the earnings from other sources are to be mentioned.
  12. The earnings that reflect after considering the current year losses are stated in Schedule CYLA.
  13. In Schedule BFLA, the earnings after set off of unabsorbed loss brought forward from previous fiscals are to be mentioned.
  14. Schedule CFL is where the details of Carry Forward Losses (to next fiscals) are mentioned
  15. Any details for unabsorbed depreciation are submitted in schedule UD.
  16. Under schedules 10A, 10AA, 10B, 10BA, 80IA, 80IB, 80IC/IE, the respective deductions under the respective sections are submitted.
  17. Any deduction applicable under Chapter VI A are submitted under schedule VI A.
  18. The calculations for Dividend Distribution Tax are submitted under schedule DDT.
  19. Any tax details regarding buy back shares are submitted under schedule BBS.
  20. The tax calculations as applicable under Section 115 JAA are submitted under schedule MATC.
  21. Tax collected at source is submitted under schedule TCS.
  22. Tax deducted at source (for salary) is submitted under schedule TDS.
  23. The details of foreign assets are submitted under schedule FA.
  24. Taxes paid outside India are submitted under schedule TR.
  25. Any earnings from a source outside India are submitted under schedule FSI.

While filing income tax returns through ITR6, it must be kept in mind that NA (Not applicable) must be mentioned where the schedule is not relevant. Also, while mentioning amounts or figures, the figure must be rounded off to the nearest rupee. No documents are to be attached while filing the return through ITR6.

HDFC Life presents HDFC Life Click 2 Invest ULIP a comprehensively beneficial unit linked insurance plan that offers tax saving option under Sections 80C and 10D of the Income Tax Act. For details, click on the mentioned link: https://www.hdfclife.com/savings-plans/sanchay-plus .

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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