Team IN Filings

Income Tax

ITR 6 Return Filling

Every Indian Resident with any source of income is required to pay tax to the government in the form of Income Tax. The government imposes tax on every entity such as individuals, HUFs, Companies, LLPs, Association of Person, Body of Individuals, and any artificial judicial person. Income Tax Return is the form filed to furnish the information to the government about Income incurred along with tax liability. The form filed would vary depending upon the type of entity filing the return.

ITR-6 Return Filing Features

The Form has been divided into two parts Part A and B:

Part A: General information
Part A-BS: Balance Sheet as on 31st March 2019
Part A-BS-Ind AS: Balance Sheet as on 31st March 2020 or as on the date of the business combination
Part A-Manufacturing Account for the financial year 2019-20
Part A-Trading Account for the financial year 2019-20
Part A-P&L: Profit and Loss Account for the financial year 2019-20
Part A-Manufacturing Account-Ind AS: Manufacturing Account for the financial year 2019-20
Part A-Trading Account Ind-AS: Trading Account for the financial year 2019-20
Part A-P&L Ind-AS: Profit and Loss Account for the financial year 2019-20
Part A-OI: Other information
Part A-QD: Quantitative details
Part A-OL: Receipt and payment account of company under liquidation
Schedules as mentioned below
Part B-TI: Computation of total income
Part B-TTI: Computation of tax liability on total income

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

Process of ITR6 Registration

Checklist

This income tax return has to be compulsorily furnished electronically under digital signature to the Income Tax Department.

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