ITR-6

What is ITR - 6?

The companies that are other than those companies that are claiming exemption u/s 11 should furnish their ITR in form ITR - 6.

Which Companies Can Claim Exemption Under Section 11?

Companies that are claiming exemption u/s 11 are the companies who are getting income through some property that is held for religious purpose or charity.

Structure of ITR - 6 Form

The structure of the ITR - 6 form is as follows:

• Part A: General Information
• Part BS of Part A: The Balance Sheet on March 31st, 2019
• Part BS of Part A – Ind AS Balance Sheet as per March 31st, 2019 or according to the business combination's date.
• Part A: Trading Account for FY 2018 – 19
• Part A: Manufacturing Account for FY 2018 – 19
• Part A – P & L: Profit and Loss Account for the FY 2018 – 19
• Part A – Trading Account Ind – AS: Account for Trading for the FY 2018 – 19
• Part A – Manufacturing Account – Ind AS Account for Manufacturing for FY 2018 – 19
• Part A – P & L Ind – AS: Account of Profit and Loss for the FY 2018- 19
• Part A – QD: Quantitative Details
• Part A – OI: Other Information
• Part A – OL: Payment and receipt account of the company in liquidation
• Part B – TI: Total Income's computation
• Part B – TTI: Tax liability of total income computation

Tax Payment:

• All the details of the payments of Self Assessment Tax and Advance Tax.
• All the details of Tax Collected at the Source (TCS).
• All the details of Tax Deducted at the Source (TDS) over the Income (According to Form 16B/ 16A/ 16C).

42 Schedules of this Form are:

• Schedule – BP: Income's computation under the head ‘profit & gains from the business or profession'.
• Schedule – HP: Income's computation under the head of Income from House Property.
• Schedule DPM: Plant and machinery depreciation's computation IT Act.
• Schedule DEP: Depreciation summary of all the assets under the IT Act.
• Schedule DOA: Other assets depreciation's computation under the IT Act.
• Schedule DCG: Deemed capital gains' computation on the sale of depreciable assets.
• Schedule CG: Income's computation under ‘Capital Gains' head.
• Schedule ESR: Deduction u/s 35 (expenditure on scientific research).
• Schedule OS: Income's computation under ‘Income from other sources' head.
• Schedule BFLA: Income's statement after setting off the unabsorbed losses that are brought forward from previous years.
• Schedule CYLA: Income's statement after setting off the losses of the current year.
• Schedule CFL: Losses statement that has to be carried forward to the future years.
• Schedule ICDS: Income Computation Disclosure Standards' effect over profit.
• Schedule UD: Allowance and unabsorbed depreciation details u/s 35(4).
• Schedule 10AA: Deduction's computation as per section 10AA.
• Schedule 80GGA: Donations' details for rural development or scientific research.
• Schedule 80G: Donation's details that are eligible for deduction u/s 80G.
• Schedule RA: Donations' details given for research associations, etc.
• Schedule 80IB: Deduction's computation u/s 80IB.
• Schedule 80IA: Deduction's computation u/s 80IA.
• Schedule 80IE or 80IC: Deduction's computation u/s 80IE or 80IC.
• Schedule SI: Income's statement that is chargeable to tax at some specific rates.
• Schedule VIA: Deduction's statement from the total income as per Chapter VIA.
• Schedule PTI: Details of pass-through income from an investment fund or business trust.
• Schedule MAT: Minimum Alternation Tax's computation that is payable u/s 115JB.
• Schedule DDT: Payment's details of Dividend Distribution Tax.
• Schedule MATC: Tax credit's computation u/s 115JJA.
• Schedule BBS: Tax details on the distributed income of the domestic company to buy back the shares that are not listed in the stock exchange.
• Schedule IT: Payment's statement of the self-assessment tax and advance-tax.
• Schedule ESI: Income details from tax relief and outside India.
• Schedule TDS: Tax deducted at the source's statement on income that is other than the salary.
• Schedule FSI: Income details that are arising or occurring outside India.
• Schedule TCS: Tax collected at source's statement.
• Schedule TR: Tax relief's summary that is claimed for the taxes that are paid outside India.
• Schedule SH – 1: Unlisted company's shareholding.
• Schedule FA: Income and foreign assets details from any source that is outside India.
• Schedule SH – 2: Startup's shareholdings.
• Schedule AL-1: Liabilities and assets as by the end of the year.
• Schedule GST: Information related to gross receipt and turnover that is reported for GST.
• Schedule AL-2: Liabilities and assets as by the year-end (this is applicable for the start-up companies only).
• Schedule FD: Receipts/ payments break-ups in foreign currency.

Important Changes in Form ITR - 6

The main changes that are made in the ITR - 6 form are mentioned below:

• Recognition details as a start-up through DPIIT.
• Donations' bifurcation in non-cash and cash mode of the payment.
• Declaration details filed in Form - 2.
• Gross/ turnover receipt information that is reported for GST.