ITR Filing of Company | CA Assisted Advisory on Company ITR Filing


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ITR of Companies

We make Income tax return filing very easy and simplified.

File your Company Income Tax return if you are a Director in any company with the help of Chartered Accountants who are Experts in Income Tax Law. Being a Director of the Company comes under your obligation under the Income Tax Act, 1961. You may have lots of confusion as it involves taxation aspect of your business. Request a call back here

At Compliance Ease Cure LLP, Chartered Accountants are qualified to resolve any query related to ITR filing, notice, capital gains, dividend, tax refund, tax audit applicability, tax savings, property tax, and any other query related to Income tax. For any query or problem, you may have, our experts who will assess your Company Financials and advise you for your tax return issues.

E-mail us PAN and Financials at info@complianceease.in

For inquiries, WhatsApp/Call us on 97 73 64 69 99

Income Tax Return is nothing but a prescribed form through which the particulars of income earned by a person (here in you case person means Company) in a financial year and tax payable on such income is communicated to the Income tax department after the end of the relevant financial year.

The forms used to file details of income taxes payable and Paid with Government are known as Income Tax Returns. Income tax return forms are provided for different assessesee by the IT department. It is also a complete online procedure where you need not submit any physical form to the department.

The Central Board of Direct Taxes (CBDT) has made it mandatory to file Income Tax Returns for all Companies irrespective of their income or loss. ITR-6 is prescribed form of ITR through which the particulars of income earned by Company in a financial year and taxes paid or payable on such income is communicated to the Income tax department after the end of the relevant financial year.

Let us help you understand ITR filing for Company in simple words:

A Company has to file ITR-6 at the end of the relevant financial year.

ITR Form 6 or ITR 6 is an income tax return form that is used by companies to e-file income tax return if they do not claim exemption under Section 11 of the Income Tax Act, 1961. Under existing Income Tax rules, companies that can claim exemption u/s 11 are those who have income from property that is held for charitable or religious purposes.

ITR Form 6 requires the tax assessesee to provide details of income from various sources during the applicable fiscal. Key details to be provided to tax authorities in ITR-6 include the following:

  • iconIncome from house property
  • iconProfits/gains from business or profession
  • iconCapital Gains
  • iconIncome from other sources
  • iconVarious deductions, etc.

Online Tax returns are set up in an excel worksheet & Java Formats, where the income figures are used to calculate the tax liability of persons. Tax returns are to filed every year by Company that received taxable income during the year, whether through regular income, interest, dividends, capital gains, or other profits. Even if your company paid extra tax, we are here to help you to get the refund from the Income tax department. Let our team of Chartered Accountants help you in filing your Company Tax Returns.

Documents Required for ITR of Companies

For filing Income Tax returns of your company, we need from you the accurate information on income and TDS paid. Here is a checklist of what we need for e-Filing your Income Tax returns:

  • iconFinancials: We need financials of your Company to get accurate information.
  • iconForm 26 AS: If your Company have previously filed ITR, we can access the same from Income Tax Login if you have login credentials. Form 26AS can also be downloaded through net banking if PAN is mapped to that particular account
  • iconDetails of bank accounts: We need bank account detail including the IFSC Codes. It is mandatory to give the details of all the bank account of Company for filing income tax returns ITR-6.
  • iconIt is important to note that no document should be provided with the return form when you file the ITR 6 Form. If such documents are attached to the ITR Form 6, they will be removed and handed back to you. You must match the amount of tax deducted, paid, or collected by you or on your behalf with the Tax Credit Statement in Form 26AS.

Legal Procedures for ITR of Companies

Below are the Steps for e-Filing of Income Tax Return for Company:

  • iconYou submit all the required details and documents to us.
  • iconOur Compliance Manager (Chartered Accountant) will understand your Company tax implication and liabilities over phone or video call.
  • iconPreparation of the Income Tax Return after discussing all the points in detail.
  • iconFiling of Income Tax Return with the Income Tax Department on your behalf.
  • iconOn successful submission for form, ITR-V would be displayed.
  • iconClick on the link to download the ITR-V.
  • iconITR-V will also be sent to the registered email.
  • iconIf your company’s accounts need to be audited under Section 44AB, we need to furnish the return electronically with a digital signature.
  • iconE-verify the Income Tax Return by various methods available by looking at the most feasible one for you.
  • iconCECL Team will also send you the computation of income for your understanding.

Features & Benefits for ITR of Companies

You must have heard or seen many advertisements which encourages the Company to file the income tax return with the department. But wait, what is the benefit of filing the same. Well, here are the answer which will enlighten your knowledge and encourage you to file your Company income tax return with the department. Some of them are given below:

  • iconLaw Compliant Company: The first and one of the most important benefits of filing of income tax returns is that, it ensures that the Company is compliant with the Indian Income tax laws. By staying within the time lines, the Company would be able to manage his financial affairs effectively.
  • iconLoan Requirement: If a loan (Term Loan or Working Capital Loan) is required to be obtained from any bank or financial institution, the tax returns would be required to prove the ability of the Company to repay the loans. It also becomes a proof that the Company have a regular income and have paid taxes on it and then Banks and other Financial Institutions feel comfortable in giving your Company a loan of any nature including cash credit.
  • iconTo get refund on excess tax paid (if any): If your Company’s TDS has been deducted more than its tax liability, it becomes very important that your Company file tax returns to claim tax refunds. Without filing the ITR, the Income Tax Department shall not issue tax refunds. Excess taxes paid by any Company either by way of TDS on Fixed Deposit Interests, any other Tax Deductions or advance/self-assessment tax can be refunded only by filing income tax returns.
  • iconTo carry forward the Loss: If your Company have sustained a Business loss or loss under the head “Capital Gains”, your Company can carry forward the loss only if your Company file the Income Tax Return by the due date. Therefore, if your Company have sustained a loss, you must file the Income Tax Return of the Company in time if you want to carry forward the loss for future adjustment with your Company Income. If your Company have any capital loss, you can carry it forward for the next eight consecutive financial years.
  • iconTo avoid penalty: If you do not file your Income Tax Return, the Income Tax Department may impose a penalty. If your Company do not file the Income Tax Return by the due date, you are liable to pay interest as well payable for every month after the due date till the date of filing the return.