The Income Tax Department has officially released the Excel utility for Income Tax Return (ITR)-6 for Assessment Year (AY) 2026-27 on its e-filing portal. This release allows eligible companies to commence the process of filing their annual tax returns.
Who Must File ITR-6?
ITR-6 is specifically designed for companies registered under the Companies Act that do not claim tax exemptions under Section 11 of the Income-tax Act. This typically includes the majority of private and public limited companies, as well as other corporate entities engaged in business or commercial activities.
Crucially, companies that derive income from property held for charitable or religious purposes and claim exemption under Section 11 are not eligible to use ITR-6. These entities are instead required to file their returns using ITR-7. Unlike individual taxpayers, who select their ITR form based on income sources, companies choose ITR-6 based on their legal structure and tax classification.
Information Required for ITR-6
The ITR-6 form is notably more detailed than the return forms used by individual taxpayers, requiring comprehensive financial and compliance-related disclosures from companies. Key information points include:
- Detailed balance sheets and profit and loss accounts
- Information related to tax audits
- Share capital and shareholding specifics
- Corporate tax computations
- Other statutory disclosures relevant to corporate entities
This extensive form aims to capture a complete picture of a company's financial health, tax obligations, and adherence to regulatory requirements, distinguishing it from simpler forms like ITR-1, ITR-2, or ITR-3, which serve individual taxpayers.
ITR-6 Filing Deadlines for AY 2026-27
The due date for filing ITR-6 varies based on a company's specific compliance obligations:
- November 30, 2026: This deadline applies to companies covered under transfer pricing provisions. The same date is also applicable to companies that are partners in firms subject to transfer pricing audit requirements.
- October 31, 2026: This is the general due date for all other companies mandated to file ITR-6.
Consequences of Delayed Filing
Companies that fail to submit their ITR-6 within the stipulated deadlines may face financial penalties, including a late filing fee under Section 234F of the Income-tax Act. Furthermore, delayed filing can lead to the forfeiture of the ability to carry forward certain business losses, subject to the applicable legal provisions.
For companies where a tax audit is compulsory, it is essential to ensure that the audit report is submitted within its prescribed timeline, prior to the income tax return filing.