Overview
Income Tax Return filing for a company is a mandatory annual compliance under the provisions of the Income Tax Act. Every company registered in India, whether it is a Private Limited Company, Public Limited Company, or One Person Company, is required to file its Income Tax Return irrespective of profit or loss. Even if the company has not carried out any business activity during the financial year, filing of return is compulsory to maintain active tax status and avoid penalties.
Companies are required to file their return using ITR 6 form, which is specifically prescribed for companies other than those claiming exemption under section 11. The return must be filed electronically with digital signature of the authorised director. The due date for filing is generally 31st October of the assessment year if the company is subject to audit under the Act. In case transfer pricing provisions apply, the due date may be 30th November. Proper computation of income, reporting of expenses, depreciation, TDS, advance tax, and MAT provisions is very important to ensure accuracy.
ITR filing for companies involves detailed disclosure of financial statements including Balance Sheet and Profit and Loss Account. It must match with financials filed with the Ministry of Corporate Affairs. Any mismatch between ROC filings and Income Tax filings may result in notices. Companies are also required to comply with tax audit provisions by filing Form 3CA 3CB and Form 3CD wherever applicable. Late filing attracts penalty and interest under various sections and may also restrict carry forward of losses.
At Bizglobal, we provide complete support for company ITR filing including tax computation, review of financial statements, audit coordination, preparation and filing of ITR 6, and compliance with tax audit requirements. Our team ensures accurate reporting, timely submission, and proper reconciliation with ROC data. We also assist in handling income tax notices and scrutiny cases, ensuring that your company remains fully compliant and financially secure.
