All the taxpayers including Individuals, HUFs, Firms, Companies, all are accountable to Income Tax Department as they are required to file their Income tax returns. The proper way to select various return forms lies upon the income earned by an assessee. Company which is a separate legal entity is required to file ITR in ITR 6. Here, is the few details regarding ITR 6 Form used by the companies.

Who can use ITR 6?

ITR-6 can be used by a company, other than a company claiming exemption under section 11.

Relevant Points of ITR 6:

1. All companies are mandatorily required to file their return in ITR 6 by 30^th September of the assessment year corresponding to previous year.
2. All companies should submit their return electronically using digital signature. No ITR will be acceptable unless a digital signature is attached to it.
3. The digital certificate while filing return should be that of the Authorized Signatory i.e., in case of Company, DSC of Managing Director / Director of the company.
4. Digital Signature of any director can be used for filing return.
5. Few Consequences of late filing of return:

• Return cannot be revised.
• Any loss either business loss (Speculation or otherwise), capital loss, loss due to owning and maintaining race horses cannot be carry forwarded.
• Loss of Interest on refund u/s 244A.
• Interest u/s 234A will be charged.