ITR Filing for Companies - CA Arpit Gupta

Every year, registered companies in India must have filed an Income Tax Return. This rule applies to a company that earns a big profit, a company that earns a small profit, and even a company that has made a loss or has no business activity. Missing this duty can bring a late fee, interest, a penalty, and loss of tax benefits.

Company tax filing is more detailed than a personal return. It needs audited accounts, the right tax option, correct use of ITR-6, and a Digital Signature Certificate. This guide explains the full process in simple words, and shows how CA Arpit Gupta can handle it for you.

Is ITR Filing Compulsory for Every Company?

Yes. Under the Income Tax Act, every company must file a return, whether it earns a profit or not. This covers:

• Private limited companies
• Public limited companies
• One Person Companies (OPC)
• Section 8 companies (non-profit)
• Nidhi companies and producer companies
• Foreign companies earning income in India
• Companies that are dormant or have not started business yet

Important: A company with zero income or a loss still has to file. Filing on time also lets the company carry forward its losses to future years.

What Is ITR-6?

ITR-6 is the return form for companies. All companies use it, except those that claim exemption under Section 11 (income from property held for charitable or religious purposes). Those companies use ITR-7.

ITR-6 asks for many details, such as:

• Balance sheet and profit and loss account
• Details of directors and shareholders
• Audit information
• Income from companies, capital gains, house property, and other sources
• Deductions and tax credits claimed
• Details of loans, advances, and share capital
• Tax paid, TDS, TCS, and advance tax

Section 115BAA: Lower Tax Option for Companies

Many companies choose Section 115BAA because the base rate is only 22%. Here is what you should know:

Because this choice is permanent, a CA should compare both options before you decide.

Minimum Alternate Tax (MAT)

If your company follows regular rules and shows a low taxable income because of many deductions, MAT applies. Under Section 115JB, the company must pay tax at 15% of its book profit, plus surcharge and cess, if this is higher than normal tax. The MAT paid can be carried forward and adjusted against future tax, within the time limit allowed by law.

Tax Audit and Company Audit: Know the Difference

A company that falls under tax audit must file the audit report (Form 3CA-3CD) before filing the return. A delay can bring a penalty of 0.5% of turnover, up to ₹1.5 lakh.

Documents Needed for Company ITR Filing

• PAN and TAN of the company
• Certificate of incorporation, MOA, and AOA
• Audited financial statements (balance sheet, profit and loss account, notes)
• Tax audit report, if applicable
• Bank statements of all company accounts
• Sales and purchase records
• GST returns and annual return
• Form 26AS and Annual Information Statement (AIS)
• TDS certificates for tax deducted by customers
• Details of directors, shareholders, and their shareholding
• Loan and interest statements
• Fixed asset register and depreciation details
• Details of related party transactions
• Details of foreign transactions, if any
• DSC (Digital Signature Certificate) of the authorised director

Step-by-Step Process for Company ITR Filing

1. Close the books of accounts for the financial year (1 April to 31 March).
2. Complete the statutory audit and, if needed, the tax audit.
3. Prepare the financial statements.
4. Match income and sales with GST data, Form 26AS, and AIS.
5. Decide the tax option: regular rates or Section 115BAA.
6. Calculate tax, advance tax paid, TDS, and MAT, if any.
7. Pay any balance tax by challan.
8. Prepare ITR-6 and upload the audit report, if needed.
9. Submit the ITR return on the portal.
10. Verify the return using the company's Digital Signature Certificate (DSC) or other method allowed for the case.

Common Mistakes Companies Make

• Not filing the return when there is a loss or no business
• Not matching sales with GST returns
• Choosing Section 115BAA without checking the effect on deductions and MAT credit
• Missing the Form 10-IC date
• Claiming personal or director expenses as company expenses
• Not keeping proof for expenses
• Delaying the tax audit
• Not paying advance tax
• Not reporting related party transactions
• Letting the Digital Signature Certificate expire

Why Choose CA Arpit Gupta for Company ITR Filing?

• Qualified Chartered Accountant handling your company's tax work
• Careful comparison of regular rates and Section 115BAA
• Tax audit support under Section 44AB
• Advance tax planning to avoid interest
• Support for loss carry forward and MAT credit
• Notice reply and scrutiny support
• Simple explanation of every figure in your return
• Fair fee told to you before the work starts
• Safe handling of your company records

Our Company ITR Services

How We Work to File ITR for Companies?

1. Call or message us on +91-7081220600.
2. Send your accounts and documents by email or WhatsApp.
3. We review your books and match them with GST and Form 26AS.
4. We advise the best tax option for your company.
5. We prepare ITR-6 and share the details with you.
6. We file the return after your approval.
7. Your director verifies it using the DSC, with our guidance.
8. We stay with you for notices, refunds, and next year's planning.

File Your Company's ITR on Time with CA Arpit Gupta

Your company's tax filing should be correct and done before the due date. Send us your books and documents today, and we will take care of the tax option, audit support, ITR-6 filing, and follow-up.

CA Arpit Gupta Call or WhatsApp: +91-7081220600

Call now for ITR-6 filing, tax audit support, and complete income tax help for your company.