Instructions to Form ITR-6 (A.Y. 2022-23)

Instructions for filling out FORM ITR-6

These instructions are guidelines for filling the particulars in Income-tax Return Form-6 for the Assessment Year 2022-23 relating to the Financial Year 2021-22. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962.

1. Assessment Year for which this Return Form is applicable

This Return Form is applicable for assessment year2022-23only i.e., it relates to income earned in Financial Year 2021-22.

2. Who is eligible to use this Return Form?

This Return Form can be used by a company as per section 2(17) of the Income Tax Act. This form is filed by company other than a company which is required to file return in Form ITR-7.

As per section 2(17) of Income Tax Act, company means: –

(i) Indian Company (Domestic Company)

(ii) Body corporate incorporated by or under the laws of country outside India

(iii) Any institution, association or body, whether incorporated or not & whether Indian or Non-Indian which is declared by general or special order of the board to be company, etc.

3. Manner of filing this Return Form

This Return Form can be filed with the Income-tax Department electronically on the e-filing web portal of Income-tax Department [www.incometax.gov.in] and verified by way of digital signature only.

4. Key changes (as compared to ITR for AY 2021-22)

> Option of Filing ITR in response to notice u/s 153A and 153C is removed from ITR as requirement to file ITR under these sections is omitted.

> If the domestic company has opted for taxation under section 115BA/115BAA/115BAB in the last year then following details to be provided;

(a) date of filing of relevant form (10-IB/ 10-IC/ 10-ID)

(b) acknowledgment number

> If the domestic company opting for taxation under section  115BA/115BAA/115BAB in current year then following details to be provided;

(a) date of filing of relevant form (10-IB/ 10-IC/ 10-ID)

(b) acknowledgment number

> In case of domestic company, the rate of income-tax shall be twentyfive per cent of the total income, if the total turnover or gross receipts of the previous year 2019-20 does not exceed four hundred crore rupees. For AY 2022-23 the previous year 2018­19 is changed to 2019-20

> In case of non-resident having significant economic presence in India following details to be provided;

(a) aggregate of payments arising from the transaction or transactions during the previous year as referred in Explanation 2A(a) to Section 9(1)(i)

(b) number of users in India as referred in Explanation 2A(b) to Section 9(1)(i).

> If the company is required to seek registration under any law for the time being in force relating to companies, following details to be provided;

(a) Act under which registration required

(b) Date of Registration

(b) Registration Number

> In Part-A (Audit information) (a2) and in schedule P & L Account at Sl. No. 62 , new section 44D is inserted.

> In Part A – OI new field has been inserted at Sl. No. 10;

(da) Any sum payable as interest on any loan or borrowing from a deposit taking non-banking financial company or systemically important non-deposit taking non- banking financial company, in accordance with the terms and conditions of the agreement governing such loan or borrowing

> In Part A – OL under receipts (others) column is inserted to identify the nature of receipts. The receipts can be in the nature of capital/revenue.

> In Schedule BP following sub fields are added in Sl. No. 3;

(ci) Dividend income

(cii) other than Dividend income

> In Schedule BP, in sl.no. 23, section 44DB is added to the list for other additions

o In Sl. No. 28 – Deduction allowable under section 32AD is greyed off

> In Schedule CG (Long term & Short term) following new fields are added at“ Sl. No. 1 From sale of land or building or both”;

i Date of purchase/ acquisition

ii Date of sale/transfer

> In Schedule CG (Long term & Short term) following new fields are added at “Sl. No. 2 FromSlump Sale” as per the new rule 11UAE;

i Fair market value as per Rule 11UAE(2)

ii Fair market value as per Rule 11UAE(3)

> In Schedule CG (Long term) following new fields are added at “Sl. No. 1 From sale of land or building or both”;

i Cost of acquisition

ii Cost of improvement

iii Year of improvement

iv Total Cost of Improvement with indexation

> In Schedule OS

a. In existing Sl No 2d and Sl No 2e w.r.t “Income by way of interest from bonds or GDR purchased in foreign currency by non-resident u/s 115AC has been bifurcated into the below for the purpose of calculation of Interest under section 234C:

i Income by way of interest from bonds purchased in foreign currency by non­resident u/s 115AC. Corresponding changes are made in Schedule SI.

ii “Income by way of dividend on GDR purchased in foreign currency in case of a non-resident u/s 115AC(1)(b)”;

b. In Deductions u/s 57, a new field for “eligible interest u/s 57(1)” is added

c. In existing Sl. No. 10 “Information about accrual/receipt of income from Other Sources” new fields have been added w.r.t dividend income chargeable at special rates for the purpose of calculation of interest u/s 234C

> In schedule 80GGA, field for date of donation in cash is removed

> In Schedule 80-IA, following options have been removed.

b. Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(ii) (Telecommunication services)

e. Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(iii) (Industrial Park and SEZs)

> Deduction in respect of profits of an undertaking referred to in section 80-IA(4)(vi) (Cross country natural gas distribution network) > In Schedule 80-IB, following options have been removed.

Deduction in the case of multiplex theatre section 80-IB(7A) Deduction in the case of convention centre section 80-IB(7B) Deduction in the case of an undertaking engaged in operating and maintaining a rural hospital section 80-IB(11B)

Deduction in the case of an undertaking engaged in operating and maintaining a hospital in any area, other than excluded area section 80-IB(11C)

> New schedule IF has been inserted for information regarding investment in unincorporated entities. New sections has been inserted section 10(23FF) for not taxing the income of capital gain by non-resident if transfer of share is happened due to relocation of fund and section 10(4D) prescribing the method of calculating the exempt income of specified fund u/s 10(4D) and taxable income u/s 115AD. Hence, in Schedule EI, under other exempt income, following has been inserted:

  • Income of investment fund referred to in section 10(23FB) or 10(23FBA)
  • Income of a business trust referred to in section 10(23FC) or 10(23FCA)
  • Income exempt u/s 10(23FE) or 10(23FF) or 10(4D)
  • Any other Income (Specify nature – Add row option to be provided in utility

> In Schedule MAT ‘Deemed total income under section 115JB’ has been bifurcation into the following to levy 9% MAT for units located in IFSC units and 15% MAT for other units

a. Deemed total income u/s 115JB from Units located in IFSC, if any

b. Deemed total income u/s 115JB from other Unit

> In Schedule TPSA, to simplify the structure of the ITR form now instead of providing primary adjustments, assessment year wise total aggregate of adjustments is to be provided

> In schedule FA, the details are to be filled for calendar year (Jan-Dec) instead of Financial Year (Apr-Mar)

Item by Item Instructions to fill up the Return Form

Part-A – General Information

Field Name

Instruction
PERSONAL INFORMATION
Name Enter the Name as per PAN card
PAN Enter the PAN as in PAN card
Is there any change in the company’s name? If yes,
please furnish the old name
In case there has been a change in the name of company as compared to last year, please enter the old name of company in this column.
Corporate Identity Number (CIN) issued by MCA Please enter the Corporate Identity Number (CIN) issued by MCA
Flat/ Door/ Block No. Please furnish complete address of registered office or the corporate office of the company, mentioning the following details in respective columns:-

(a) Flat or House Number

Name of Premises/ Building / Village
Road/ Street/Post Office

Read Full text of Instructions For Filling Out Form ITR-6 for A.Y. 2022-23

(Republished with amendments)

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