ITR Update: CBDT notifies Changes in Form ITR 6 in Accordance with Amendment in Finance Act, 2023 w.e.f. April 1st 2024

The Central Board of Direct Taxes ( CBDT ) has officially communicated alterations to the Income Tax Returns ( ITR ) form 6, aligning with amendments in the Income Tax Act, 1961, and Income Tax Rules, 1962 following the revisions made in the Finance Act, 2023.

The changes shall come into force on April 1st 2024. The ITR 6 is filed by the companies which do not come under charitable trusts or religious trusts. This information has been disseminated through the official gazette in notification no. G.S.R. 64(E) dated 27th January 2024. The notification states as follows : “In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

These rules may be called the Income-tax (First Amendment) Rules, 2024.” Form ITR 6 ITR-6 is an Income Tax Return form specifically designed for companies that are not claiming exemption under Section 11 of the Income Tax Act. Every company registered under the Companies Act 2013 or the preceding Companies Act 1956 must submit the ITR 6 Form.

However, companies deriving income from properties held for religious or charitable purposes are exempt from filing the ITR 6 Form. There is Part A, then schedules and Part B. Finally, there is also a verification part. To Read the full text of the Order CLICK HERE

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