ITR for Private Limited Company

Every Private Limited Company must file its Income Tax Return (ITR-6) annually. This involves statutory audit, preparing financial statements, and digital filing. Ensure 100% compliance to avoid penalties.

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What is Corporate ITR?

A Private Limited Company is a separate legal entity and must file its Income Tax Return in Form ITR-6. This filing is mandatory every year, irrespective of whether the company has made a profit, loss, or no business at all.

Benefits Explained

Compliance

Regular filing avoids heavy penalties and prosecution under the Income Tax Act, ensuring the company remains in good standing.

Loss Carry Forward

Business losses can be carried forward for up to 8 years to set off against future profits, reducing future tax liability.

Funding

Audited financials and ITR acknowledgments are prerequisites for raising bank loans, venture capital, or government tenders.

Tax Refund

If the TDS deducted exceeds the actual tax liability, the company can claim a refund only by filing the ITR.

Documents Required

Financial Statements Balance Sheet & Profit/Loss Account
Audit Report Statutory Audit Report by CA
Bank Statements For the complete financial year
TDS Details Form 26AS / AIS
Digital Signature Class 3 DSC of Director

Filing Process

1

Books of Accounts

Maintain proper accounting records of all sales, purchases, and expenses.

2

Statutory Audit

Get accounts audited by a Chartered Accountant. This is mandatory for all Pvt Ltd companies.

3

Prepare ITR-6

Prepare the return based on audited financials and compute tax liability.

4

File & Verify

Upload the return on the Income Tax portal and verify using the Director's DSC.

Frequently Asked Questions

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