Company and LLP Income Tax Returns

Documents To Be Submitted

Additional Form 16

FAQs

What is the due date to file company income tax return?

The due date for filing income tax return in case of a company 30th September (whether audit of accounts is required or not). It is applicable for income earned from April to March. For LLP due date is September 30th (where audit is required), November 30th (where there are foreign transaction or specified domestic transactions).

What are the ITR forms for company and LLP?

All the companies are required to file ITR 6 other than the companies claiming exemption u/s Section 11, which applies to income from property held in trust or other legal obligation for religious or charitable purposes, wholly or partially.

ITR 7 is filed if the company is claiming exemption u/s 11. ITR 7 is not covered in the plan.

ITR 5 is filed if business is registered as an LLP.

Can I file a revised return to correct a mistake in original return filed?

Can a return be filed after the due date?

Am I required to keep a copy of the return filed as proof and for how long?

Yes, under the Income-tax Act legal proceedings can be initiated up to 4 to 6 years (depending upon case to case) prior to the current financial year. However, in certain cases the proceedings can be initiated even after 6 years, hence, it is advised to preserve the copy of return for at least 6 years or maintain it as long as possible.

Do I need to attach details of TDS deducted, proof of investments etc?

ITR return forms are attachment less forms and hence, you are not required to attach any document (like proof of investment, TDS certificates etc.) along with the ITR (whether filed manually or electronically). However, these documents should be retained and produced before the tax authorities when demanded in situations like assessment, inquiry etc.

Are Audit and Financial statements preparation covered in the plan?

Audit & preparation of financial statements is not part of the plan.