Private Limited Companies

An Income Tax Return (ITR) is a form that private limited companies, businesses registered under the Companies Act, 2013, must file with the government to declare their taxable income and pay applicable taxes. It helps the government track and collects taxes from corporate entities and ensures compliance with tax regulations. Applicable form will be ITR-6.

Applications for ITR Filing by Private Limited Companies

Private limited companies can use various applications to file ITR online. Some popular options include:

• Income Tax Department’s e-Filing Portal: The official portal for filing ITR online.
• MyReturns: A commercial tax filing platform with a user-friendly interface and expert assistance.

Eligibility Criteria for ITR Filing by Private Limited Companies

All private limited companies registered in India are required to file ITR, regardless of their income or profitability. This includes dormant companies that have not conducted any business activities during the financial year.

Documents Needed by Private Limited Companies to File ITR

To file ITR, private limited companies typically need the following documents:

• Certificate of Incorporation: A legal document issued by the Registrar of Companies (ROC) that confirms the company’s registration under the Companies Act, 2013.
• Memorandum of Association (MoA): A legal document that outlines the company’s objectives, powers, and authorized share capital.
• Articles of Association (AoA): A legal document that establishes the company’s internal rules and regulations, including the management structure and shareholder rights.
• Profit and Loss Account (P&L) Statement: A financial statement that summarizes the company’s income and expenses during a specific period.
• Balance Sheet: A financial statement that provides a snapshot of the company’s assets, liabilities, and equity at a specific point in time.
• Audit Report: A report prepared by a qualified chartered accountant that provides an independent opinion on the company’s financial statements.
• Bank account statements
• Proof of business expenses (e.g., invoices, receipts)
• Proof of investments (e.g., mutual funds, stocks, bonds)
• Proof of deductions (e.g., corporate social responsibility (CSR) expenses, donations)