North India Statesman
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Income tax update: A huge and important update has emerged for all the companies in the country and their Chartered Accountants (CAS). Income Tax Department Determination year 2025-26 (Assessment Year 2025-26) For ITR-6 Offline of form Excel Utility Has launched
The release of this utility simply means that now the process of filing income tax returns (ITR) for all companies has started officially, which have to fill this form. It is a sign that companies and tax professionals should now start preparing for their return filing without delay and not wait for the last date.
Let us understand in detail what ITR-6 is, which companies are for, and what the launch of this Excel utility means.
What is ITR-6 and who to fill this form?
There are many forms of income tax returns, which are for different types of taxpayers. ITR-6 especially Companies Has been designed for.
This form is mandatory for all companies that The Income Tax Act does not claim exemption under Section 11 of 1961.
Understand in easy language:
- If you have a private limited company, public limited company or any other type of company that is doing its business in general, then you have to fill ITR-6.
- This form for those companies No It is whose income is from Religious or Charitable Purposes and take advantage of tax exemption under section 11. Such institutions have to fill ITR-7.
This form is for assessment year 2025-26 which means it means Financial year 2024-25 (1 April 2024 to 31 March 2025) Will be filled for income made during.
What does ‘Excel utility’ mean and why is it necessary?
There are two main ways to file ITR – online and offline. Income tax department for complex forms like ITR-6, which has to fill a lot of financial information Offline utility Releases
- Offline working facility: Excel utility is a kind of offline software or tool, which you can download from the income tax e-filing portal. You can fill all the financial information of your company comfortably and carefully without internet.
- Less likelihood of mistakes: There is a risk of internet connection breakdown or server time-out while filling the online form. This problem does not occur in offline utility, which reduces the chances of mistakes.
- JSON File Creating: After filling all the information, this utility is one ‘JSON’ Creates files. All you have to do is upload this ready JSON file by visiting the income tax portal. This process is extremely fast and easy.
- Beneficial for CAS: This tool tax is particularly very useful for professionals and CAS, as they can prepare the returns of several companies simultaneously and then upload them one by one on the portal.
What is the last date for filling ITR-6? (Important deadline)
It is very important to know that the last date for filing income tax returns is usually for those companies for which ITR-6 is mandatory. 31 October it occurs. That is, the last date for filling ITR-6 for the financial year 2024-25 31 October, 2025 Is.
Why is waiting for the last date a big mistake?
The Income Tax Department issued a premature utility to make it clear that taxpayers have enough time to file returns. Therefore, waiting for the last date can prove to be a big mistake:
- Technical problems: In the last days, heavy traffic on the e-filing portal may cause server slow or crash.
- Possibility of mistakes: In a hurry, the possibility of making mistakes increases due to hasty returns, so that you may also get a notice from the Income Tax Department.
- Heavy fines: If not filling the return on time, he may have to pay heavy fines and interest.
Therefore, all concerned companies and tax advisors are advised to immediately download this utility and start the process of their ITR filing.
