Filing your Income Tax Return (ITR) is a crucial annual responsibility for individuals and companies in India. With the Income Tax Department extending the due date for ITR filing for FY 2024-25, and specific rules applicable to companies under ITR-6, it’s important to stay updated to avoid penalties and ensure smooth compliance.

Extension of ITR Due Date for FY 2024-25

The Central Board of Direct Taxes (CBDT), via Circular No. 06/2025 dated 27-05-25, has announced an extension of the due date for furnishing ITR for AY 2025-26.

(a) New Due Date: 15th September 2025
(b) Applicable To: All assessees other than:

1. Corporate assessees
2. Non-corporate assessees whose accounts are required to be audited
3. Partners of firms whose accounts need to be audited (or their spouses under Section 5A)
4. Assessees required to furnish a report under Section 92E

This extension provides much-needed relief for taxpayers, giving them additional time to collate financial data and file accurately.

ITR-6: For Companies Filing Income Tax Returns

ITR-6 is specifically meant for companies (both private and public) other than those claiming exemption under Section 11 (charitable or religious trusts).

Who Should File ITR-6?

✅ All companies – Private Limited, Public Limited, and Foreign Companies
❌ Not applicable to Section 11 exempt companies (charitable/religious trusts)

Income Covered Under ITR-6

(a) Business income
(b) Capital gains
(c) Income from house property
(d) Other sources (interest, dividends, foreign income, etc.)

Filing Process

(a) ITR-6 can only be filed online through the Income Tax e-filing portal
(b) Requires Digital Signature Certificate (DSC) for authentication

Important Due Dates

(a) 31st October 2025 – If audit is required
(b) 30th November 2025 – If Transfer Pricing (TP) report is applicable

Penalty for Delay

(a) ₹5,000 to ₹10,000 depending on the delay
(b) Interest is also charged on the outstanding tax amount

Why Timely Filing Matters

Filing your ITR within the due date not only avoids penalties but also ensures:

(a) Easy loan approvals
(b) Faster refund processing
(c) Clean financial records for compliance and investment purposes

With the due date for ITR filing now extended to 15th September 2025, taxpayers have additional time to prepare. However, companies falling under ITR-6 must still adhere to their specific timelines and filing requirements.

To avoid last-minute hassles and penalties, it’s advisable to start early, ensure accurate data entry, and file returns on time.