Income Tax has released ITR-6 form, who will get the benefit, who can use it?

ITR-6 also works like other income tax forms. Under the Companies Act 2013, all companies use ITR-6. Companies that claim under section 11 cannot use this form.

New Delhi: Income Tax Department has released ITR-6 form. Under ITR filing, you have to choose one of the available forms. ITR-6 is also one of these forms. But who can use ITR-6 form, what are its benefits, can it be used by common man also, etc. questions arise in our mind.

What is ITR-6?

ITR-6 also works like other income tax forms. Under the Companies Act 2013, all companies use ITR-6. Companies that claim under section 11 cannot use this form.

This form cannot be used by common man and HUF also. Use of ITR-6 form-

Public Limited Companies

Private Limited Companies

One Person Companies

Let us now know how to calculate tax for ITR filing-

How to calculate income tax?

Step 1- First of all you have to go to the e-filing portal.

Step 2- After this enter your PAN number and name here.

Step 3- Then enter your ITR type. These include individual, firm, company or HUF etc.

Step 4- After this, residential status has to be selected.

Step 5- Then one has to choose either the old tax regime or the new tax regime.

Step 5- Along with this, also select the financial year.

Step 6- After which choose which age category you fall in.

This includes regular citizen, senior citizen and super senior citizen.

Step 7- After this you have to include the total income and total deduction amount.

Step 8- After which you will see the tax summary on the right side. In which you will see the total income, total deduction, tax under the new tax regime and old tax regime.

Step 9- Along with this, if you want to see the comparison between the two tax regimes, then click on the option of view comparison. Here you are told the details of the basic calculator.