Who will use ITR-6 - for A.Y. 2021-2022?
This Return Form is to be used by all the Companies except those who claim exemption under section 11 for Charitable and religious purpose.
Thus all Companies with following Income can file ITR-5
-
Income from House Property
-
Income from carrying on a Profession
-
Income from Capital gains
-
Income from other sources
Who is not eligible to use ITR-6 Form?
A. This Return Form should not be used by –
(a) an individual;
(b) HUF;
(c) Partnership firm, LLP, AOP and BOI;
(d) Company claiming exemption under section 11;
Income Tax Rates for Domestic Company (AY 2021-22)
Income
|
Rate
|
Company which has commenced manufacturing on or before 31st March, 2023 & is registered on or after October 1, 2019 (Section 115BAB).
|
15%
|
Company which calculates total income without claiming specified deductions, incentives, exemptions and additional depreciation (Section 115BAA).
|
22%
|
Company which is registered on or after March 1, 2016 and engaged in manufacture of any article or thing and does not claim deduction as specified in the section clause 115BA.
|
25%
|
Turnover or gross receipt of the company is less than Rs. 400 crore in the previous year 2018-19
|
25%
|
Any Other Domestic Company
|
30%
|
Surcharge:
7% of the tax amount where total income exceeds INR 1 Crores
12% of the tax amount where total income exceeds INR 10 Crores
10% of the tax amount where the company opted for Section 115 BAA & 115 BAB irrespective of any income.
Health and Education Cess : The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of 4% of such income-tax and surcharge
Income Tax Rates for Foreign Company (AY 2021-22)
Income
|
Rate
|
Royalty received from Government or an Indian concern in pursuance of an agreement made with the Indian concern after March 31, 1961, but before April 1, 1976, or fees for rendering technical services in pursuance of an agreement made after February 29, 1964 but before April 1, 1976 and where such agreement has, in either case, been approved by the Central Government
|
50%
|
Any Other Income
|
40%
|
Surcharge:
2% of the tax amount where total income exceeds INR 1 Crores
5% of the tax amount where total income exceeds INR 10 Crores
Health and Education Cess : The amount of income-tax and the applicable surcharge, shall be further increased by health and education cess calculated at the rate of 4% of such income-tax and surcharge