ITR Filing for Businesses
Expert Income Tax Return filing for companies (ITR-6), LLPs and firms (ITR-5), and proprietorships (ITR-3). Tax audit under Section 44AB, advance tax computation, and maximum refund optimization.
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What is Business ITR Filing?
Every business entity in India — whether a company, LLP, partnership firm, or proprietorship — must file an Income Tax Return (ITR) every year under the Income Tax Act, 1961. The applicable form depends on the type of entity: ITR-6 for companies (other than those claiming Section 11 exemption), ITR-5 for LLPs, partnership firms, and AOP/BOIs, and ITR-3 for proprietorships and individual partners with business income. The due date for entities requiring tax audit under Section 44AB is 31 October (extended at times). Non-audit businesses must file by 31 July. Failure to file on time results in a late fee of up to ₹10,000 under Section 234F, loss of carried-forward losses, and interest under Sections 234A, 234B, and 234C. Tax planning through advance tax, deductions under Chapter VI-A, and presumptive taxation under Section 44AD/44ADA can significantly reduce tax liability.
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Business ITR Filing — Key Aspects
ITR-6 for Companies
Mandatory for all companies (Pvt. Ltd., Public Ltd., OPC) except Section 25/8 companies claiming Section 11. Due by 31 October (tax audit cases).
ITR-5 for LLPs & Firms
Filed by LLPs, partnership firms, AOP/BOI. Taxed at 30% flat rate plus surcharge/cess. Partner remuneration and interest deductible under Section 40(b).
Tax Audit under Section 44AB
Mandatory for businesses with turnover above ₹1 crore (₹10 crore for high-digital). Form 3CA/3CB with Form 3CD — 44 specific disclosure clauses.
Advance Tax & TDS
Pay advance tax in 4 installments. Deduct TDS on salary, professional fees, rent, and other payments. Reconcile TDS with Form 26AS and AIS.
Eligibility & Requirements
How We File ITR for Businesses
Our CA team handles the complete ITR preparation, tax audit, and e-filing process with accuracy and within deadlines.
1Step 1: Tax Audit & Books Finalization
Finalize books of accounts. Conduct tax audit if threshold applies. Prepare Form 3CA/3CB with Form 3CD covering all 44 prescribed clauses.
2Step 2: Compute Taxable Income & Tax Liability
Compute taxable income after all allowable deductions. Apply MAT/AMT if applicable. Determine final tax liability after TDS credit and advance tax.
3Step 3: Pay Self-Assessment Tax
Pay any balance self-assessment tax via Challan 280 on the Income Tax portal before filing. Interest under Section 234B applies if advance tax shortfall exists.
4Step 4: E-File ITR and Verify
File the applicable ITR form (ITR-3/5/6) on the Income Tax e-filing portal. Verify via DSC (mandatory for companies/LLPs) or EVC within 30 days.
We provide detailed tax computation sheets and suggest legal tax-saving strategies before filing to minimize your effective tax rate.
Documents Required
Financial Records
- Audited Balance Sheet and P&L Account
- Tax audit report (Form 3CA/3CB + 3CD if applicable)
- Depreciation schedule
Income & TDS Records
- Form 26AS / Annual Information Statement (AIS)
- TDS certificates received (Form 16A)
- Bank interest certificates
Tax Payment Records
- Advance tax challans (June, Sept, Dec, March)
- Self-assessment tax challan
- Previous year ITR and carry-forward loss details
Post-Registration Compliance
MAT / AMT Compliance
Companies must pay Minimum Alternate Tax (MAT) at 15% on book profits if regular tax is lower. LLPs are subject to AMT (Alternate Minimum Tax).
Transfer Pricing Compliance
Companies with international transactions or specified domestic transactions must comply with transfer pricing regulations and file Form 3CEB.
Carry Forward of Losses
Business losses can be carried forward for 8 assessment years. Unabsorbed depreciation can be carried forward indefinitely — but only if ITR is filed on time.
CSR Deduction Limits
CSR expenditure is not deductible as a business expense under Section 37 of the Income Tax Act. However, donations to eligible entities may qualify under Section 80G.
Common Questions
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