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Ready Your ITR Filing For Companies with Auriga Accounting
Auriga Accounting has a team of registration experts who can provide complete guidance to register your ITR Filing For Companies In Chennai.
Our team of experts will get in touch with you and collect all necessary documents and details
We fill out and file your application for ITR Filing
Ready Your ITR Filing For Companies In Chennai
Auriga Accounting has a team of registration experts who can provide complete guidance to register your ITR 8 Return Filing In Chennai.
Our team of experts will get in touch with you and collect all necessary documents and details
We fill out and file your application for ITR Filing
Ready Your ITR Filing For Companies In Chennai
Income Tax Return (ITR) filing is a statutory obligation for all companies in Chennai, regardless of their size, turnover, or profit status. This requirement applies to Private Limited Companies, Public Limited Companies, One Person Companies (OPCs), Limited Liability Partnerships (LLPs), and Section 8 Companies alike. Even if a company records no income, incurs losses, or remains inactive, filing an ITR remains compulsory under the Income Tax Act. Timely and accurate filing not only ensures compliance and protects businesses from penalties but also strengthens financial credibility, allows the carry forward of losses, improves access to loans and credit facilities, and enhances eligibility for government tenders and contracts.
In Tamil Nadu, any company engaged in business activities and earning income during a financial year is required to file an Income Tax Return (ITR). Specifically, the following types of companies must file ITR:
Generally, companies with a taxable income exceeding the prescribed threshold or those that are liable to audit under the Income Tax Act are mandated to file ITRs annually. Filing is essential for legal compliance, maintaining transparency, and avoiding penalties, regardless of whether the company has profit or loss during the year.
Ensures Legal Compliance: Keeps the company aligned with Indian tax laws, preventing penalties, fines, and legal complications.
Promotes Financial Transparency: Maintains accurate income and expense records, fostering trust and accountability.
Eases Loan & Credit Approvals: Serves as verified financial proof for banks, investors, and financial institutions.
Enables Tax Refunds: Allows recovery of excess taxes paid, improving liquidity and cash flow.
Strengthens Business Credibility: Demonstrates financial discipline and compliance, boosting stakeholder confidence.
Facilitates Audit Readiness: Organized records streamline statutory and tax audits.
Unlocks Government Benefits: Ensures eligibility for schemes, subsidies, and incentives tied to compliance.
Supports Strategic Growth: Provides reliable financial insights for long-term planning and business expansion.
Company PAN Card: Mandatory for identification and tax return filing.
Audited Financial Statements: Balance Sheet, Profit & Loss Account, and Cash Flow Statement for the relevant year.
Tax Audit Report (if applicable): Required under Section 44AB when turnover crosses prescribed thresholds.
Bank Account Statements: Complete statements of all business accounts for the financial year.
Books of Accounts: Detailed ledgers, journals, vouchers, and supporting records.
GST Returns & Details (if applicable): Filed GST returns along with input and output tax data.
Outstanding Dues Summary: Information on debtors, creditors, receivables, and payables.
Tax Payment Proof: Challans/receipts for advance tax or self-assessment tax paid.
Audit Reports: Including Form 3CB/3CD, where applicable.
Investment & Asset Records: Documentation for depreciation claims, deductions, or exemptions.
Previous Year’s ITR: Copy of the last filed return for consistency and reference.
“The Income Tax Department has specified different ITR forms for companies in West Bengal based on their business nature and income type:
ITR 6 – For all companies, including Private Limited, Public Limited, and One Person Companies (OPCs), that do not claim exemptions under Section 11 (charitable or religious purposes).
ITR 7 – For companies registered as charitable or religious trusts, political parties, research associations, universities, or other institutions eligible for exemptions under Sections 139(4A), 139(4B), 139(4C), or 139(4D).”
-Without Audit: July 31, 2025
–With Audit (Under Section 44AB): October 31, 2025
–Transfer Pricing Cases: November 30, 2025
The income tax rate for companies in India depends on the type of company, turnover, and whether they opt for special tax regimes.
Type of Company | Tax Rate |
Companies with turnover up to ₹400 crore (in FY 2022-23) | 25% |
Companies with turnover above ₹400 crore | 30% |
Companies opting for Section 115BA (new manufacturing companies set up on or after March 1, 2016) | 25% |
Companies opting for Section 115BAA (reduced corporate tax rate without exemptions) | 22% |
New manufacturing companies opting for Section 115BAB | 15% |
Surcharge & Cess (for Domestic Companies)
Income Type | Tax Rate |
Income from Indian operations (e.g., royalty, fees for technical services) | 40% |
Other income from business operations in India | 40% |
Surcharge & Cess (for Foreign Companies)
Tax Rate Summary for Companies Under Special Tax Regimes
Section | Tax Rate | Applicability |
115BA | 25% | Domestic manufacturing companies (set up after March 1, 2016) |
115BAA | 22% | Companies that do not claim exemptions/deductions |
115BAB | 15% | New manufacturing companies (set up on or after October 1, 2019) |
Additional Tax Implications for Companies
✔ Minimum Alternate Tax (MAT) – 15% of book profits (if applicable, under Section 115JB)
✔ Dividend Distribution Tax (DDT) – Abolished from April 1, 2020 (dividends are taxed in the hands of shareholders)
Penalty for Late Filing
–₹5,000 to ₹10,000 penalty under Section 234F
–Interest on outstanding tax under Section 234A, 234B & 234C
Collect Required Documents: Gather all essential records, including audited financial statements, bank statements, GST returns, and other supporting documents.
Finalize Financial Statements: Prepare the Balance Sheet, Profit & Loss Account, and other relevant financial reports for the year.
Calculate Tax Liability: Compute taxable income, apply deductions, and determine the total tax payable.
Complete Tax Audit (if applicable): Obtain a certified Tax Audit Report (Form 3CB/3CD) if the company’s turnover exceeds the prescribed threshold.
Log in to the E-Filing Portal: Access the Income Tax Department’s official portal at https://www.incometax.gov.in using your Digital Signature Certificate (DSC) or valid credentials.
Select the Correct ITR Form: Most companies file ITR-6 (unless exempt); choose the appropriate form based on company type.
Fill in the ITR Form: Accurately enter income, expenses, deductions, taxes paid, and other required details.
Upload Supporting Documents: Attach audit reports, financial statements, schedules, and other mandatory documents.
Validate and Submit: Review all details carefully, validate the form, and submit it online.
E-Verify the Return: Complete verification through DSC, Aadhaar OTP, net banking, or by sending the signed ITR-V acknowledgment to CPC Bangalore.
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