Every business entity in India — whether a proprietorship, partnership firm, LLP, or Private Limited Company — must file an Income Tax Return (ITR) each financial year. Companies must use ITR-6 and are always subject to mandatory statutory audit. Proprietorships and partnerships use ITR-3 or ITR-5, with tax audit required above the Section 44AB turnover threshold. BigMind Consulting provides complete ITR filing, tax audit, and advance tax management services in India and India.
Which ITR form applies to your business?
| Form | Applicable To | Tax Audit Required? |
|---|---|---|
| ITR-1 (Sahaj) | Salaried individuals (income up to ₹50 lakh, no business income) | No |
| ITR-3 | Individuals and HUFs with income from business/profession (proprietorships) | If applicable under 44AB |
| ITR-4 (Sugam) | Individuals/HUFs/firms (excl. LLPs) under presumptive taxation (44AD/44ADA) | No |
| ITR-5 | Partnership firms, LLPs, AOPs, BOIs | If applicable under 44AB |
| ITR-6 | Companies (excluding those claiming Section 11 exemption) | Mandatory — all companies |
| ITR-7 | Persons / companies claiming exemption under Section 11 (charitable trusts, Section 8 NGOs) | If applicable |
ITR filing due dates
Companies (all)
31 October
Mandatory audit — extended deadline applies. For FY 2025-26: 31 October 2026.
LLPs, Partnership Firms (with audit)
31 October
When Section 44AB tax audit is required.
Proprietorships & Individuals (without audit)
31 July
Standard individual ITR deadline if no audit is required.
Section 44AB tax audit — when is it mandatory?
Mandatory Audit Triggers
- Business turnover exceeds ₹1 crore (or ₹10 crore if 95%+ transactions are digital)
- Professional receipts exceed ₹50 lakh
- Presumptive taxpayer (44AD/44ADA) declaring income below prescribed limits
- All Private Limited Companies — statutory audit is always required regardless of turnover
What BigMind Does for Tax Audit
- Appoints a qualified Chartered Accountant for statutory audit
- Prepares all schedules, financial statements, and Form 3CA/3CB (auditor's report)
- Files Form 3CD (tax audit report) on the IT portal using auditor's DSC
- Files ITR with all audit data integrated and reconciled
Advance tax payment schedule
| Instalment | Due Date | % of Annual Tax |
|---|---|---|
| 1st Instalment | 15 June | 15% |
| 2nd Instalment | 15 September | 45% (cumulative) |
| 3rd Instalment | 15 December | 75% (cumulative) |
| 4th Instalment | 15 March | 100% (full year) |
Interest under Section 234B (shortfall) and 234C (deferment) applies if advance tax is not paid on time.
Frequently Asked Questions
What is the ITR filing due date for a Private Limited Company in India?
For a Private Limited Company (or any company), the ITR due date is 31 October of the assessment year (i.e., for FY 2025-26, the due date is 31 October 2026) if a tax audit under Section 44AB is required. Without tax audit, the deadline is 31 July. Companies are almost always subject to mandatory audit, so 31 October applies in practice.
When is a tax audit under Section 44AB mandatory in India?
A tax audit under Section 44AB is mandatory if: (1) a business's annual turnover exceeds ₹1 crore (₹10 crore if 95%+ transactions are digital), or (2) a professional's gross receipts exceed ₹50 lakh, or (3) a person opts for a presumptive taxation scheme under Section 44AD/44ADA/44AE but declares income below the prescribed limits.
What is the penalty for not filing ITR on time for a company?
Under Section 234F, a late filing fee of ₹10,000 applies if ITR is filed after the due date (or ₹1,000 if total income is below ₹5 lakh). Additionally, interest under Section 234A (1% per month) applies on unpaid tax. Companies also risk loss of certain deductions and carry-forward of losses.
Can a company file ITR-6 online or does it need to be physical?
ITR-6 for companies must be filed electronically (online) through the Income Tax e-Filing portal (incometax.gov.in) using a Digital Signature Certificate (DSC). Physical filing is not permitted for companies. BigMind Consulting files all company ITRs digitally using the authorised signatory's DSC.
What is advance tax and when must it be paid?
Advance tax applies to taxpayers whose estimated tax liability for the year exceeds ₹10,000. It must be paid in 4 instalments: 15% by 15 June, 45% by 15 September, 75% by 15 December, and 100% by 15 March of the financial year. Non-payment of advance tax attracts interest under Sections 234B and 234C.
Related Guides
Need help with ITR filing or tax audit?
BigMind Consulting handles company ITR, tax audit, and advance tax management across India.
BigMind Consulting · Tax Filing & Compliance · India