CBDT Notifies ITR-6 for AY 2025-26
📅 Notification No. 44/2025 | Dated: 06 May 2025
CBDT Notifies ITR-6 for AY 2025-26 The Central Board of Direct Taxes (CBDT) has officially notified the revised Income Tax Return Form 6 (ITR-6) for the Assessment Year (AY) 2025-26 through Notification No. 44/2025 dated 06.05.2025, introducing several important updates for companies, especially those not claiming exemption under Section 11 of the Income Tax Act, 1961.
This update is aligned with the amendments introduced via the Finance Act, 2024 and recent judicial and policy changes aimed at increasing compliance accuracy, sector-specific tax reporting, and digital validation.
📌 Who Should File ITR-6?
CBDT Notifies ITR-6 for AY 2025-26 ITR-6 is applicable to companies other than those whose income is exempt under Section 11 (i.e., charitable or religious trusts and institutions). Companies claiming such exemptions are required to file ITR-7 instead.
🆕 Major Updates in ITR-6 for AY 2025-26
📊 Schedule – Capital Gains (CG): Pre/Post 23rd July 2024 Split
CBDT Notifies ITR-6 for AY 2025-26 A significant structural update has been made to the Capital Gains schedule, separating gains based on the transfer date:
- Capital Gains before 23.07.2024
- Capital Gains on or after 23.07.2024
This change arises from transitional provisions introduced in the Finance Act, 2024, where differential tax treatment applies depending on the date of asset transfer.
✅ Action Point:
CBDT Notifies ITR-6 for AY 2025-26 Companies must maintain accurate transaction-level records, especially for shares and property transfers, to correctly split gains between the two periods.
📚 Source: Finance Act, 2024 – Transitional Provisions
💸 Capital Loss on Share Buyback – New Allowance from 01.10.2024
Until now, capital losses on buybacks were often disallowed due to treatment mismatches. From 01 October 2024, companies are allowed to claim capital losses on buybacks, provided:
- The corresponding dividend income (not liable to Dividend Distribution Tax – DDT) is declared under the head “Income from Other Sources.”
This change ensures parity in taxation and disallows companies from exploiting arbitrage loopholes.
📚 Source: CBDT Buyback Circular Reference
🛳️ Reference to New Section 44BBC – Presumptive Taxation for Cruise Businesses
CBDT Notifies ITR-6 for AY 2025-26 The form now includes reference to the newly inserted Section 44BBC, introduced in Union Budget 2024, which provides presumptive taxation for cruise business operators.
- Eligible companies can now compute profits on a prescribed percentage of gross receipts, thereby simplifying tax compliance.
✅ Action Point:
Cruise operators must evaluate eligibility under Section 44BBC and choose this presumptive option, if beneficial.
📚 Source: Union Budget 2024 – Income Tax Highlights
💎 Raw Diamonds Clause in Schedule BP (Business & Profession)
As per new Rule 10TIA, now incorporated in Schedule BP:
Profits from the sale of raw diamonds must be at least 4% of the gross receipts to be deemed acceptable under the presumptive taxation norms.
✅ Compliance Note:
Taxpayers dealing in raw diamonds must ensure declared profits meet the 4% threshold, else may face scrutiny or disallowance.
📚 Source: Rule 10TIA Notification – Income Tax Rules
🏠 Enhanced Reporting Under Section 24(b) – Interest on Housing Loan
The revised form now includes more detailed fields in:
- Schedule VI-A
- Income Schedules
…to capture information related to interest on home loans under Section 24(b) for:
- Self-occupied properties
- Let-out properties
✅ Tip:
CBDT Notifies ITR-6 for AY 2025-26 Companies claiming interest on housing loans should retain loan sanction letters, interest certificates, and EMI schedules for validation.
📚 Source: Section 24(b) – Income Tax Act, 1961
🧾 Schedule-TDS – Section Code Reporting Introduced
A new column has been added to Schedule-TDS for specifying the TDS Section Code:
- E.g., 194C (contractor payments), 194J (professional fees), etc.
This addition is aimed at aligning the ITR with TDS returns (Form 26Q/27Q) and enabling seamless cross-verification with Form 26AS and TRACES.
✅ Action Point:
Companies should ensure TDS deductions reported in ITR-6 are reconciled with Form 26AS and the TRACES portal.
📚 Source: TRACES – TDS Reconciliation
🧾 Additional Reminders for ITR-6 Filers
- ✔️ File using Digital Signature Certificate (DSC) – mandatory for companies.
- ✔️ Cross-verify all PAN/TAN details, audit reports, and turnover classifications.
- ✔️ Ensure disclosures of foreign assets, related party transactions, and specified financial transactions (SFTs) are accurate.
📝 Conclusion
CBDT Notifies ITR-6 for AY 2025-26 The updated ITR-6 Form for AY 2025-26 reflects the CBDT’s push toward granular compliance, sector-wise scrutiny, and accurate self-disclosures. Companies must align their internal tax reporting systems, accounting entries, and audit trails to reflect these structural and policy-driven changes.
Timely adaptation to these changes not only ensures seamless processing but also reduces the risk of scrutiny notices and penalties.
📞 Need Expert Help Filing ITR-6?
If you’re unsure how these changes affect your company, or if you need professional support in filing the ITR-6, the Taxgyany Team is here to help. Get expert advice on:
✅ Clause-by-clause compliance
✅ Tax planning under presumptive schemes
✅ Cross-verification with TDS/26AS
✅ Proper capital gains disclosure
📧 Email: info@taxgyany.com
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