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Tax & Compliance·9 min read
Income Tax Return (ITR) Filing for Startups & Directors
File the correct ITR form on time—company, LLP, and founder personal returns—with deductions you are actually entitled to.
May 25, 2025
What you'll take away
- Pvt Ltd typically files ITR-6; LLP uses ITR-5; founders file ITR-2/3 based on income.
- Due date is usually 31 July (extensions announced in stressful years).
- Late filing costs ₹5,000+ penalty and blocks loss carry-forward.
- Pelago prepares books-linked returns for business and directors.
Which ITR form?
| Company (domestic) | ITR-6 |
|---|---|
| LLP / Partnership | ITR-5 |
| Director with salary + capital gains | Often ITR-2 or ITR-3 |
| Startups with 80-IAC benefit | ITR-6 with schedule claiming holiday—documentation must be airtight. |
Documents to compile
- Audited financials (Pvt Ltd) or books (smaller entities).
- Form 26AS and AIS for TDS credits.
- GST annual reconciliation if registered.
- Details of foreign investments, ESOP perquisites, and director loans.
ITR season approaching?
Business + director returns with advance tax and 26AS reconciliation.
Book ITR filingAdvance tax for profitable cos
If tax liability exceeds ₹10,000 after TDS, pay advance tax in instalments (15 Jun, 15 Sep, 15 Dec, 15 Mar).
Missed advance tax attracts interest under Sections 234B and 234C.
Founder tip: Pay yourself a reasonable salary so personal and company taxes are planned—not accidental.
Pelago ITR workflow
We close books, reconcile TDS/GST, pick the correct form, and file with e-verification—plus a summary founders can share with investors.