ITR-3 Form Filing - Income Tax Return

The ITR-3 Form applies particularly to those Individuals and Hindu Undivided Families who have income from carrying on a profession or from Proprietary business. If an Individual/HUF is having income as a partner of a partnership firm that is carrying out business/profession, he cannot file ITR-3. In such case, he is required to file ITR 2.




ITR-3 must be filed by individuals and HUFs who have income from carrying on a profession or from Proprietary business.
If an Individual/HUF is having income as a partner of a partnership firm that is carrying out business/profession, he cannot file ITR-3. In such case, he is required to file ITR 2.
ITR-3 form is to be used when the assessee has income that falls into the below category :

1. Income from carrying on a profession
2. Income from Proprietary Business
3. Along with income from a profession or proprietary business, return may also include income from House property, Salary/Pension and Income from other sources
Due date for filing income tax return is 31st July for Individuals and 30th September for Businesses.

Basic

2,999

Income tax return filing for a taxpayer with taxable income of less than Rs.10 lakhs.

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Startup

4,999

Income tax return filing for a taxpayer with taxable income of less than Rs.20 lakhs.

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