ITR-3 Filing (Business)

ITR-3 is the prescribed Income Tax Return for Individuals and Hindu Undivided Families (HUFs) having income from profits and gains of business or profession, who are not eligible to file ITR-1, ITR-2 or ITR-4.

It is applicable where the taxpayer maintains regular books of accounts and computes taxable income on the basis of the Profit & Loss Account and Balance Sheet. The return may include income from business or profession, salary, house property, capital gains, other sources and income from partnership firms.

Our Experts provide end-to-end assistance in preparing financial statements, computing taxable income, claiming eligible deductions, reconciling Form 26AS, AIS and TIS, verifying tax payments and filing ITR-3 accurately in accordance with the Income-tax Act, 1961, the Income-tax Rules, 1962, and applicable CBDT notifications.

• Individuals carrying on business and maintaining books of accounts.
• Professionals such as Chartered Accountants, Doctors, Advocates, Architects, Engineers, Consultants, etc., maintaining books.
• Proprietors engaged in trading, manufacturing, or service businesses.
• Partners receiving remuneration, interest, or share of profit from partnership firms (where ITR-3 is applicable).
• Individuals having business income along with salary, house property, capital gains, or other income.
• Taxpayers not eligible for presumptive taxation under Sections 44AD, 44ADA, or 44AE, or who have opted out of those schemes.