ITR 3
An Income Tax Return (ITR) is a prescribed form or statement through which a taxpayer furnishes details of their total income, applicable deductions, tax liability, taxes paid, and refund due, if any, to the Income Tax Department for a particular tax year.
Price on enquiry
ITR-3 Form Is For Whom?
ITR-3 stands for Income Tax Return Form 3.
ITR-3 is applicable to Individuals and Hindu Undivided Families (HUFs) having income from business or profession who are not eligible to file ITR-1, ITR-2 or ITR-4.
Who Can File ITR-3?
ITR-3 may be applicable to individuals and HUFs earning income from:
1. Business Income — proprietorship businesses and other eligible businesses.
2. Professional Income — consultancy, legal, medical, accounting and other professional services.
3. Partnership Firm Income — partner's salary, remuneration, interest or share of profit, as applicable.
4. Salary or Pension Income — along with business or professional income.
5. House Property Income — rental income from house property.
6. Capital Gains — profits from the sale of shares, mutual funds, land, buildings or other capital assets.
7. Other Sources of Income — interest, dividends and other taxable income.
Who Cannot File ITR-3?
- Taxpayers who have no business or professional income.
- Companies, partnership firms, LLPs and other entities that are required to use a different ITR form.
- Individuals or HUFs eligible to file ITR-1, ITR-2 or ITR-4, as applicable.
ITR-3 – DOCUMENTS REQUIRED
Applicable for: Individuals and Hindu Undivided Families (HUFs) having income from Business or Profession, including Proprietorship Businesses, Freelancers, Consultants and Professionals, who are not eligible to file ITR-1, ITR-2 or ITR-4.
Documents Checklist
1. Basic Documents
1. PAN Card.
2. Aadhaar Card.
3. Mobile Number and Email ID.
4. Bank Account Details.
5. Previous Income Tax Return Acknowledgement.
2. Business / Professional Documents
6. Business Registration Certificate, if applicable.
7. GST Registration Certificate, if applicable.
8. Sales and Purchase Details.
9. Cash Book and Ledger.
10. Journal and Trial Balance.
11. Profit & Loss Account.
12. Balance Sheet.
13. Business Bank Statements.
14. Closing Stock / Inventory Details, if applicable.
15. Debtors and Creditors Details.
16. Fixed Assets and Depreciation Details.
17. Business Loans and Borrowings Details.
18. Business Expenses Details.
3. GST Documents
19. GSTR-1 Returns, if applicable.
20. GSTR-3B Returns, if applicable.
21. GST Annual Return, if applicable.
22. GST Turnover Reconciliation.
23. Input Tax Credit (ITC) Details.
4. Income Documents
24. Salary / Pension Details, if applicable.
25. House Property Income Details, if applicable.
26. Capital Gains Statement, if applicable.
27. Interest Income Certificates.
28. Dividend Income Details.
29. Commission and Professional Receipts.
30. Foreign Income and Asset Details, if applicable.
5. Tax & Deduction Documents
31. Form 168.
32. Annual Information Statement (AIS).
33. Taxpayer Information Summary (TIS).
34. TDS / TCS Certificates.
35. Advance Tax Payment Challans.
36. Self-Assessment Tax Challans.
37. Eligible Investment and Deduction Proofs.
38. Insurance Premium Receipts, if applicable.
39. Home Loan Interest Certificate, if applicable.
40. Donation Receipts, if applicable.
6. Audit & Compliance Documents
41. Tax Audit Report, if applicable.
42. Audit Financial Statements, if applicable.
43. Auditor Details and UDIN, if applicable.
44. Details of Brought Forward Losses.
45. Unabsorbed Depreciation Details.
46. Details of Income-tax Notices, if any.
Important Notes
- ITR-3 is applicable to Individuals and HUFs having income under the head Profits or Gains of Business or Profession, except those eligible for ITR-4.
- ITR-3 is also applicable where partnership-firm remuneration, salary, interest, bonus or commission is taxable as business/professional income.
- Additional documents may be required depending on the nature of business and income.
- Supporting documents are generally retained for verification and are not uploaded with the return.
ITR-3 stands for Income Tax Return Form 3.
ITR-3 is applicable to Individuals and Hindu Undivided Families (HUFs) having income from business or profession who are not eligible to file ITR-1, ITR-2 or ITR-4.
Who Can File ITR-3?
ITR-3 may be applicable to individuals and HUFs earning income from:
1. Business Income — proprietorship businesses and other eligible businesses.
2. Professional Income — consultancy, legal, medical, accounting and other professional services.
3. Partnership Firm Income — partner's salary, remuneration, interest or share of profit, as applicable.
4. Salary or Pension Income — along with business or professional income.
5. House Property Income — rental income from house property.
6. Capital Gains — profits from the sale of shares, mutual funds, land, buildings or other capital assets.
7. Other Sources of Income — interest, dividends and other taxable income.
Who Cannot File ITR-3?
- Taxpayers who have no business or professional income.
- Companies, partnership firms, LLPs and other entities that are required to use a different ITR form.
- Individuals or HUFs eligible to file ITR-1, ITR-2 or ITR-4, as applicable.
ITR-3 – DOCUMENTS REQUIRED
Applicable for: Individuals and Hindu Undivided Families (HUFs) having income from Business or Profession, including Proprietorship Businesses, Freelancers, Consultants and Professionals, who are not eligible to file ITR-1, ITR-2 or ITR-4.
Documents Checklist
1. Basic Documents
1. PAN Card.
2. Aadhaar Card.
3. Mobile Number and Email ID.
4. Bank Account Details.
5. Previous Income Tax Return Acknowledgement.
2. Business / Professional Documents
6. Business Registration Certificate, if applicable.
7. GST Registration Certificate, if applicable.
8. Sales and Purchase Details.
9. Cash Book and Ledger.
10. Journal and Trial Balance.
11. Profit & Loss Account.
12. Balance Sheet.
13. Business Bank Statements.
14. Closing Stock / Inventory Details, if applicable.
15. Debtors and Creditors Details.
16. Fixed Assets and Depreciation Details.
17. Business Loans and Borrowings Details.
18. Business Expenses Details.
3. GST Documents
19. GSTR-1 Returns, if applicable.
20. GSTR-3B Returns, if applicable.
21. GST Annual Return, if applicable.
22. GST Turnover Reconciliation.
23. Input Tax Credit (ITC) Details.
4. Income Documents
24. Salary / Pension Details, if applicable.
25. House Property Income Details, if applicable.
26. Capital Gains Statement, if applicable.
27. Interest Income Certificates.
28. Dividend Income Details.
29. Commission and Professional Receipts.
30. Foreign Income and Asset Details, if applicable.
5. Tax & Deduction Documents
31. Form 168.
32. Annual Information Statement (AIS).
33. Taxpayer Information Summary (TIS).
34. TDS / TCS Certificates.
35. Advance Tax Payment Challans.
36. Self-Assessment Tax Challans.
37. Eligible Investment and Deduction Proofs.
38. Insurance Premium Receipts, if applicable.
39. Home Loan Interest Certificate, if applicable.
40. Donation Receipts, if applicable.
6. Audit & Compliance Documents
41. Tax Audit Report, if applicable.
42. Audit Financial Statements, if applicable.
43. Auditor Details and UDIN, if applicable.
44. Details of Brought Forward Losses.
45. Unabsorbed Depreciation Details.
46. Details of Income-tax Notices, if any.
Important Notes
- ITR-3 is applicable to Individuals and HUFs having income under the head Profits or Gains of Business or Profession, except those eligible for ITR-4.
- ITR-3 is also applicable where partnership-firm remuneration, salary, interest, bonus or commission is taxable as business/professional income.
- Additional documents may be required depending on the nature of business and income.
- Supporting documents are generally retained for verification and are not uploaded with the return.
How we can help
Share your requirements and our team will contact you to discuss the service, eligibility, documents and next steps.
