Expert Assistance for ITR‑3 Form Filing
- Assess your income sources and confirm ITR‑3 applicability.
- Choose the correct ITR‑3 version and pre‑populate your data.
- Organize books of account, Form 16A, bank statements, and other proofs.
- Submit your ITR‑3 online and guide you through e‑verification.
- Track your return status, handle notices, and assist with revised filings.
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What Is ITR‑3?
ITR‑3 is the tax return form for individuals and HUFs earning “Profits & Gains from Business or Profession,” including proprietorships. It captures:
- Business or professional income
- Salary, pension, house property, capital gains
- Other sources (interest, lotteries, family pension)
- Foreign assets/income & directorships
Who Should File ITR‑3?
You need ITR‑3 if you have:
- Income from business, profession, or as a director
- Income from one or more house properties
- Capital gains (long‑term/short‑term)
- Foreign assets or RNOR/NRI status
- Lottery or racehorse winnings
Not eligible: Partners in a partnership firm (use ITR‑2 instead).
ITR‑3 Form Structure
- Part A – Personal details, PAN/Aadhaar, contact, AO code
- Part B – Income computation: business, salary, property, capital gains, other sources
- Part C – Deductions under Chapter VI‑A
- Part D – Tax payable, TDS/TCS credits, advance tax
- Verification – Digital signature or signed ITR‑V
Documents Required
- Business books: P&L, balance sheet
- Form 16/16A: Salary & TDS certificates
- Form 26AS: Tax credit statement
- Bank statements: Interest & dividend receipts
- Capital gains proofs: Contract notes, property sale deeds
- Other proofs: Rent receipts (HRA), pension slips, foreign asset details
How to File Your ITR‑3
- Login & Select AY: Sign in to the e‑filing portal and choose the correct Assessment Year.
- Upload Pre‑filled Data: Import JSON/XML or manually enter your figures.
- Complete Schedules: Fill income, deduction, and tax credit schedules.
- Compute & Pay: Verify tax liability and pay any balance due.
- Submit & e‑Verify: File online; e‑verify via Aadhaar OTP, EVC, or send signed ITR‑V.
Due Dates and Penalities
- Non‑audit cases: July 31 of AY
- Audit cases: October 31 of AY
- Late fee: ₹5,000 (up to ₹1,000 if income ≤₹5 lakhs); increases to ₹10,000 after December 31.
Why Choose CA Vakeel
- Accuracy & Compliance: In‑depth review to avoid errors and notices.
- Timely Filing: Automated reminders so you never miss a deadline.
- Secure Platform: End‑to‑end encryption for your financial data.
- Expert Support: Dedicated tax specialists available throughout the year.
- Hassle‑Free Revisions: Assistance with belated or revised returns.
Ready to simplify your ITR‑3 filing? Contact CA Vakeel today for expert, end‑to‑end support!