ITR-3
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ITR-3 Filing – For Business & Professional Income
What is ITR-3?
ITR-3 is the Income Tax Return form for Individuals and Hindu Undivided Families (HUFs) who earn income from a proprietorship business or profession. It also covers income from salary, house property, capital gains, and other sources.
This form is generally used by freelancers, self-employed professionals, traders, and business owners.
Who Can File ITR-3?
You can file ITR-3 if you have:
Income from Business or Profession (proprietorship, consultancy, freelancing, trading, etc.)
Income from Salary/Pension
Income from House Property (one or more)
Capital Gains (sale of property, shares, mutual funds, etc.)
Income from Other Sources (interest, dividend, family pension, etc.)
Income as a Partner in a Firm
Foreign income or foreign assets
Who Cannot File ITR-3?
You cannot use ITR-3 if you are:
An individual or HUF who opts for Presumptive Income Scheme (ITR-4)
Someone with only salary, single house property, or income up to ₹50 lakhs (use ITR-1/2)
Why Should You File ITR-3?
- Mandatory if you are running a business/profession
- To declare profits & pay correct taxes
- To claim business expenses & deductions
- To avoid penalties, scrutiny & GST mismatches
- Useful for bank loans, credit, and tender applications
- Required for visa and financial documentation
Documents Required for ITR-3 Filing
PAN, Aadhaar, and bank account details
Balance Sheet, Profit & Loss Account of business
Books of accounts, invoices & expenses details
Form 16 (if salary income exists)
Form 26AS / AIS / TIS (Tax Credit Statement)
Capital gains statements (if applicable)
Investment proofs (80C, 80D, etc.)
Details of foreign assets/income (if applicable)
Why Choose Singha Tax Consultant?
Expert CA/Tax professionals for business & professional ITRs
Accurate bookkeeping & tax planning support
Hassle-free online filing with audit assistance
Affordable pricing with personalized consultation
End-to-end compliance support for GST + Income Tax
