ITR 3

For individuals and HUF having income from B&P

The ITR-3 can be used by those individuals also who conduct a business or who earn income through a profession. This form is applicable to any type of business, undertaking or profession, with no limit on the income earned. Along with the income earned from business, taxpayers can also club any income they receive from windfalls, speculation, salaries, lotteries, housing properties etc with their business income. Any individual ranging from shopkeepers, doctors, designers, agents, retailers, contractors etc is eligible to file their income tax returns using this form.

ITR-3 Form can also be used by a taxpayer who is a partner in a firm but who do not conduct any business under the firm or who do not earn any income from the business conducted by the firm and whose taxable income earned from business is only in the form of the following received as a partner:

Salary, Commission, Bonus, Interest, Remuneration

Individual who is either Director in a company or has invested in unlisted equity shares have to file ITR3

Following documents are required for Filing ITR-3

1. Income Tax Login Detail
2. Busniess Name / Trade Name, Nature of Business, Turnover/Sales Value
3. Purchase Value, All Direct and Indirect Expenses Headwise breakup
4. Closing Balance of Cash, Bank, Stock, Sundry Debtors, Sundry Creditors etc
5. Bank Statement
6. Mobile No.
7. Email id
8. Aadhar Card
9. PAN Card