Income Tax Return (ITR) 3

Income Tax Return (ITR) 3 is a tax form designed for individuals and Hindu Undivided Families (HUFs) with income from profits and gains of business or profession. It is suitable for individuals who own and operate unincorporated businesses, such as sole proprietorships or partnerships.

Applications for Filing ITR 3

ITR 3 can be filed online using the Income Tax Department’s e-Filing Portal or through our commercial tax filing platform.

Eligibility Criteria for Filing ITR 3

Individuals and HUFs can file ITR 3 if they meet the following criteria:

• Resident taxpayers of India
• Total income exceeds Rs. 50 lakh
• Income from profits and gains of business or profession

Documents Needed to File ITR 3

To file ITR 3, individuals typically need the following documents:

• PAN card
• Profit and Loss Account (P&L) Statement
• Balance Sheet
• Bank account statements
• Proof of business expenses (e.g., invoices, receipts)
• Proof of investments (e.g., mutual funds, stocks, bonds)
• Proof of deductions (e.g., medical expenses, education expenses)
• Directorship details in a company
• DIN or DPIN number