For Professionals, Business Owners & Partners
1️⃣ 🧾 Introduction – What is ITR-3?
ITR-3 is used by individuals and Hindu Undivided Families (HUFs) having income from:
- Proprietorship businesses
- Professions (not under presumptive tax)
- Partnership (excluding LLPs)
- Income from capital gains, house property, or other sources
Not applicable for salaried employees unless they also own a business or professional practice.
🌐 Official Filing Portal: https://www.incometax.gov.in
2️⃣ 📜 Types of Licenses Offered (Who Uses ITR-3?)
ITR-3 is ideal for:
- Freelancers or consultants (not under presumptive scheme)
- Doctors, CAs, lawyers earning > ₹50 lakh
- Traders using a regular accounting system
- Partners in firms (not LLPs filing separately)
- Small business owners with GST registration
3️⃣ 👨💼 Who Needs These Services?
You should consider ITR-3 filing assistance if you:
- Have a proprietorship business or a profession
- Earn capital gains or foreign income
- Require bookkeeping, balance sheet, P&L account
- Want to avoid tax notices due to incorrect filings
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4️⃣ 🤝 Why Choose a Return Filing Expert?
📌 With expert help, you:
- Ensure correct income classification
- Maximize legal tax deductions
- Get support with bookkeeping & financials
- Avoid rejection or scrutiny
- Meet compliance with TDS, GST & ITR together
✅ Especially useful for growing businesses and professionals.
5️⃣ 📝 Step-by-Step ITR-3 Filing Process
🪜 How to file ITR-3 online (2025):
- Login to incometax.gov.in
- Go to e-File → Income Tax Return → File Now
- Select Assessment Year 2024-25, ITR Form: ITR-3
- Choose Online or Offline utility
- Fill in:
- General Information
- Income Details (Business/Professional/Capital Gains)
- Schedule BP & P&L Account
- Schedule CG, TDS, Deductions
- Upload Balance Sheet and audit details (if required)
- Validate & Submit return
- e-Verify via Aadhaar OTP, EVC, or DSC
6️⃣ 📂 Documents Required
Keep these handy:
- PAN & Aadhaar
- Business financials: Profit & Loss, Balance Sheet
- Bank statements
- Capital gains reports (if applicable)
- Investment proofs for deductions
- Form 26AS and AIS/TIS statement
- GST returns (if GST registered)
7️⃣ 💸 Cost Involved
| Type of Filing | Approx. Cost (INR) |
| Basic ITR-3 Filing | ₹2,000 – ₹4,000 |
| ITR-3 + Bookkeeping | ₹5,000 – ₹10,000 |
| ITR-3 with Tax Audit (if applicable) | ₹10,000+ |
💡 Fees vary based on volume of transactions, profession, and audit needs.
8️⃣ ⏰ Time Taken
- Simple Cases: 2–3 working days
- With Capital Gains or Audit: 5–7 days
- Tax Audit Required? File before 31st Oct
📅 File early to avoid penalties and interest.
9️⃣ ⚠️ Common Mistakes to Avoid
❌ Watch out for:
- Using ITR-1 or ITR-4 wrongly
- Missing Schedule BP or P&L attachments
- Not reconciling with Form 26AS or AIS
- Underreporting capital gains
- Forgetting foreign assets/income disclosure
✅ Cross-verify everything before e-verifying your return.
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We’ll take care of bookkeeping + ITR filing + tax planning — Pan-India service!
1️⃣1️⃣ ❓ FAQs
Q1: Can salaried individuals file ITR-3?
👉 Only if they also have income from business/profession.
Q2: Is audit compulsory for ITR-3?
👉 Yes, if turnover > ₹1 crore or profits < 6% (non-digital) / 8% (cash).
Q3: What if I have income from capital gains and business?
👉 You must file ITR-3. ITR-4 doesn’t allow capital gains reporting.
Q4: Can I file ITR-3 after due date?
👉 Yes, with late fees under Section 234F.
