Documents Required
- Form 16 / Salary Slips (in case of income from salary)
- Rental Agreement, if any
- Proof of Rental Income if any
Features
ITR-3 Return Filing
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Basic
- INCOME TAX RETURN FILING
TaxInno’s Tailored Solutions for ITR-3 Filing
At TaxInno, we make the ITR-3 filing process simple, accurate, and stress-free. Whether you’re an individual earning income from a business or a Hindu Undivided Family (HUF), we’ve got you covered with expert guidance and a seamless filing experience.
What is the ITR-3 Form?
The ITR-3 Form is used by taxpayers who earn income from a business or profession. It helps ensure compliance with the Income Tax Act of India.
Who Should File the ITR-3 Form?
The ITR-3 form applies to individuals and HUFs meeting the following criteria:
| Eligibility Criteria | Details |
| Directorship | Taxpayer is a director in a company or engaged in a business. |
| Residential Status | Taxpayer can be a resident or non-resident. |
| Pension Income | Receiving income from a pension. |
| House Property Income | Earning income from one or more house properties. |
| Investments in Unlisted Shares | Holding investments in unlisted equity shares. |
| Profits from Business/Profession | Income from salary, commission, or other business/professional earnings. |
| Income from Other Sources | Income from lotteries, gambling, capital gains, etc. |
| Foreign Income | Income from foreign assets or foreign sources. |
Who is Not Eligible to File the ITR-3 Form?
| Ineligible Case | Details |
| Partner in a Partnership Firm | Use ITR-2 if income is earned as a partner of a partnership firm. |
Due Dates for Filing ITR-3 Form
| Assessment Year | Non-Audit Case Due Date | Audit Case Due Date |
| 2023-24 | July 31, 2023 | October 31, 2023 |
Note: Stay updated with notifications from the Income Tax Department as due dates may change.
Late Filing Penalties for ITR-3 Form
| Late Filing Scenario | Penalty |
| Filed before December 31, 2023 | ₹5,000 late fee |
| Filed after December 31, 2023 | ₹10,000 late fee |
| Income below ₹5 Lakh | Maximum late fee of ₹1,000 |
Documents Required for ITR-3 Form Filing
| Document | Purpose |
| PAN | Required for identification. |
| Aadhaar Card | Required for verification. |
| Bank Details | Account number and IFSC code for tax credit. |
| Form 16 | For salaried individuals (if applicable). |
| Books of Accounts | If you have income from a business or profession. |
| Investment Details | To declare income from interest, dividends, etc. |
Sections of the ITR-3 Form
| Section | Purpose |
| General Information | Personal details like name, address, date of birth, PAN, etc. |
| Income Details | Declare income from salary, business, house property, etc. |
| Deductions and Taxes Paid | Claim deductions under sections like 80C, 80D, and report taxes paid. |
| TDS/TCS Credit | Report Tax Deducted at Source (TDS) or Tax Collected at Source (TCS). |
| Income from Business/Profession | Details about business or professional income. |
| Verification and Declaration | Validate return via digital signature or physical verification. |
Why Choose TaxInno for ITR-3 Filing?
| Feature | Benefit |
| Expert Guidance | Comprehensive support for every step of the process. |
| Accuracy | Minimized errors to ensure compliance. |
| Timely Filing | Avoid penalties with on-time submissions. |
| Convenience | File returns securely from anywhere using our platform. |
| Customer Support | Post-filing assistance to address any queries. |
How TaxInno Simplifies Your ITR-3 Filing
| Feature | How We Help |
| Expert Assistance | Step-by-step guidance from our professionals. |
| Document Management | Help with organizing and uploading necessary documents. |
| Deductions Optimization | Maximize eligible deductions to reduce tax liability. |
| Timely Reminders | Notifications about key filing deadlines. |
| Secure Filing | Protecting your personal and financial information. |
Get Started with TaxInno
Ensure compliance with Indian tax laws by filing your ITR-3 form with ease. Contact TaxInno today for expert assistance and enjoy a seamless filing experience. Focus on growing your business while we handle the complexities of tax filing.
