ITR-3 Filing
**The Entrepreneur's Form:** Mandatory for Individuals and HUFs having income from **Proprietary Business or Profession**.
Our CAs handle complex business income, financial statements, and audit requirements to ensure accurate and compliant ITR-3 filing.
Who Should File ITR-3?
Applicable to:
Individual or Hindu Undivided Family (HUF) having income from 'Profits and Gains of Business or Profession'
Income from Proprietary Business or Profession
Being a Partner in a Firm (receiving salary, interest, etc. from the firm)
Income from Capital Gains, Salary, House Property, and Other Sources IN ADDITION to business/profession income
Mandatory Documents Needed:
All documents from ITR-2
Books of Accounts and Financial Statements (Balance Sheet, P&L Account)
Audit Report (if liable for Tax Audit under Section 44AB)
Bank Statements for business transactions
Why Expert Assistance is Necessary
ITR-3 requires mandatory disclosure of the **Balance Sheet, Profit & Loss Account**, and often a **Tax Audit Report**, making professional CA assistance vital for compliance.
Frequently Asked Questions
ITR-3 is primarily for Individual or HUF taxpayers who have income from a Proprietary Business or Profession. It is the form used by entrepreneurs and business owners.
Yes. If you are a partner in a firm and receive income like salary or interest from the firm, you must file ITR-3.
Beyond typical salary and investment documents, you must provide your Books of Accounts, Financial Statements (Balance Sheet, P&L), and a mandatory Audit Report if you are liable for a Tax Audit under Section 44AB.
You must use ITR-3. If you have any income from business or profession, ITR-3 is mandatory, even if you have other sources of income like Capital Gains or salary.