ITR 3 Income Tax Form

ITR 3

ITR 3 return form is used by an individual or an HUF who is a partner in a firm and not carrying out business or profession under any proprietorship.

Who is eligible to file Form ITR 3 

This income tax form is to be used by an individual or  an HUF when:

  • A partner in a firm and
  • Where income chargeable to income-tax under the head “Profit or gains of business or profession” does not include any income except the income by way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by  him from such firm.

In case, a partner in the firm does not have any income from the firm by way of interest, salary, etc. and has only way to share in the profit of the firm, he shall use this form only and not Form ITR-2.

Who is not eligible to file Form ITR 3 

This return form should not be used by an individual whose total income includes Income from Business or Profession under any proprietorship.

Click here to download ITR 3 form from Income Tax Department.

Annexure -less Return Form

No document (including TDS certificate) should be attached to this return form. All such documents enclosed with this return form will be detached and returned to the person filing the return.

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How to file ITR 3 Form?

This Return Form can be filed with the Income-tax Department in any of the following ways:

Offline:

  • By furnishing a return in a physical paper form.
  • By furnishing a bar-coded return.

Online/Electronically:

  • By furnishing the return electronically under digital signature.
  • By transmitting the data electronically and then submitting the verification of the return in Return Form ITR-V

When the ITR 3 filed online, the assessee should print out two copies of ITR-V form. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to post Bag No.1, Electronic City Office, Be0ngaluru – 560100 (Karnataka).

When are you required file electronically?

  • A resident assessee having any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India, shall fill out schedule FA and furnish the return electronically.
  • From the assessment year 2013-14 onwards all assessee having total income more than ₹5 lakh are required to furnish the return electronically.
  • Assessee claiming relief under section 90, 90A or whom Schedule FSI and Schedule TR apply.

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