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Online ITR-3 Form Filing


Form ITR 3 is to be filed by Individuals and HUFs who have income under the head “profits or gains from business or profession” and who are not eligible to file ITR- 4 (SUGAM)

Get your Financial statements preparation and ITR-4 return filing by our Tax Advisor at just Rs.9999/-

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Income Tax Returns in India

Income Tax Return is a form containing the information of income and tax paid of the assessee which is used to file the income tax with the Income Tax Department of India. Income tax is a tax imposed by the Central Government of India on income of a person under various criteria and every citizen/entity should file income tax returns. IT-R is verfied by IT department of India. There are various types of IT-R like ITR 1, ITR 2, ITR 3, ITR 4, ITR 5, ITR 6, ITR 7 Income tax is to be filed by Individuals and HUFs who have income under the head “profits or gains from business or profession”. AADHAAR CARD IS MANDATORY FOR INCOME TAX FILING.

ITR-3 form filing - Income Tax Returns

Form ITR-3 is to be filed by Individuals and HUFs who have income under the head “profits or gains from business or profession”. In other words an individual running a proprietorship business or having professional income and who are not eligible to file ITR-4. Individuals / HUFs having income as a partner from partnership business,in such cases ITR-3 cannot be files and have to file ITR-2.

Who is eligible file ITR-3 form ?

Form ITR-3 is to be filed by Individuals and HUFs who have income from profits and gains and source of income falls under any below categories :

  • • Income from business or profession.
  • • Income from house property
  • • Income from Salary/Pension and other sources.

Who cannot file ITR-3 form ?

ITR-3 form should not be filed for below cases ::

  • • An individual / HUF having income as a partner of a partnership firm that is carrying out business/profession.

What is the Due Date for return filing & Penalty for not filing ?

ITR-3 form must be filed by individuals on or before 31st July of every year and 30th September for Businesses.

The penalty for late filing income tax return is Rs.5000 - if filed before 31st December and Rs.10,000 - if filed before 31st March.

Other kind of penalites are as follow:

  • Incorrect Form : In case an incorrect form has been used to file the returns, then it will be treated as “defective” and the assessee will be asked to file a revised ITR using the correct form. the assessee have to file revised return within 15 days from the date of the intimation. If not done as required,the assessee will be facing all the penalties prescribed to not filing ITR. As well as, interest will get charged, u/s 234A, for the delay.

  • Under Reporting : In case if it is found that the actual income exceeds the income declared by the assessee Or when no return has been filed despite income exceeding the basic exemption limit. Penalty at 50% of tax payable on such under-reported income shall be payable. 200% of the tax will payable if under-reporting results from misreporting of income.

  • Defaulter :  In case a demand notice u/s 156, has been issued to the taxpayer for payment of tax (other than notice for payment of advance tax). Then such amount, as per section 220(1), shall be paid within 30 days of the service of the notice at the place and to the person mentioned in the notice. If the taxpayer defaults in payment of any tax due, then apart from other penal provisions, he is treated as an assessee in default. For an assessee in default, the penalty will get levied as decided by the AO. However, the penalty cannot exceed the amount of arrears in tax. The taxpayer is given a reasonable opportunity of being heard before been penalized and No penalty is levied if the taxpayer can prove otherwise.

  • Penalty in case of income from undisclosed sources :  The AO may make an addition to the income of a taxpayer as per Section 68, 69, 69A, 69B, 69C or 69D if the explanation about the nature and source of his income is not satisfactory. The AO is empowered to levy penalty at the rate of 10% of the tax payable if any addition is made. However, no penalty shall be levied if this income has been disclosed in the ITR and tax paid, u/s 115BBE, on or before the end of the relevant previous year.

Benefits of filing ITR-3 form

Precise Financial Document :

 ITR are evidence of your income. It benefits for loans, visa etc.

Easy Tenders :

  Businesses registered under MSME | SSI gets multiple government tender benefits which are open only to MSMEs to promote small business participation in the India.

Refund Claim :

  ITR filing is required to claim refunds under TDS or if excess tax is paid etc.

Commercial Good Will Benefits :

  ITR gives the retail value to taxplayer. It helps for tendering and various other busines saspects.

Avoid penalties :

  There are penalty for non-filing of income tax returns and hence it is always advisable to file return.

Loans Benefits :

  ITR is necessary for applying for any loans such as a home loan, car loan, etc. The eligibility for loan would depend on your income. This can be established through filed ITRs.

Visa Benefits :

 Proff of earning is required for overseas travel. ITR is helps meet that purpose.

Documents Required For ITR-3 Filing

Individual Documents

Aadhaar card of Individual/ Owner/ Director/ Designated Partner
PAN card of Individual/ Owner/ Director/ Designated Partner
Primary Phone Number and Email ID
Bank Statments
Investment related data(IF any)
Other income related details

Other Documents

Data for income from share trading, fixed securities,section 80 etc.
Income and Expenditure details, if any
Interest declaration – Interest on savings accounts via 80TTA
Statement of receipts and payments when no regular books are maintained
TDS- Form 26AS related data
Other business related documents (In case of business)

In case of business,you are required to share Business or Profession Details,Business Expenses, Business Loan, and Books of Accounts (if available), Investments, Sales and Purchase Details, Any other incomes, Investments or Savings details .

You may refer to the Eligibility section before return filing.

For further queries kindly refer our FAQ section

Stages For ITR 3 filing through Legal Munshi

Stage 1. Aaadhaar & PAN Card :

Arrange for Aadhaar card and PAN card of Individual whose return is to be filied.

Stage 2. Documents, Email & Phone number:

Arrange for all the documents whose list will be shared by our expert along with primary email and phone number for communication purposes by IT department.

Stage 3. Bank Details :

Arrange for the bank details which is to be mentioned for refund purposes.

Stage 4. Computation of Income and Tax Amount :

Based on the documents shared our expert will compute the income tax and compile TDS value based on form 26AS for that financial year.

Stage 5. Determine Income Tax Return Form :

Based on computation and approval from you, ITR 3 will be filed.

Stage 6. Filing of Return :

Once the filing is done,our expert will provide you with acknowledgement.

Procedure for ITR 3 filing with Legal Munshi

Step 1 : Complete Our Simple Online form

You have to provide the details in the form.

Step 2 : Expert Guidance

Once you have provided the details, our expert will guide you with the all the documents required for return filing process.

Step 3 : Return Filing

After submission and upon successful verification of all the required documents, one of our experts will do the return filing.

Step 4 : Congratulations!!!

Once the filing is done we will inform you and provide the necessary documents.

Pricing and Packages



All inclusive Fees

Financial statements preparation and ITR-3 (Non Audited) return filing for a taxpayer with taxable income of less than Rs.25 lakhs. Inclusive of government fee and GST.



All inclusive Fees

Financial statements preparation and ITR-3 (Non Audited) return filing for a taxpayer with taxable income of between Rs. 26 Lakhs to Rs.50 lakhs. Inclusive of government fee and GST.



All inclusive Fees

Financial statements preparation and ITR-3 (Non Audited) return filing for a taxpayer with taxable income of between Rs. 51 Lakhs to Rs. 01 Crore. Inclusive of government fee and GST.

A taxpayer is required to have a tax audit carried out if the sales, turnover or gross receipts of business exceed Rs 1 crore in the financial year and audited in certain other circumstances. You must file the tax audit report on or before the due date of filing the return of income.

Due date for taxpayer with international transaction is 30th November of the the subsequent year and other taxpayer is 30th September of the subsequent year.

Penalty of non filing or delay in filing tax audit report is the least of the following may be levied :

  • •0.5% of the total sales, turnover or gross receipts
  • •Rs 1,50,000

FAQs on ITR-3 Form Filing

What is ITR Filing?

Know more about ITR-3 here.

What are the benefits of ITR-3 Filing?

You can get the details about it here.

What documents are required for the registration?

Refer to the required documents list here.

What is Revised Return?

If you have already filed your income tax return but you later discover that you have made a mistake in it, you can re-file. This is called a Revised Return.

What is Notice Number?

You should fill this in only if you are filing your return in response to a notice from the Income Tax Department.

What is Advance Tax ?

For salaried individuals, TDS mostly takes care of advance tax payments. However you might have other forms of income – like interest on savings bank accounts,etc. If tax on income is more than Rs. 10,000 per year, than you are required to estimate your income and pay Advance Tax. This has to be paid in quarterly installments in June, September, December and March.

What is Self Assessment Tax Payments?

Refer to the required documents list here.

What is Annexure-less Return?

ITR-3 Form is an Annexure-less return. This means that you do not have to attach any documents (such as Form 16/Form 26AS) with the ITR-3 Form.