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ITR 3

ITR-3 Filing | ADV Om Prakash Jha – Tax & Legal Consultancy
ITR-3 Filing — FY 2025-26 (AY 2026-27)

File Your ITR-3
For Business &
Profession Income

ITR-3 is mandatory for individuals and HUFs with income from business or profession — including partners in firms, freelancers, consultants, doctors, lawyers, and traders. Handled with expert precision.

Begin Filing → Calculate Tax First
Practice Overview
📋
1200+
ITRs filed across all types
⚡
48 hrs
Average turnaround time
🏛️
10+ yrs
GST & income tax practice
✅

Due Date: 31 July 2026
Audit cases: 31 Oct 2026. Belated return till 31 Dec 2026 under Sec 234F

⚖️ Bar Council Registered
🔒 Data Confidential
📅 Deadline: 31 July 2026
💰 No Hidden Charges
📲 Delhi & Pan-India
Eligibility

Who Should File ITR-3?

ITR-3 is for individuals and HUFs who earn income from a proprietary business or profession, along with any other income sources.

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Proprietary Business

Individuals running any proprietary business — traders, manufacturers, shop owners, e-commerce sellers, and all business owners.

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Professionals

Doctors, lawyers, architects, CAs, engineers, consultants, and all individuals earning professional fees or service income.

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Partner in a Firm

Individuals who are partners in a partnership firm — receiving remuneration, interest, or share of profit from the firm.

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Freelancers & Contractors

Freelance professionals, content creators, IT contractors, designers, and anyone receiving project-based professional income.

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F&O / Intraday Traders

Futures & Options trading income and intraday equity trading income is treated as business income — ITR-3 is mandatory.

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Business + Other Income

Business income along with salary, capital gains, house property, or foreign income — ITR-3 accommodates all income schedules.

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Opted Out of Presumptive

Taxpayers who previously opted for presumptive taxation (ITR-4) and wish to switch back, or exceed the presumptive income limits.

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Cannot Use ITR-3

Companies, LLPs, and partnership firms cannot file ITR-3. Salaried individuals with no business income should use ITR-1 or ITR-2.

Quick Comparison

ITR-1 vs ITR-2 vs ITR-3 vs ITR-4 — Which One Is Yours?

Income Source / Situation
ITR-1
ITR-2
ITR-3 ★
Salary / Pension
✔
✔
✔
Capital Gains (STCG / LTCG)
✖
✔
✔
Multiple House Properties
✖
✔
✔
Proprietary Business Income
✖
✖
✔ ITR-3 Only
Professional Income (Doctor, CA etc.)
✖
✖
✔ ITR-3 Only
F&O / Intraday Trading
✖
✖
✔ ITR-3 Only
Partner in Firm (Remuneration / Profit)
✖
✖
✔ ITR-3 Only
Foreign Income / NRI Status
✖
✔
✔
Tax Audit Required (Turnover > ₹1Cr / ₹50L)
✖
✖
✔ ITR-3 Only
Free Tool

Business Income Tax Calculator — FY 2025-26

Estimate tax on business/professional income. Includes capital gains, F&O, and regime comparison.

Steps
1
Basic Info
2
Business Income
3
Other Income
4
Deductions
Basic Information
Set your profile for accurate tax slab and regime computation.
Business / Professional Income
Enter net profit after all business expenses. ITR-3 requires a full P&L statement.
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Audit required if turnover > ₹1Cr (business) / ₹50L (profession)
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Taxable business profit after deducting all allowable expenses
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Treated as non-speculative business income
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Speculative business — losses can only offset speculative income
Other Income Sources
ITR-3 captures all income heads — add salary, capital gains, and property income if applicable.
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Deductions & Exemptions
Applicable under Old Regime. New Regime allows only limited deductions for business filers.
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Tax Liability Summary
Old Regime
₹ —
Incl. deductions + 4% cess
New Regime
₹ —
Std. ded. ₹75,000 + 4% cess
You Save
₹ —
Fill all steps to calculate
Total Gross Income—
Business Profit Tax—
Capital Gains Tax—
Digital Asset Tax (30%)—
SurchargeNil
Education Cess4%
How It Works

Filing Process — 5 Simple Steps

1

Submit Details

Fill the contact form with your business type, income sources, and callback preference.

2

Document Collection

Share P&L, balance sheet, bank statements, Form 26AS, capital gains reports securely.

3

Expert Computation

We compute taxable profit, apply allowable deductions, and compare Old vs New Regime.

4

Your Approval

A detailed computation draft is shared for review before any submission is made.

5

ITR-3 Filed ✓

Return filed on IT portal. E-verification guided. ITR-V acknowledgement within 24 hrs.

Checklist

Documents Required for ITR-3

ITR-3 requires financial statements of your business in addition to personal income proofs. Keep all records ready.

Identity & Basic

  • PAN Card (mandatory)
  • Aadhaar (linked to PAN)
  • Bank account details (IFSC)
  • GST registration certificate (if applicable)

Business Financials

  • Profit & Loss statement for FY 2025-26
  • Balance sheet (if books are maintained)
  • All business bank statements
  • Purchase and sales invoices / bills
  • Tax audit report (Form 3CA/3CB + 3CD) if applicable

Professional Income

  • Fee receipts / invoices for the year
  • TDS certificates (Form 16A) from clients
  • Form 26AS / Annual Information Statement
  • Expense bills (office rent, staff, equipment)

Partnership / Firm

  • Partnership deed (current and executed)
  • Firm's audited financials / ITR filed by firm
  • Certificate of partner remuneration & interest
  • Schedule of profit share from firm

Capital Gains & Trading

  • F&O trade ledger from broker (P&L)
  • Intraday trade statement for FY
  • Equity / MF capital gains statement
  • Broker contract notes (for audit)
  • Property sale deed (if any)

Deduction Proofs

  • LIC, PPF, ELSS receipts (80C)
  • Health insurance premium (80D)
  • NPS contribution receipt (80CCD)
  • Donation receipts (80G)
  • Home loan interest certificate (if any)
Get In Touch

Start Your ITR-3 Filing

Share your details and we'll reach out within a few hours to review your business income profile and begin the filing process.

📧

opjhaom@gmail.com

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Delhi, India (Pan-India Service)

📅

31st July 2026 / 31st Oct 2026 (Audit)

⏱️

Within 24 hours (business days)

File Your ITR-3 Today

Fill the form — we'll contact you to collect documents and file your return.

    [acceptance* terms]
    I confirm that the information provided is correct and I authorize tax filing assistance and ITR-3 preparation on my behalf.
    [/acceptance]

    FAQs

    Frequently Asked Questions

    Common questions about ITR-3 filing for business and professional income.

    What is the due date for ITR-3 for FY 2025-26?

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    For individuals not liable to tax audit, the due date is 31st July 2026. For those liable to audit under Section 44AB (turnover above ₹1 crore for business or ₹50 lakh for professions), the due date is 31st October 2026. Belated returns can be filed until 31st December 2026 with a late fee under Section 234F.

    I trade in Futures & Options — must I file ITR-3?

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    Yes. Income or loss from F&O trading is treated as non-speculative business income under the Income Tax Act, regardless of the volume. This mandates filing ITR-3. Intraday equity trading is treated as speculative business income and also requires ITR-3. ITR-2 is not applicable for F&O income.

    When is a tax audit mandatory for ITR-3 filers?

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    Tax audit under Section 44AB is mandatory if business turnover exceeds ₹1 crore (or ₹10 crore if cash transactions are below 5%), or professional receipts exceed ₹50 lakh. For F&O traders not opting for presumptive taxation, audit may be required even below these thresholds if losses are claimed.

    Can I claim business expenses against professional income in ITR-3?

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    Yes. ITR-3 allows deduction of all legitimate business and professional expenses — office rent, salaries, depreciation, professional fees, travel, internet, equipment, and more — under Sections 28 to 44 of the Income Tax Act. Maintaining proper books of accounts and supporting bills is essential.

    Can a partner in a firm file ITR-3?

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    Yes. A partner in a partnership firm must file ITR-3 to report remuneration, interest received from the firm, and their share of profit. The firm itself files a separate ITR-5. The partner's ITR-3 must be consistent with the firm's audited accounts.

    Is the New Tax Regime available for ITR-3 filers?

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    Yes, but with a key restriction. Business and professional taxpayers who opt for the New Regime can only switch back to the Old Regime once. After opting out of the New Regime, they cannot re-enter it. Salaried individuals have the flexibility to switch every year, but business filers do not. This decision requires careful planning.

    How is depreciation treated in ITR-3?

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    Depreciation on business assets (machinery, computers, vehicles, furniture) is deductible under Section 32 at prescribed WDV rates. ITR-3 requires a complete depreciation schedule. If you opt for the New Regime, depreciation continues to be allowed as it is a business expense, not a personal deduction.

    What is the difference between ITR-3 and ITR-4 (Sugam)?

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    ITR-4 (Sugam) is for taxpayers who opt for presumptive taxation under Sections 44AD, 44ADA, or 44AE — where income is deemed at a fixed percentage of turnover without maintaining detailed books. ITR-3 is for actual income computation with full books of accounts. Taxpayers with turnover exceeding presumptive limits, F&O income, capital gains, or who opt out of presumptive taxation must use ITR-3.