Step 1: Fill the general information section in Part A While filling the ITR-3 form, make sure to follow the order mentioned below to avoid making mistakes: Part B consists of the total income, taxable income, and other tax computations. Quantitative details (applies when you are eligible for audits under Section 44AB).
General information about the individual (or HUF) and the type of business.ITR-3 form has two parts: Part A and Part B. Income from overseas assets that belong to you.Income from the lottery, races, and legal gambling.Income from a profession/business that is run as a proprietorship.Income from capital gains – short-term and long-term.Income from a house property – single house or multiple houses.You can file your income tax returns using the ITR-3 form if your total income is derived from: Instead, he/she should choose the ITR-2 form. However, note that if an individual earns income as a partner of a firm, he/she cannot file ITR-3. Individuals who earn income from house property, his/her profession like doctors, lawyers, etc and other sources.Individuals who run an inherited proprietorship business.Let's take a closer look at this income tax return form – who is it for, how to fill it and more. The ITR-3 form is for individuals and HUFs (Hindu Undivided Families) who earn income from a proprietary business or by practising his/her profession.
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