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What is ITR 3 Form?

Individuals or HUF’s (must be partners in a firm) earning income from a business or profession in the form of profits & gains are eligible to file ITR 3. It is mandatory for a person to file ITR 3 if he or she is a partner in a firm and earning income in the form of salary, interest, bonus, commission etc. This income is chargeable and comes under the head “Profits or gains of business or profession”.

ITR 3 Form Filing

Who can file ITR 3 Form?

ITR 3 form can be filed by persons earning income from the following sources –

  1. Income earned from salary/pension
  2. Income earned by individuals or HUF’s who are partners in a firm and earning income in the form of salary, bonus, interest, commission etc.
  3. Income from house property
  4. Income from other sources
  5. Income from investment in unlisted equity shares

Who cannot file ITR 3 Form?

Any individual/HUF earning income as a partner in a partnership firm that is running business under proprietorship is not eligible to file ITR 3 form.

Due Date for filing ITR 3 Form

The due date or deadline for filing ITR 3 form for individuals and businesses are as follows –

  1. For Individuals – 31st July
  2. For Businesses – 30th September

How to file ITR 3?

There are two ways of filing or submitting ITR 3 to the income tax department –

Offline Procedure to File ITR 3

There are two methods by which you can file your return offline –

  1. By submitting or filing return in a paper form
  2. By furnishing a bar-coded return.

Online Procedure to File ITR 3

The online procedure of filing ITR return is considered as the easiest and widely used procedure in India. You just need to fill your income as well as personal details in the software and it will calculate your tax automatically. You can file your tax return online in the following ways –

  1. Submission of return electronically and thereafter e-verifying your return online with a digital signature.
  2. Submission of return electronically and thereafter sending the generated form ITR-V to CPC office, Bangalore for verification. Taxpayer should send 2 copies of ITR-V form duly signed by the taxpayer to the income tax department by ordinary post within 120 days on the below mentioned address –

CPC Office,
Post Bag no. 1,
Electronic City office,
Bengaluru (Karnataka) - 560100

Note – In case you filed your income tax manually, make sure that the acknowledgement slip attached with the return form is filled properly.

ITR 3 Form Format

Download ITR 3 Form for Assessment Year 2019-20 by clicking below link –

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