Structure of ITR-3 Form
The ITR-3 Form especially applies to those Individuals and Hindu Undivided Families who are enlisted as partners in a firm. According to Rule 12 of the Income Tax Rules, 1962, the ITR-3 does not apply to the individuals who are proprietors of a firm. Mainly, it is for the business which incorporates association bargains. It is likewise relevant for professionals but it should be a partnership profession.
Eligibility and Non-eligibility to file ITR-3 Form
- ITR-3 Form is filed when an individual or an HUF is a partner in a firm and where income chargeable to income-tax includes the income by way of any interest, salary, bonus, commission or remuneration.
- If income is from any kind of business or profession under any proprietorship, this return form should not be used.
How do I file my ITR-1 Form?
There are two ways to submit ITR-1 Form:
- Offline: Fill and submit the form with necessary documents.
- Online: Fill the form and submit data electronically. After that, submit the verification of the return in Return Form ITR-V. Once the return is filed, download two copies of ITR-V Form. One copy should be signed and sent to the office of Income Tax Department and the other copy should be retained by the individual for the record.
For any help on ITR Filing feel free to consult the tax experts at Taxraahi. You can file ITR yourself via our ITR software or get CA’s help on filing income tax return. You can also use the option of Business Return, Bulk Return or Revised Return Filing.
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