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Itr-3 Return

ITR 3 Form is applicable for individuals and Hindu Undivided Families who make profits and gains from business or profession.

If the income of the individual or Hindu Undivided Family is as a partner of a partnership firm carrying on business then ITR-3 cannot be filed as in such cases the individual is required to file ITR-2.

Eligibility to file ITR 3 Form

ITR 3 is to be filed by individuals and HUFs who earn income from carrying on a profession or from a proprietary business. Form ITR 3 can be used when the income of the assessee falls in the categories mentioned below:

  • Income from carrying a profession
  • Income from proprietary business
  • In addition, business returns may also include income from house property, salary or pension, and other sources.

 

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