What is ITR-3?

ITR-3 is the Income Tax Return form applicable to individuals and Hindu Undivided Families (HUFs) earning income from business or profession, along with other eligible income sources. It captures comprehensive financial data to ensure transparency and full tax compliance for taxpayers with diversified incomes.

Who Should File ITR-3?

You should file ITR-3 if:

• You are an individual or HUF with income from proprietary business or profession

• You are a director in a company

• You have capital gains, house property income, or foreign assets

• You’ve invested in unlisted equity shares

• You earn from lottery, betting, or other legal gambling

• You have pension or other taxable income from various sources
  
  

Additionally, ITR-3 applies if you are running a proprietorship business or rendering professional services under your name.

ITR-3 Filing Due Dates for AY 2025–26

• Non-audit cases: July 31, 2025

• Audit cases (under Sec 44AB): October 31, 2025
  
  

These deadlines are subject to updates by the Income Tax Department.

Late Filing Penalties for ITR-3

• ₹5,000 if filed after the due date but before Dec 31

• ₹10,000 if filed after Dec 31

• ₹1,000 (max) if total income is below ₹5 lakh
  
  

Avoid penalties by filing on time with FilingPool’s expert help.

Documents Required for ITR-3 Filing

• PAN and Aadhaar

• Bank details (account number + IFSC)

• Form 16 (if salaried)

• Business income details or profit/loss account

• Books of accounts (if applicable)

• Investment and capital gain statements

• TDS/TCS certificates

• GST return data (if applicable)
  
  

Key Sections in the ITR-3 Form

• Part A – General information, balance sheet, P&L, quantitative data

• Income Schedules – Salaries, house property, capital gains, business/profession

• Deduction Schedules – 80C, 80D, 80G, 10AA, etc.

• TDS/TCS – Tax credits and section-wise reporting

• Foreign Assets (Schedule FA) – Mandatory if you hold assets outside India

• Verification – Includes declaration and digital signature
  
  

Major Changes in ITR-3 for AY 2025–26

• Capital Gain Split – Segregation before/after 23 July 2024 as per Finance Act

• Buyback Loss Allowance – Loss allowed post 01 Oct 2024 with dividend disclosure

• Asset & Liability Limit Increased – Reporting threshold now ₹1 crore

• New Section 44BBC – For cruise business (presumptive income @20%)

• Detailed Deduction Reporting – For sections like 80C, 10(13A)

• TDS Section Code Reporting – Mandatory in TDS schedule for better accuracy
  
  

How to File ITR-3 with Filing Pool

1. Consultation – We review your income, profession, and compliance history

2. Document Collection – Securely gather all necessary records

3. Review & Optimization – We optimize deductions and apply the correct ITR form

4. e-Filing – Submit the return digitally via the income tax portal

5. Post-Filing Support – From notices to refund tracking, we stay with you
   
   

Why Choose Filing Pool for ITR-3 Filing in Lucknow?

• Dedicated CAs experienced in ITR-3 and business compliance
• Regime comparison: Old vs New for optimum tax planning
• Transparent pricing with no hidden fees
• Timely filing and reminders to avoid penalties
• Post-filing support, including assessment or audit response