This page explains all essential need-to-know about ITR-3 Form including eligibility, form structure, filing guidelines and related terms and definition. This form is used by the companies who does not claim the exemption mentioned under Section-11. The exemptions mentioned under Section 11 are the ones who earn income from the religious or charitable trust.
This Income Tax Return Form is meant for individuals and HUF who are partners in a firm; but do not carry business under proprietorship.
Income Tax Return is prepared on ITR-3 when:
This Return Form should not be used by an individual whose total income for the AY 2015-16 includes Income from Business or Profession under any proprietorship.
The form is divided into 2 parts and 23 schedules:
The 23 schedules are:
Filling Sequence for parts and schedules
The Income Tax Department advises assesses to follow the sequence mentioned below while filling out the income tax return
This return form can be filed with the Income Tax Department in the following ways:
Online / Electronically:
When the return is filed online, the assessee should print out two copies of ITR-V Form. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to Post Bag No. 1, Electronic City Office, Bengaluru–560100 (Karnataka).
The other copy may be retained by the assessee for his record.
Note: When the return filed on paper, the acknowledgement slip attached with the return form should be duly filled.
When are you required to file electronically?:
No attachments or documents including TDS certificate need to be attached with ITR-3 while sending it.
In case the return is to be furnished in a paper format or electronically under digital signature or in a bar coded return format, please fill up the required information in the Verification form. Please ensure that the verification has been signed before furnishing the return. Write the designation of the person signing the return.
If the return is filed electronically, please fill out ITR-V.
Please note that any person making a false statement in the return or the accompanying schedules shall be liable to be prosecuted under section 277 of the Income-tax Act, 1961 and on conviction be punishable under that section with rigorous imprisonment and with fine.