ITR-3 Filing (Business + F&O + Intraday + Other Income)

What ITR-3 covers

ITR-3 is the most comprehensive return for individuals and HUFs who earn income from a proprietary business or profession and maintain regular books of account. It is the form for those who do not opt for — or no longer qualify for — the presumptive scheme, including traders with significant turnover, professionals with receipts above the presumptive limits, and anyone with business income alongside capital gains, multiple properties or partnership income.

Unlike Sugam, ITR-3 requires you to report a profit and loss account and balance sheet, claim depreciation, and disclose details of partners, GST turnover and more. It is the correct form for serious businesses that want an accurate picture of profit rather than a presumptive estimate.

Who needs to file ITR-3

• Proprietors running a business or profession and maintaining books of account.
• Partners in a firm receiving remuneration, interest or share of profit.
• Professionals whose receipts exceed the 44ADA presumptive limit or who choose actual-profit taxation.
• F&O and intraday traders, who report such activity as business income.
• Anyone with business income plus capital gains, foreign assets or multiple house properties.

Books, audit and the tax-audit trigger

If you file ITR-3, you generally need to maintain books under section 44AA. A tax audit under section 44AB becomes mandatory when business turnover exceeds ₹1 crore (raised to ₹10 crore where cash receipts and payments are each ≤5%), or professional receipts exceed ₹50 lakh. Audit cases also arise if you declare profit below the presumptive rate while your income exceeds the basic exemption limit.

We assess your audit applicability early, coordinate the audit where required (see our tax-audit service), and ensure the return and audit report are filed consistently to avoid mismatch notices.

Process and due dates

• Share your books, bank statements, GST returns, fixed-asset details and capital gains statements.
• We finalise the P&L and balance sheet, compute depreciation and business income, and reconcile with AIS/26AS.
• You approve; we file ITR-3 and assist with e-verification.
• Due date: 31 July for non-audit cases, 31 October where a tax audit applies.

Why TCC for ITR-3

ITR-3 is where bookkeeping, tax law and audit rules intersect. As an experts-led firm we prepare your financials, get the depreciation and disallowances right, manage audit linkage, and keep the whole exercise on a predictable fixed fee — so your business return is accurate, defensible and on time.