The ITR-3 form is meant for individuals and Hindu Undivided Families (HUFs) who earn an income through business or professional activities and are required to maintain books of accounts. This form is not meant for those without any business or professional income. However, salaried individuals with extra earnings from freelancing, trading, or part-time business may still need to file ITR-3 if business income is involved. It allows taxpayers to report multiple sources of income, provided one of them is business or profession related. Filing ITR-3 ensures proper reporting and tax compliance for such taxpayers.
What is ITR-3 form?
The ITR-3 is for individuals and HUFs who have income from a business or profession. It covers a wide range of incomes, including salary, house property, capital gains, and other sources. Those earning from partnerships can also use this form to report their remuneration. Individuals not having business income, or income from a firm, cannot use this form. The due date to file ITR-3 is 31st July (non-audit cases) and 31st October (audit cases) for the assessment year. This form is quite detailed and includes all income heads.
What is the due date for filing ITR 3 form?
The last date to file ITR-3 depends on whether the taxpayer's accounts are subject to audit.
Annual year |
For non-audit cases |
For audit cases |
AY 2025-26 |
31st July 2025 (Revised till 15th September 2025) |
31st October 2025 |
AY 2024-25 |
31st July 2024 |
31st October 2024 (Revised till 15th November 2024) |
AY 2023-24 |
31st July 2023 |
31st October 2023 |
For the financial year 2024–25 (AY 2025–26), the due date is 31st July 2025 for non-audit cases, extended to 15th September 2025 as per a press release. For audit cases, the deadline is 31st October 2025. Similarly, for AY 2024–25, the dates were 31st July 2024 (non-audit) and 15th November 2024 (audit). For AY 2023–24, the due dates were 31st July 2023 and 31st October 2023. Always refer to the latest circulars for any extensions.
What are the different methods of filing ITR-3 form?
There are three ways to file the ITR-3 form online:
Submit it electronically using a digital signature (mandatory for audit cases).
Submit it electronically using an Electronic Verification Code (EVC).
Submit the form online and send the signed physical ITR-V (verification) form to the Income Tax Department by post.
Taxpayers required to undergo tax audit must file using a digital signature. Others may use either of the other two methods. In all cases, it is essential to verify the return within the specified time to complete the filing process successfully.
Understanding the eligibility criteria
Before diving into how to file ITR-3, it’s important to understand who is eligible to use this form:
- Individuals and HUFs: Those who have income from a business or profession.
- Income sources: The form is suitable for those with income from proprietary businesses, professions, salary/pension, house property, capital gains, and other sources.
- Exclusions: ITR-3 is not applicable for individuals who are partners in a firm, as they must use ITR-2.
Key components of ITR-3
Filing ITR-3 involves several key components that need to be meticulously filled out:
- Personal information: Basic details like name, address, PAN, and Aadhaar.
- Income details: Comprehensive income reporting from business/profession, salary/pension, house property, capital gains, and other sources.
- Deductions: Claims under various sections like 80C, and 80D.
- Tax computation: Calculation of total income and tax liability.
- Bank details: Information about all bank accounts held during the financial year.
- Verification: Self-declaration affirming the accuracy of the information provided.
Preparation before filing ITR-3
To ensure a smooth filing process, gather the following documents and details:
- PAN and Aadhaar card: For identification and verification purposes.
- Form 16: If you have salary income.
- Bank statements: Reflecting your income and expenses.
- Business/professional income details: Income and expenditure details, profit and loss account, balance sheet.
- Investment proofs: Documents supporting claims for deductions under sections like 80C, 80D.
- Form 26AS: Tax credit statement for the financial year.
As you organise your financial documents for tax filing, it's also an ideal time to assess your readiness for major financial decisions like purchasing a home. Having your income documentation ready makes the home loan application process smoother with Bajaj Finserv. Check your loan offers today. You may already be eligible, find out by entering your mobile number and OTP.
How to file ITR-3 Online – Step-by-step process
- Step 1: Check eligibility for ITR-3:
Before starting the process, ensure you're eligible to file ITR-3. This form is specifically for individuals and HUFs with income from a proprietary business or profession. Also, if you have income sources like capital gains, income from multiple houses, and income from other sources, you need to file ITR-3. - Step 2: Gather relevant documents:
Arrange all necessary documents like your PAN card, Aadhaar card, bank account details, income and expense details related to your business or profession, balance sheet and profit & loss account details, Form 26AS, and proofs for any tax-saving investments. - Step 3: Visit income tax e-filing portal:
Visit the income tax department's official e-filing portal (www.incometaxindiaefiling.gov.in) and login to your account using your user ID (PAN), password and captcha. - Step 4: Select 'Filing of Income Tax Return':
After login, click 'e-file' option and select 'Filing of Income Tax Return' from the dropdown. Select 'ITR-3' as the ITR form name. - Step 5: Complete the form:
You will be required to fill in various details like personal information, current address, your business or profession code as per the income tax law, details of your income, deductions claimed under various parts of the IT Act, tax details, and more. - Step 6: Fill schedule BP:
This section requires the most detail as it pertains to your business or profession. Information pertaining to your trading account, manufacturing account, profit & loss account, balance-sheet details, and others have to be given here. - Step 7: Validate information before submission:
As you fill in the form, the portal auto-calculates the total income and tax thereon. Once all the relevant data is provided, validate the information. Cross-check the information with your supporting documents diligently to avoid any discrepancies. - Step 8: Pay the tax and submit your ITR form:
Pay off any outstanding tax and then proceed to submit your ITR form. An acknowledgment number will be generated. - Step 9: E-verify your ITR:
The final step is e-verification of your ITR, either via Aadhaar OTP, EVC generated through a bank account, demat account, net-banking, pre-validated bank account, or sending a signed ITR-V (Income Tax Return Verification Form) through regular or speed post.
Remember, the ITR-3 form is significantly more detailed than other ITR forms and may require professional help, especially for those not accustomed to understanding terms used in balance sheets or profit and loss accounts.
What is the structure of the ITR 3 Form for AY 2024-25 and AY 2025-26?
The ITR-3 form includes various sections and schedules:
Part A
Part A-GEN: General details and business/profession type.
Part A-BS: Balance sheet as on 31st March.
Part A-Manufacturing/Trading/P&L: Financial statements for the year.
Part A-OI: Optional information for non-audit cases.
Part A-QD: Optional quantitative details.
Schedules
Schedule-S, HP, BP: Income from salary, house property, and business/profession.
Schedule-CG, 112A, 115AD: Capital gains, including shares and VDAs.
Schedule-DPM, DOA, DEP: Depreciation details.
Schedule-OS: Other sources of income.
Schedule-CYLA, BFLA, CFL, UD: Loss set-off and carry forward.
Schedule-80G, 80IA, 80IB, 80IC, VI-A: Deductions under various sections.
Schedule-AMT, AMTC: Alternate Minimum Tax.
Schedule-SPI, SI: Special tax rates and income to be clubbed.
Schedule-EI, RA, FSI, TR, FA, PTI: Exempt income, research donations, foreign assets and income.
Schedule-IF, TPSA, GST, AL, 5A: Information on firms, transfer pricing, GST turnover, assets and liabilities.
Schedule-ESOP: Deferred tax on employee stock options.
Part B-TI & Part B-TTI: Total income and tax computation.
Verification: Declaration of correctness.
This structure helps report all types of income in a clear, segmented way for the tax department.
Maintaining organised financial records not only helps with tax compliance but also strengthens your profile for future financing needs. If you're considering property investment or homeownership, having clean financial documentation can help secure favourable home loan terms with Bajaj Finserv. Check your loan offers today. You may already be eligible, find out by entering your mobile number and OTP.
Business codes for ITR forms
Sector |
Sub‐sector |
Code |
Agriculture, animal husbandry and forestry |
Growing and manufacturing of tea |
1001 |
Growing and manufacturing of coffee |
1002 |
|
Growing and manufacturing of rubber |
1003 |
|
Market gardening and horticulture specialties |
1004 |
|
Raising of silk worms and production of silk |
1005 |
|
Raising of bees and production of honey |
1006 |
|
Raising of poultry and production of eggs |
1007 |
|
Rearing of sheep and production of wool |
1008 |
|
Rearing of animals and production of animal products |
1009 |
|
Agricultural and animal husbandry services |
1010 |
|
Soil conservation, soil testing and soil desalination services |
1011 |
|
Hunting, trapping and game propagation services |
1012 |
|
Growing of timber, plantation, operation of tree nurseries and conserving of forest |
1013 |
|
Gathering of tendu leaves |
1014 |
|
Gathering of other wild growing materials |
1015 |
|
Forestry service activities, timber cruising, afforestation and reforestation |
1016 |
|
Logging service activities, transport of logs within the forest |
1017 |
|
Other agriculture, animal husbandry or forestry activity n.e.c |
1018 |
|
Fish farming |
Fishing on commercial basis in inland waters |
2001 |
Fishing on commercial basis in ocean and coastal areas |
2002 |
|
Fish farming |
2003 |
|
Gathering of marine materials such as natural pearls, sponges, coral etc. |
2004 |
|
Services related to marine and fresh water fisheries, fish hatcheries and fish farms |
2005 |
|
Other Fish farming activity n.e.c |
2006 |
|
Mining and quarrying |
Mining and agglomeration of hard coal |
3001 |
Mining and agglomeration of lignite |
3002 |
|
Extraction and agglomeration of peat |
3003 |
|
Extraction of crude petroleum and natural gas |
3004 |
|
Service activities incidental to oil and gas extraction excluding surveying |
3005 |
|
Mining of uranium and thorium ores |
3006 |
|
Mining of iron ores |
3007 |
|
Mining of non‐ferrous metal ores, except uranium and thorium ores |
3008 |
|
Mining of gemstones |
3009 |
|
Mining of chemical and fertilizer minerals |
3010 |
|
Mining of quarrying of abrasive materials |
3011 |
|
Mining of mica, graphite and asbestos |
3012 |
|
Quarrying of stones (marble/granite/dolomite), sand and clay |
3013 |
|
Other mining and quarrying |
3014 |
|
Mining and production of salt |
3015 |
|
Other mining and quarrying n.e.c |
3016 |
|
Manufacturing |
Production, processing and preservation of meat and meat products |
4001 |
Production, processing and preservation of fish and fish products |
4002 |
|
Manufacture of vegetable oil, animal oil and fats |
4003 |
|
Processing of fruits, vegetables and edible nuts |
4004 |
|
Manufacture of dairy products |
4005 |
|
Manufacture of sugar |
4006 |
|
Manufacture of cocoa, chocolates and sugar confectionery |
4007 |
|
Flour milling |
4008 |
|
Rice milling |
4009 |
|
Dal milling |
4010 |
|
Manufacture of other grain mill products |
4011 |
|
Manufacture of bakery products |
4012 |
|
Manufacture of starch products |
4013 |
|
Manufacture of animal feeds |
4014 |
|
Manufacture of other food products |
4015 |
|
Manufacturing of wines |
4016 |
|
Manufacture of beer |
4017 |
|
Manufacture of malt liquors |
4018 |
|
Distilling and blending of spirits, production of ethyl alcohol |
4019 |
|
Manufacture of mineral water |
4020 |
|
Manufacture of soft drinks |
4021 |
|
Manufacture of other non‐alcoholic beverages |
4022 |
|
Manufacture of tobacco products |
4023 |
|
Manufacture of textiles (other than by handloom) |
4024 |
|
Manufacture of textiles using handlooms (khadi) |
4025 |
|
Manufacture of carpet, rugs, blankets, shawls etc. (other than by hand) |
4026 |
|
Manufacture of carpet, rugs, blankets, shawls etc. By hand |
4027 |
|
Manufacture of wearing apparel |
4028 |
|
Tanning and dressing of leather |
4029 |
|
Manufacture of luggage, handbags and the like saddler and harness |
4030 |
|
Manufacture of footwear |
4031 |
|
Manufacture of wood and wood products, cork, straw and plaiting material |
4032 |
|
Manufacture of paper and paper products |
4033 |
|
Publishing, printing and reproduction of recorded media |
4034 |
|
Manufacture of coke oven products |
4035 |
|
Manufacture of refined petroleum products |
4036 |
|
Processing of nuclear fuel |
4037 |
|
Manufacture of fertilizers and nitrogen compounds |
4038 |
|
Manufacture of plastics in primary forms and of synthetic rubber |
4039 |
|
Manufacture of paints, varnishes and similar coatings |
4040 |
|
Manufacture of pharmaceuticals, medicinal chemicals and botanical products |
4041 |
|
Manufacture of soap and detergents |
4042 |
|
Manufacture of other chemical products |
4043 |
|
Manufacture of man‐made fibres |
4044 |
|
Manufacture of rubber products |
4045 |
|
Manufacture of plastic products |
4046 |
|
Manufacture of glass and glass products |
4047 |
|
Manufacture of cement, lime and plaster |
4048 |
|
Manufacture of articles of concrete, cement and plaster |
4049 |
|
Manufacture of Bricks |
4050 |
|
Manufacture of other clay and ceramic products |
4051 |
|
Manufacture of other non‐metallic mineral products |
4052 |
|
Manufacture of pig iron, sponge iron, Direct Reduced Iron etc. |
4053 |
|
Manufacture of Ferro alloys |
4054 |
|
Manufacture of Ingots, billets, blooms and slabs etc. |
4055 |
|
Manufacture of steel products |
4056 |
|
Manufacture of basic precious and non‐ ferrous metals |
4057 |
|
Manufacture of non‐metallic mineral products |
4058 |
|
Casting of metals |
4059 |
|
Manufacture of fabricated metal products |
4060 |
|
Manufacture of engines and turbines |
4061 |
|
Manufacture of pumps and compressors |
4062 |
|
Manufacture of bearings and gears |
4063 |
|
Manufacture of ovens and furnaces |
4064 |
|
Manufacture of lifting and handling equipment |
4065 |
|
Manufacture of other general‐purpose machinery |
4066 |
|
Manufacture of agricultural and forestry machinery |
4067 |
|
Manufacture of Machine Tools |
4068 |
|
Manufacture of machinery for metallurgy |
4069 |
|
Manufacture of machinery for mining, quarrying and constructions |
4070 |
|
Manufacture of machinery for processing of food and beverages |
4071 |
|
Manufacture of machinery for leather and textile |
4072 |
|
Manufacture of weapons and ammunition |
4073 |
|
Manufacture of other special purpose machinery |
4074 |
|
Manufacture of domestic appliances |
4075 |
|
Manufacture of office, accounting and computing machinery |
4076 |
|
Manufacture of electrical machinery and apparatus |
4077 |
|
Manufacture of Radio, Television, communication equipment and apparatus |
4078 |
|
Manufacture of medical and surgical equipment |
4079 |
|
Manufacture of industrial process control equipment |
4080 |
|
Manufacture of instruments and appliances for measurements and navigation |
4081 |
|
Manufacture of optical instruments |
4082 |
|
Manufacture of watches and clocks |
4083 |
|
Manufacture of motor vehicles |
4084 |
|
Manufacture of body of motor vehicles |
4085 |
|
Manufacture of parts and accessories of motor vehicles and engines |
4086 |
|
Building and repair of ships and boats |
4087 |
|
Manufacture of railway locomotive and rolling stocks |
4088 |
|
Manufacture of aircraft and spacecraft |
4089 |
|
Manufacture of bicycles |
4090 |
|
Manufacture of other transport equipment |
4091 |
|
Manufacture of furniture |
4092 |
|
Manufacture of Jewellery |
4093 |
|
Manufacture of sports goods |
4094 |
|
Manufacture of musical instruments |
4095 |
|
Manufacture of games and toys |
4096 |
|
Other manufacturing n.e.c |
4097 |
|
Recycling of metal waste and scrap |
4098 |
|
Recycling of non‐ metal waste and scrap |
4099 |
|
Electricity, gas and water |
Production, collection and distribution of electricity |
5001 |
Manufacture and distribution of gas |
5002 |
|
Collection, purification and distribution of water |
5003 |
|
Other essential commodity service n.e.c |
5004 |
|
Construction
|
Site preparation works |
6001 |
Building of complete constructions or parts‐ civil contractors |
6002 |
|
Building installation |
6003 |
|
Building completion |
6004 |
|
Construction and maintenance of roads, rails, bridges, tunnels, ports, harbor, runways etc. |
6005 |
|
Construction and maintenance of power plants |
6006 |
|
Construction and maintenance of industrial plants |
6007 |
|
Construction and maintenance of power transmission and telecommunication lines |
6008 |
|
Construction of water ways and water reservoirs |
6009 |
|
Other construction activity n.e.c |
6010 |
|
Real estate and renting services |
Purchase, sale and letting of leased buildings (residential and non‐residential) |
7001 |
Operating of real estate of self‐owned buildings (residential and non‐residential) |
7002 |
|
Developing and sub‐dividing real estate into lots |
7003 |
|
Real estate activities on a fee or contract basis |
7004 |
|
Other real estate/renting services n.e.c |
7005 |
|
Renting of machinery
|
Renting of land transport equipment |
8001 |
Renting of water transport equipment |
8002 |
|
Renting of air transport equipment |
8003 |
|
Renting of agricultural machinery and equipment |
8004 |
|
Renting of construction and civil engineering machinery |
8005 |
|
Renting of office machinery and equipment |
8006 |
|
Renting of other machinery and equipment |
8007 |
|
Renting of personal and household goods n.e.c |
8008 |
|
Renting of other machinery n.e.c |
8009 |
|
Wholesale and retail trade
|
Wholesale and retail sale of motor vehicles |
9001 |
Repair and maintenance of motor vehicles |
9002 |
|
Sale of motor parts and accessories‐ wholesale and retail |
9003 |
|
Retail sale of automotive fuel |
9004 |
|
General commission agents, commodity brokers and auctioneers |
9005 |
|
Wholesale of agricultural raw material |
9006 |
|
Wholesale of food and beverages and tobacco |
9007 |
|
Wholesale of household goods |
9008 |
|
Wholesale of metals and metal ores |
9009 |
|
Wholesale of household goods |
9010 |
|
Wholesale of construction material |
9011 |
|
Wholesale of hardware and sanitary fittings |
9012 |
|
Wholesale of cotton and jute |
9013 |
|
Wholesale of raw wool and raw silk |
9014 |
|
Wholesale of other textile fibres |
9015 |
|
Wholesale of industrial chemicals |
9016 |
|
Wholesale of fertilizers and pesticides |
9017 |
|
Wholesale of electronic parts and equipment |
9018 |
|
Wholesale of other machinery, equipment and supplies |
9019 |
|
Wholesale of waste, scrap and materials for re‐ cycling |
9020 |
|
Retail sale of food, beverages and tobacco in specialized stores |
9021 |
|
Retail sale of other goods in specialized stores |
9022 |
|
Retail sale in non‐specialized stores |
9023 |
|
Retail sale of textiles, apparel, footwear, leather goods |
9024 |
|
Retail sale of other household appliances |
9025 |
|
Retail sale of hardware, paint and glass |
9026 |
|
Wholesale of other products n.e.c |
9027 |
|
Retail sale of other products n.e.c |
9028 |
|
Hotels, restaurants and hospitality services
|
Hotels – Star rated |
10001 |
Hotels – Non‐star rated |
10002 |
|
Motels, Inns and Dharmshalas |
10003 |
|
Guest houses and circuit houses |
10004 |
|
Dormitories and hostels at educational institutions |
10005 |
|
Short stay accommodations n.e.c. |
10006 |
|
Restaurants – with bars |
10007 |
|
Restaurants – without bars |
10008 |
|
Canteens |
10009 |
|
Independent caterers |
10010 |
|
Casinos and other games of chance |
10011 |
|
Other hospitality services n.e.c. |
10012 |
|
Transport and logistics services
|
Travel agencies and tour operators |
11001 |
Packers and movers |
11002 |
|
Passenger land transport |
11003 |
|
Air transport |
11004 |
|
Transport by urban/sub‐urban railways |
11005 |
|
Inland water transport |
11006 |
|
Sea and coastal water transport |
11007 |
|
Freight transport by road |
11008 |
|
Freight transport by railways |
11009 |
|
Forwarding of freight |
11010 |
|
Receiving and acceptance of freight |
11011 |
|
Cargo handling |
11012 |
|
Storage and warehousing |
11013 |
|
Transport via pipelines (transport of gases, liquids, slurry and other commodities) |
11014 |
|
Other Transport and Logistics services n.e.c |
11015 |
|
Post and |
Post and courier activities |
12001 |
Telecommunication services
|
Basic telecom services |
12002 |
Value added telecom services |
12003 |
|
Maintenance of telecom network |
12004 |
|
Activities of the cable operators |
12005 |
|
Other Post and Telecommunication services |
12006 |
|
Financial intermediation services
|
Commercial banks, saving banks and discount houses |
13001 |
Specialised institutions granting credit |
13002 |
|
Financial leasing |
13003 |
|
Hire‐purchase financing |
13004 |
|
Housing finance activities |
13005 |
|
Commercial loan activities |
13006 |
|
Credit cards |
13007 |
|
Mutual funds |
13008 |
|
Chit fund |
13009 |
|
Investment activities |
13010 |
|
Life insurance |
13011 |
|
Pension funding |
13012 |
|
Non‐life insurance |
13013 |
|
Administration of financial markets |
13014 |
|
Stock brokers, sub‐brokers and related activities |
13015 |
|
Financial advisers, mortgage advisers and brokers |
13016 |
|
Foreign exchange services |
13017 |
|
Other financial intermediation services n.e.c. |
13018 |
|
Computer and related services
|
Software development |
14001 |
Other software consultancy |
14002 |
|
Data processing |
14003 |
|
Database activities and distribution of electronic content |
14004 |
|
Other IT enabled services |
14005 |
|
BPO services |
14006 |
|
Cyber café |
14007 |
|
Maintenance and repair of office, accounting and computing machinery |
14008 |
|
Computer training and educational institutes |
14009 |
|
Other computation related services n.e.c. |
14010 |
|
Research and development
|
Natural sciences and engineering |
15001 |
Social sciences and humanities |
15002 |
|
Other Research and Development activities n.e.c. |
15003 |
|
Professions
|
Legal profession |
16001 |
Accounting, book‐keeping and auditing profession |
16002 |
|
Tax consultancy |
16003 |
|
Architectural profession |
16004 |
|
Engineering and technical consultancy |
16005 |
|
Advertising |
16006 |
|
Fashion designing |
16007 |
|
Interior decoration |
16008 |
|
Photography |
16009 |
|
Auctioneers |
16010 |
|
Business brokerage |
16011 |
|
Market research and public opinion polling |
16012 |
|
Business and management consultancy activities |
16013 |
|
Labour recruitment and provision of personnel |
16014 |
|
Investigation and security services |
16015 |
|
Building‐cleaning and industrial cleaning activities |
16016 |
|
Packaging activities |
16017 |
|
Secretarial activities |
16018 |
|
Medical Profession |
16019_1 |
|
Film Artist |
16020 |
|
Other professional services n.e.c. |
16019 |
|
Education services
|
Primary education |
17001 |
Secondary/ senior secondary education |
17002 |
|
Technical and vocational secondary/ senior secondary education |
17003 |
|
Higher education |
17004 |
|
Education by correspondence |
17005 |
|
Coaching centres and tuitions |
17006 |
|
Other education services n.e.c. |
17007 |
|
Health care services
|
General hospitals |
18001 |
Speciality and super speciality hospitals |
18002 |
|
Nursing homes |
18003 |
|
Diagnostic centres |
18004 |
|
Pathological laboratories |
18005 |
|
Independent blood banks |
18006 |
|
Medical transcription |
18007 |
|
Independent ambulance services |
18008 |
|
Medical suppliers, agencies and stores |
18009 |
|
Medical clinics |
18010 |
|
Dental practice |
18011 |
|
Ayurveda practice |
18012 |
|
Unani practice |
18013 |
|
Homeopathy practice |
18014 |
|
Nurses, physiotherapists or other para‐ medical practitioners |
18015 |
|
Veterinary hospitals and practice |
18016 |
|
Medical education |
18017 |
|
Medical research |
18018 |
|
Practice of other alternative medicine |
18019 |
|
Other healthcare services |
18020 |
|
Social and community work
|
Social work activities with accommodation (orphanages and old age homes) |
19001 |
Social work activities without accommodation (Creches) |
19002 |
|
Industry associations, chambers of commerce |
19003 |
|
Professional organisations |
19004 |
|
Trade unions |
19005 |
|
Religious organizations |
19006 |
|
Political organisations |
19007 |
|
Other membership organisations n.e.c. (rotary clubs, book clubs and philatelic clubs) |
19008 |
|
Other Social or community service n.e.c |
19009 |
|
Culture and sport
|
Motion picture production |
20001 |
Film distribution |
20002 |
|
Film laboratories |
20003 |
|
Television channel productions |
20004 |
|
Television channels broadcast |
20005 |
|
Video production and distribution |
20006 |
|
Sound recording studios |
20007 |
|
Radio ‐ recording and distribution |
20008 |
|
Stage production and related activities |
20009 |
|
Individual artists excluding authors |
20010 |
|
Literary activities |
20011 |
|
Other cultural activities n.e.c. |
20012 |
|
Circuses and race tracks |
20013 |
|
Video Parlours |
20014 |
|
News agency activities |
20015 |
|
Library and archives activities |
20016 |
|
Museum activities |
20017 |
|
Preservation of historical sites and buildings |
20018 |
|
Botanical and zoological gardens |
20019 |
|
Operation and maintenance of sports facilities |
20020 |
|
Activities of sports and game schools |
20021 |
|
Organisation and operation of indoor/outdoor sports and promotion and production of sporting events |
20022 |
|
Sports Management |
20023_01 |
|
Other sporting activities n.e.c. |
20023 |
|
Other recreational activities n.e.c. |
20024 |
|
Other services
|
Hair dressing and other beauty treatment |
21001 |
Funeral and related activities |
21002 |
|
Marriage bureaus |
21003 |
|
Pet care services |
21004 |
|
Sauna and steam baths, massage salons etc. |
21005 |
|
Astrological and spiritualists’ activities |
21006 |
|
Private households as employers of domestic staff |
21007 |
|
Event Management |
21008_01 |
|
Other services n.e.c. |
21008 |
|
Extra territorial organisations |
Extra territorial organisations and bodies (IMF, World Bank, European Commission etc.) |
22001 |
*n.e.c. – not elsewhere classified
Major changes in ITR-3 form for AY 2023-24 and AY 2024-25
Several changes have been introduced in ITR-3 starting from FY 2022–23:
A separate schedule, VDA, has been added to report income from virtual digital assets like cryptocurrency. Quarterly capital gains need to be disclosed.
If you previously opted out of the new tax regime, you must now respond to a few additional questions.
Foreign investors such as FIIs and FPIs are now required to disclose their SEBI registration number.
A minor update in the balance sheet section mandates disclosing advances received from related parties as per Section 40A(2)(b).
A new 'Trading Account' section has been added where turnover and profits from intraday trading must be shown.
These updates improve transparency and help align reporting with evolving tax rules and technology trends.
Explore Bajaj Housing Finance Home Loan
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Here are a few reasons why you should apply for a home loan from Bajaj Housing Finance:
- Extended repayment tenures: Benefit from repayment periods of up to 32 years, enabling you to select a plan aligned with your financial circumstances for more manageable repayments.
- Competitive interest rates: Initiate your journey to homeownership with attractive interest rates starting at just 7.49%* p.a., accompanied by EMIs as low as Rs. 687/lakh*, making homeownership more affordable.
- Tailored loan options: Customise your home loan to suit your specific requirements with flexible loan amounts and repayment terms, granting you greater control over the home-buying process.
- Top-up loan facility: Enhance your financial flexibility with a top-up loan, providing additional funds of up to Rs. 1 crore* or higher at competitive interest rates and minimal documentation, simplifying balance transfer management.
Just remember, when managing your finances, it's not just about saving tax, but also about investing smartly in assets like a home. If you are looking to buy a house in the future, consider Bajaj Housing Finance Home Loan to fund your dream home.
Conclusion
Filing ITR-3 requires careful attention to detail and proper documentation, but it ensures compliance with tax regulations for business owners and professionals. The comprehensive nature of this form allows for accurate reporting of multiple income sources and proper tax computation. By following the step-by-step process and gathering all necessary documents beforehand, you can file your return efficiently and avoid penalties. Remember to verify your return within the specified timeframe to complete the process. Staying organised with your financial records not only simplifies tax filing but also positions you well for future financial planning and investment decisions.
