ITR-3 must be filed by individuals and HUFs who have income from carrying on a profession or from Proprietary business.
If an Individual/HUF is having income as a partner of a partnership firm that is carrying out business/profession, he cannot file ITR-3. In such case, he is required to file ITR 2.
ITR-3 form is to be used when the assessee has income that falls into the below category :
ITR-3 form can be filed under three methods:
All taxpayer filing ITR-3 form who are required to obtain a tax audit must file ITR-3 form using digital signature. Assessee filing ITR-2 form under the third method must complete the acknowledgement in ITR-V. After preparing ITR-V, the assessee should print out two copies of Form ITR-V. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to
Post Bag No. 1,The other copy may be retained by the assessee for his record.
