ITR-3 Filing for Business Income

About This Service

ITR-3 is the return form for individuals and HUFs who have income from a proprietary business or profession. This includes freelancers, consultants, doctors, lawyers, and small business owners. Our CAs help you maintain proper books of accounts, compute business income accurately, claim all eligible business expenses, and ensure compliance with tax audit requirements under Section 44AB if applicable.

What’s Included

Business Income Computation

Accurate profit and loss computation with all eligible business deductions.

Expense Optimization

Maximize business expense claims including depreciation, travel, office rent, and more.

Tax Audit Assistance

Help with Section 44AB audit if turnover exceeds ₹1 crore (₹10 crore for digital).

Balance Sheet Preparation

Preparation of balance sheet and P&L statement as required for ITR-3.

Advance Tax Planning

Guidance on advance tax payments to avoid interest under sections 234B and 234C.

GST Integration

Reconciliation of business income with GST returns for consistency.

How It Works

1

Share Business Details

Provide business income, expense details, bank statements, and invoices.

2

Books & Computation

Our CA prepares books of accounts and computes taxable business income.

3

Review & Optimize

Review the return with detailed P&L and balance sheet.

4

File & Comply

We file your ITR-3 with all schedules and assist with e-verification.

Frequently Asked Questions

Q: Who should file ITR-3?
Individuals or HUFs earning income from business or profession (not eligible for presumptive taxation under ITR-4) must file ITR-3.
Q: Do I need a tax audit?
Tax audit is required if business turnover exceeds ₹1 crore (₹10 crore if 95%+ transactions are digital) or professional receipts exceed ₹50 lakhs.
Q: What expenses can I claim?
Business expenses like rent, salaries, utilities, travel, depreciation, professional fees, and internet costs are deductible against business income.
Q: What is the penalty for late filing?
Late filing penalty is ₹5,000 if filed before December 31, or ₹10,000 after. No penalty if total income is below ₹5 lakhs.

Why Choose TaxHealer?

50% Cheaper

Save up to 50% compared to ClearTax and TaxBuddy.

CA Verified

Every return reviewed by qualified Chartered Accountants.

48hr Filing

Most returns filed within 48 hours.

WhatsApp Support

Chat directly with your assigned CA anytime.

Ready to Get Started?

Expert CAs ready to help. Starting at just ₹1499.

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