Good News for Taxpayers: ITR-3 Now Enabled for Online Filing at Income Tax Portal

The Income Tax Department has officially announced that the ITR-3 form is now enabled for filing online at the Income Tax Portal. This removes the need for filing manually or offline.

The ITR-3 form is used by individuals and Hindu Undivided Families (HUFs) involved in business or profession who are required to maintain books of accounts. Meaning, if you run your own business or have your own profession (such as a doctor, lawyer, or consultant), you are required to file your Income Tax Return (ITR) using this form. Earlier, sometimes these types of taxpayers were required to manually (offline) file their ITR and hence face delays as the form was not available online for certain periods. However, now the tax department has enabled this form for filing electronically.

Individuals and Hindu Undivided Families (HUFs) who have income from the following sources use the ITR-3 form to notify their income:

• Income from business or profession
• Income from salary or pension
• Income from house property
• Income from capital gains
• Income from other sources

This action helps taxpayers save their time and efforts, as the online system provides detailed step-by-step guidelines, checks for errors, and allows you to submit it instantly. Online filing systems also speed you up.

This move helps taxpayers save time and effort because the online system guides you through filling out the form step-by-step, checks for errors, and allows you to submit it instantly. It also speeds up the processing of your returns and refunds by the tax department. Additionally, it is safer and more convenient to file ITR online, especially in today’s digital world, where physical visits to tax offices can be avoided.

If you fall under the aforementioned categories, then you can log in at the Income Tax Portal, file your ITR-3 carefully, and submit it before the deadline to adhere to the tax rules and avoid chances of penalties.