ITR 3 Form Filing

ITR 3 Form is applicable for the individuals and Hindu Undivided Families that earn profit and gains from business or profession.

If the individual or the Hindu Undivided Family is having an income as a partner of a partnership firm that is carrying out business then ITR-3 cannot be filed as in such cases the individual is required to file ITR-2.

Eligibility for filing ITR 3 Form

Who can file ITR 3?

ITR 3 is to be filed by the individuals and the HUFs who earn income from carrying a profession or from a proprietary business. ITR 3 Form can be used when the income of the assessee falls in the categories that are mentioned below:

• Income from carrying a profession
• Income from proprietary business
• House property, salary or pension, and income from other sources

Who is not eligible to file ITR 3 Form?

In case if the individual or the Hindu Undivided Family is functioning as a partner of the partnership firm that is carrying out business or profession then he cannot file form ITR 3 as he will be eligible to file Form ITR 2.