CA Final Download the best Free CA FINAL android app for cracking your exam! Download Now

How do I fill out the ITR-3 Form?

How do I fill out the ITR-3 Form?

Instructions for filling out ITR-3

  • If any schedule is not applicable score across as “—NA—“.
  • If any item is inapplicable, write “NA” against that item.
  • Write “Nil” to denote nil figures.
  • Except as provided in the form, for a negative figure/ figure of loss, write “-” before such figure.
  • All figures should be rounded off to the nearest one rupee. However, the figures for total income/ loss and tax payable be finally rounded off to the nearest multiple of ten rupees.

Sequence for filling out parts and schedules

The Income Tax Department advises assesses to follow the sequence mentioned below while filling out the income tax return.

  • Part A- General on page 1
  • Schedules
  • Part B-TI and Part B-TTI
  • Verification

How do I file my ITR-3 Form?

This return form can be filed with the Income Tax Department in the following ways:

Offline:

  • by furnishing the return in a paper form
  • by furnishing a bar-coded return

Online:

  • by furnishing the return electronically under digital signature
  • by transmitting the data in the return electronically and thereafter submitting the verification of the return in Return Form ITR-V

When the return is filed online, the assessee should print out two copies of ITR-V Form. One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to Post Bag No. 1, Electronic City Office, Bengaluru–560100 (Karnataka).

The other copy may be retained by the assessee for his record.

Note that when the return filed on paper, the acknowledgement slip attached with the return form should be duly filled.

How do I fill out the ITR-3 Form?

When are you required to file electronically?

  • A resident assessee having any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India, shall fill out schedule FA and furnish the return electronically.
  • From AY 2013-14 onwards, assessees having total income of more than 5 lakh rupees are required to furnish the return electronically.
  • Assesses claiming relief under section 90, 90A or 91 to whom Schedule FSI and Schedule TR apply.

No annexures required

No documents (including TDS certificate) are needed to be attached with this return form.

How to fill out the verification document?

In case the return is to be furnished in a paper format or electronically under digital signature or in a bar coded return format, please fill up the required information in the Verification form. Please ensure that the verification has been signed before furnishing the return. Write the designation of the person signing the return.

If the return is filed electronically, please fill out ITR-V.

Please note that any person making a false statement in the return or the accompanying schedules shall be liable to be prosecuted under section 277 of the Income-tax Act, 1961 and on conviction be punishable under that section with rigorous imprisonment and with fine.

How do I fill out the ITR-3 Form?

cakart

cakart

Leave a comment

Your email address will not be published. Required fields are marked *