New Delhi: The Income Tax Department has announced that taxpayers can now file Income Tax Return (ITR) Form 3 online through the official e-filing portal. This form is applicable to individuals and Hindu Undivided Families (HUFs) having income from business, profession, share trading, or unlisted equity investments.
ITR-3 is specifically meant for taxpayers who earn income from business or professional sources, including company directors, partners in firms, and those who have invested in unlisted shares at any time during the financial year. It also covers income from salary, pension, house property, and other sources.
Taxpayers who are not eligible to file ITR-1 (Sahaj), ITR-2, or ITR-4 (Sugam) due to the complexity or nature of their income must use ITR-3. The form accommodates disclosures related to foreign assets, capital gains, and stock trading activities, among others.
The department has clarified that this online filing facility is now live, providing ease and flexibility for eligible taxpayers to complete their returns for the assessment year 2024-25 well before the deadline.
