• Notification Date: 22-06-2023
  • Notification No: N/A

ITR 3 Online Form Now Available on the Portal

The income tax (I-T) department has enabled the online form ITR-3 with pre-filled data for the assessment year 2023-24. This comes days after the department allowed individuals to use ITR-1, 2 and 4 online forms. The deadline for filing income tax return (ITR) for financial year 2022-23 is July 31, 2023. 

Eligibility for using ITR 3 

An individual or a HUF can use ITR 3 if he/she has income from business or profession. It is also required to be filed by a person whose income is chargeable to tax under the head "Profits and gains of business or profession" is in the form of interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him/her from a partnership firm. 

Form ITR – 3 cannot be used by any person other than an individual or a HUF. Further, an individual or a HUF not having income from business or profession cannot use ITR – 3. 

Filing ITR online 

Income-tax Department has established an independent portal for e-filing of return of income. The taxpayers can log on to the official website https://www.incometax.gov.in/iec/foportal for e-filing the return of income.  

Documents required for filing ITR 

Taxpayers having salary income need Form-16 issued by their employer. If they have earned interest on fixed deposits or saving bank account and TDS has been deducted on the same, they need TDS certificates i.e., Form 16A issued by deductors. They will need Form 26AS to verify TDS on salary as well as TDS other than salary. Form 26AS could be downloaded from the e-filing portal. 

Taxpayers living in rented premises need rent-paid receipts for calculation of HRA (in case they have not submitted the same to their employer). 

Other ITR forms 

The Income Tax Department has notified seven forms for filing ITR. These include Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, and Form ITR-7. 

As notified by the department earlier, ITR-1, ITR-2 and ITR- 4 online forms and excel utility of ITR-3 form. Excel utilities are tools that taxpayers can use to enter their income and other details required for filing their ITRs.