-
May 31, 2023
-
ITR filing process: How to fill ITR-3 form for business income tax return filing; check in-depth details
ITR Filing Process Online: Filing the income tax return is among the most important chores for a business in a year. Typically, income from a profession or a business under a proprietorship set up, wherein the taxpayer is a proprietor (both audit and non-audit cases) have to file the ITR-3 form. In contrast, partnership firms or individuals with a total income of up to Rs 50 lakh in a year and who have opted under the presumptive taxation scheme have to file the ITR-4 form.
Since MSMEs, as per the government’s definition, are businesses with annual turnover ranging from up to Rs 5 crore to Rs 250 crore, below is the structure of the ITR-3 form to be filled online from the income tax portal using your digital signature.
|