If you are self-employed, a freelancer, a consultant, or a partner in a corporation, ITR-3 is definitely the right form for you to file your taxes. ITR-1 and ITR-2 are for those who work for someone else, whereas ITR-3 filing is for people who run their own business or work for themselves. This is especially true if they make money from things like capital gains, partnership revenues, or other sources.
Let's go over everything you need to know about utilizing ITR-3 to filing income tax returns (ITR). This covers who can use presumptive taxation under section 44ADA, the benefits of this type of taxation, how to save money on taxes, and how a trustworthy ITR filing company like auditfiling can help you.
The Income Tax Department mandates the use of the ITR-3 form for individuals and Hindu Undivided Families (HUFs) who:
People who work in law, medicine, architecture, accountancy, digital freelancing, consulting, or any other field where they make money on a project basis will love it.
Even if the business itself files ITR-5, you still have to disclose your share of profit, interest, or pay through ITR-3 if you are a partner in a firm .
If you've sold stocks, mutual funds, or real estate, you also need to fill out Schedule CG of ITR-3 to show your capital gains in detail. The Income Tax Department may check into it or punish you if you don't do it appropriately
Under the new tax regime, taxpayers can opt for lower slab rates but must forgo most exemptions and deductions (like 80C, 80D, HRA, etc.). You should compare both regimes before filing.
If you're looking for income tax saving options, the old regime still allows investments in ELSS, PPF, NPS, and health insurance to reduce your taxable income.
VAT and Business Reporting – A Complete Guide for 2025 Although Value Added Tax (VAT) has been replaced by GST in India, if your old business financials or past income tax records include VAT liabilities, you must disclose them appropriately in ITR-3 if relevant.
While you can file your return on your own via the official income tax e filing website, the complexity of
ITR-3—especially with capital gains, 44ADA, or foreign income—often demands expert guidance.
Typical ITR filing fees through a professional firm range from ₹999 to ₹2500 based on complexity.
Choosing an experienced ITR filing company like auditfiling ensures:
The ITR filing deadline in India set for 31st July 2025, it’s crucial to file early, especially if your income structure includes freelancing, capital gains, or partnership earnings.
Let Audit filing handle your tax filing professionally and efficiently—whether you’re a freelancer, partner, or professional.Call +91 742 8600 607 today to file your ITR-3 accurately with auditfiling, and avoid last-minute stress, penalties, or rejection.
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ITR-3 Filing online with AuditFiling. Expert support for professionals, freelancers & business income. Call +91 742 8600 607 for quick and hassle-free ITR filing.