India’s #1 platform for business & trading income tax filing.


ITR Filing for Business & Professional Income

Auto-fill trading income
Auto carry forward of past losses
Simplified presumptive taxation

Why choose ClearTax

Streamline ITR for All Business Incomes
Simplest ITR process for businesses, Professionals, traders and Freelancers
Auto-Fill Income, Business & TDS
Auto-retrieve income, business, and TDS details with one click using Form 26AS.
Hassle-Free F&O Turnover & Balance Sheets
Auto-calculate F&O turnover and fill balance sheets with ease in minutes
Automatic Carry Forward of Loss
Auto-fill previous year’s losses to reduce your current tax burden effortlessly.

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Filed returns in 6 minutes!

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Capital gains from mutual funds and stocks

The software auto-populated all my capital gains data from the P&L statements and also selected the correct ITR type. ClearTax, thank you for saving so much time and effort. Keep up the great work, team.

Guides and useful links to help you Efile taxes

Presumptive Taxation

Businesses and Professionals can opt for presumptive taxation where income is computed as a percentage of the turnover.

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Presumptive Taxation for Businesses

Businesses opting for presumptive taxation have the option to declare income at 8% of their turnover. Know the applicable threshold limit.

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Presumptive Taxation for Professionals

Professionals can opt for the presumptive taxation scheme and declare profits at 50% of their turnover.

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Which ITR to file?

Know which ITR is applicable for taxpayers opting for Presumptive Taxation. Filing the right ITR form is crucial to avoid notices from the tax department.

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What Is ITR-3?

Taxpayers with business and professional income exceeding Rs. 50 lakh need to file Form ITR-3. Both audit and non-audit taxpayers can file ITR-3.

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What Is ITR-4?

Taxpayers with business or professional income and opting for presumptive taxation need to file ITR-4 if their total income does not exceed Rs. 50 lakh.

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Income Tax Audit

Taxpayers whose turnover exceeds the threshold limit are required to conduct tax audit before filing their ITR. Taxpayers required to go through audit cannot opt for presumptive taxation.

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Income Tax Slabs

Taxpayers with business and professional income need to pay tax at their applicable income tax slab rate. It is important to under the tax slabs and opt for the best tax regime.

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Frequently Asked Questions

As a professional (Doctor, Lawyer, Tutor, Influencer), can I claim expenses against my income?

Yes, professionals can claim business expenses such as office rent, utilities, salary of staff, marketing costs, and other expenses directly related to their profession under Section 37(1). However, personal expenses are not deductible

How do I report profits from F&O or Intraday trading in my ITR?

Profits from F&O and Intraday trading are treated as business income and must be reported under "Income from Business or Profession" in ITR-3. You need to maintain a profit and loss statement and disclose turnover, which is calculated based on the total of positive and negative trades in a financial year.

Can I claim losses from F&O trading or Intraday trading to offset my other income?

Yes, losses from F&O and Intraday trading can be carried forward for up to 8 years, and you can set off the losses against future business profits or other capital gains, subject to filing your return on time. Make sure to report them accurately in your ITR.

As a freelancer, can I claim deductions for my work-related expenses?

Yes, as a freelancer, you can claim deductions for expenses related to your work, such as office supplies, software subscriptions, travel, marketing, and home office expenses, under Section 37(1). Ensure proper documentation for claiming these deductions.

How do I report income from a partnership firm, and what tax implications should I be aware of?

As a partner in a firm, your share of profits is considered business income and should be reported in your ITR under "Income from Business or Profession." If the firm pays tax under the Partnership Tax Regime (Section 44AD or 44ADA), you need to report your share of profits and the tax paid by the firm. If the firm has losses, you can only claim the share of profits from the firm and not the losses.

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Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

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