A comprehensive guide to understanding the ITR-3 Form
a. Carrying on a business or profession (both tax audit and non-audit cases)
b. The return may include income from House property, Salary/Pension, capital gains and Income from other sourcesNOTE: (1) The due date for filing ITR-3 in case of a taxpayer subject to tax audit has been extended to 30 November from 31 October for the AY 2020-21 (FY 2019-20). The due date for filing tax audit report is extended to 31 October from 30 September. (2) The threshold limit of Rs 1 crore for a tax audit is proposed to be increased to Rs 5 crore with effect from AY 2020-21 (FY 2019-20) if the taxpayer’s cash receipts are limited to 5% of the gross receipts or turnover, and if the taxpayer’s cash payments are limited to 5% of the aggregate payments.