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ITR-3 can be filed by any of the person having following income:
Personal information: | It contains information like First name,Middle name,Last name,PAN,Address,Date of birth,Aadhar number,Mobile number, Email id etc. |
Filing Status: | Mention :
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Audit Information: |
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Enter the name of business,business code and description of business and other relevant information in PART A as under
Balance Sheet | In this part, please fill in the details of the balance sheet items as on 31st march,2019 in the given format. In case the regular books of accounts are not maintained,then fill up the summary details sought at part 6. And leave out other parts. |
Manufacturing Account | In this part details of the manufacturing account for the financial year 2018-2019 need to be filled. In case you are not required to maintain the books of accounts then fill up the item no.61 or 62 or 63 or 64 of part A - P&L, whichever is applicable. |
Trading Account: | In this particular part, you need to fill up the details of the Trading account for financial year 2018-19, in case the books of accounts are not required to maintain, then fill up the details in items 61,62,63 or 64 of part -A of P&L. |
P&L Account: | In this part fill in the details of the profit and loss account for FY 2018-19, in case books of accounts are not required to be maintained, then fill up the items 61,62,63,and 64 of part-A of P&L. ITEM NO. 61: If section 44AD applicable ITEM no. 62: If section 44ADA applicable ITEM NO.63: if section 44AE applicable. ITEM No. 64: If you are not required to maintain books of accounts in respect of business or profession. ITEM No.65:In case you are engaged in a speculative activity. |
Other information: | In case books of accounts were required to be audited under section 44 AB , then it is mandatory to fill up the information sought at various items. |
Quantitative details: | The quantitative details of trading and manufacturing accounts are required to be furnished in respect of principal items. |
The following information is required:
The following information is required:
It provided for computation of depreciation admissible under income tax act for the year in respect of plant and machinery. This does not include plants and machinery on which full capital expenditure is allowable.
Schedule - DOAIt provides for computation of depreciation admissible under income tax act for the year in respect of other category of assets- land,building,furniture and fittings, intangible assets and ships
Schedule - DEPIt curbs the summary of depreciation admissible under the income tax act in respect of all categories of assets. This does not cover the category of assets in respect of which capital expenditure is allowable.
Schedule - DCGThe schedule contains a summary of short term capital gains on sale of depreciable assets during the year as per Income tax act under various category of assets.
Schedule ESRThis schedule captures the details of expenditure u/s 35, 35CCC, 35CCD
Schedule CG: Capital GainsCapital gains arising from different types of capital assets have been segregated.
Part - A : | Provides for computation of short term capital gains from different types of capital assets. |
Part - B : | Provides for computation of long term capital gains from different types of capital assets. |
Part - C : | Computes the total of short term and long term capital gains. Deductions can be claimed in respect of capital gains subject to fulfillment of prescribed conditions. |
Part - D: | In case any deduction is claimed against any type of capital asset, the details have to be furnished in the Schedule- D. |
Part - E: | Provides for intra head set off of current year capital losses with capital gains. The schedule separates different categories of capital gains ( long term and short terms) into different baskets according to the rate at which they are chargeable to tax. |
Part - F: | Necessitates reporting of quarter wise details of accrual or receipt of incomes under the head capital gains. |
The gross amount of income from the other sources need to be entered which are chargeable to tax at normal applicable rates.
If the net result of computation under the head ‘income from house property’, ‘profits and gains from business and profession’ and ‘income from other sources’ is a loss figure, fill up the figure of loss details. The positive income computed under various heads of income for the current year should be mentioned in column (1) in the relevant row of the respective head.
Schedule - BFLA - Income after set off of Brought forward losses of earlier yearsThe positive income remaining after set off of current year losses as per schedule CYLA should be mentioned in column(1). In column(2) amount of brought forward losses from earlier years which can be set off against various heads of income In column(5) mention the net positive income of the current year remaining after set off of brought forward losses under various heads of income in the relevant rows.
Schedule-CFL-Losses to be carried forward to future yearsEnter the assessment year wise details of losses brought forward from earlier years in the first eight rows under various heads of income at respective columns.
Schedule - UD - Unabsorbed depreciation and allowance u/s 35(4)In this schedule, amount of brought forward unabsorbed depreciation and allowance u/s 35(4) for each assessment year, amount of depreciation and allowance u/s 35(4) set off against the current year’s income and the balance unabsorbed depreciation and allowance u/s 35(4) to be carried forward to next assessment year.
Schedule - ICDS- Effects of income computation Disclosure standards on profitDeviation from each of the ICDS that has an effect on profit is to be filled in column (iii) of the said schedule.
Schedule - 10AA- Deduction in respect of units located in Special Economic ZoneOne needs to enter the details of each undertaking separately under this section, if there are more than one undertaking entitled.
Schedule 80 G- Details of donation entitled for deduction u/s 80 GFurnish the following details of donations paid to charitable institutions -
Furnish the following details of donation given to research association
If under this section, there are more than one undertaking entitled for deduction. Please enter the details of the deduction in the relevant schedule for each undertaking separately.
Schedule VI A - Deductions under chapter VI-AProvide the details of deductions claimed under various provisions of chapter VI-A during the year.
Furnish the details of alternate minimum tax payable u/s 115JC. The computation of adjusted total income and alternate minimum tax payable under this schedule should be based on an audit report in Form 29C.
Schedule AMTC: Computation of Tax Credit u/s 115JDCredit of AMT payable in A.Y. 2013-14 and subsequent assessment years, in excess of normal tax liability is permitted to be set off against the normal tax liability of the current assessment year.
Schedule SPI: Income of specified persons, includable in income of the assessee as per sec 64In this schedule, furnish the details of income of specified persons which is required to be clubbed with your income as per provisions of income tax act.
Schedule SI: Details of Income chargeable to tax at special ratesReport the income which is chargeable to tax at special rates of tax and the tax chargeable to tax at special rates.
Schedule IF: Information regarding partnership firm in which you are partnerThe schedule has to be filled for each firm in which you are partner
Schedule - EI - Details of exempt incomeIn this Schedule, the details of those incomes need to be furnished which are claimed as exempt from tax such as interest, dividend, agricultural income, or any other exempt income, income not chargeable to tax as per DTAA and pass through income which is not chargeable to tax.
Schedule PTI - Details of Pass through income from business trust or investment fundReport the income of pass through income received from business trust or investment fund as referred to in sec 115UA or sec- 115UB
Schedule FSI- Income from outside India and tax reliefReport the details of income which is accruing or arising from any source outside India in this schedule
Schedule TR- Summary information of tax relief claimed for taxes paid outside IndiaProvide the summary of tax claim received which is being claimed in India for the taxes outside India in respect of each country. This schedule captures a summary of detailed information furnished in schedule FSI.
Schedule FA- Information of Foreign Assets and income from any source outside IndiaIf you are a resident in India then you are required to furnish details of foreign assets etc. in this schedule. This schedule need not be filled if you are a ‘not ordinarily resident’ or a ‘non resident’.
Schedule - 5A- Details of income between spouses governed by Portuguese Civil CodeIf you are governed by the system of community of property under the Portuguese Civil Code 1860,furnish the information necessary for apportionment of income between husband and wife. In this schedule.
Schedule AL- Information about the Assets and liabilities towards the end of the yearIf the income exceeds Rs 50 lacs, it is mandatory to disclose the details of movable and immovable assets etc. in this schedule along with the liabilities incurred in relation to such assets.
Schedule GST- Covers the details regarding turnover/ gross receipt reported for GSTDetails of all GSTIN No. registered needs to be provided and respective amounts of annual value of outward supplies should be reported against each GSTIN no.
PART B -TI- Computation of Total IncomeIf the return has been prepared by the tax return preparer, the relevant details have to be filled by him and the return has to be countersigned by him in the space provided in the said item.
Item No. 17 :- Tax payments:PART-A: Details of payment of Advance tax and Self - assessment Tax Enter the relevant details of payment of advance tax or self- assessment tax .
PART-B : Details of tax deducted at source from salaryEnter the relevant details of taxes deducted at source form salary as appearing in Form 16 issued by the employer.
PART -C :Details of tax deducted at source (TDS) on IncomeEnter relevant details of tax deducted at source on income other than salary as appearing in Form 16A, 16B, or 16C issued by the tax deductor.
PART- D: Details of Tax collected at source(TCS)The relevant details of taxes collected at source need to be entered during the year as appearing in form 27D issued by the collector.
Verification:Enter the name, father's name,and PAN of the person who is filing the return. The verification of the return of Income can be verified by the individual himself or by persons authorised on his behalf. In case of HUF, return of income can be verified by the Karta of HUF.
Individuals and HUF having income form Business and Profession other than those covered under presumptive taxation are required to file ITR-3.
Although broadly both these form refer to Individuals and HUF having income from business from business and profession but the difference lies in the following areas
ITR-3 | ITR-4 |
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For other than presumptive taxation | Those opting for presumptive taxation need to file ITR 4 |
Total income reported can exceed Rs 50 lakhs | Total income shall not exceed Rs 50 lakhs |
Can be filed by a director of a company | Cannot be filed by a director |
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