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In this article, I have tried to explain the eligibility, manner of filing and about obligation to file ITR-3 for AY 2020-21/FY 2019-20 which is generally applicable to For individuals and HUFs having income from profits and gains of business or profession.

ITR-3 with other ITRs alongwith manner of furnishing Return of Income for Assessment Year (AY) 2020-21 / Financial year (FY) 2019-20 is been notified by CBDT vide Notification No. 31/2020 dated 29.05.2020.

1. Who is eligible to use Form ITR-3 for A.Y. 2020-21?

This form is for Individuals and Hindu Undivided Family (HUF) having income from profits and gains of business or profession.

 2. Who is not eligible to use Form ITR-3 for A.Y. 2020-21?

This ITR Form should not be used by an Individual or HUF who is eligible to file ITR-1, ITR-2 or ITR-4.

3. Annexure-less ITR Form

No document (including TDS certificate) should be attached to this ITR Form.

4. Manner of filing Form ITR-3 for A.Y. 2020-21

This ITR Form can be filed with the Income-tax Department electronically on the e-filing web portal of Income-tax Department ( and verified in any one of the following manner –

(i) digitally signing the verification part, or

(ii) authenticating by way of electronic verification code (EVC), or

(iii) by sending duly signed paper Form ITR-V (Acknowledgment) by post to CPC at the following address –

Post Bag No. 1, Electronic City Office, Bengaluru- 560500, Karnataka”.

The Form ITR-V should reach within 120 days from the date of e-filing the return of income.

However, in a case where accounts are required to be audited under Section 44AB of the Income Tax Act, it is mandatory to verify the return of income electronically using a digital signature.

In case an assessee is required to furnish a report of audit under Sections 10AA, 44AB, 44DA, 50B, 80-IA, 80-IB, 80-IC, 80-ID, 80JJAA, 80LA, 92E, 115JB or 115JC of the Income Tax Act, the assessee shall file such report electronically at least one month before the due date of filing the return of income.

5. Obligation to file return of income for A.Y. 2020-21

Every Individual or HUF whose total income before allowing deductions under Chapter VI-A of the Income-tax Act, exceeds the maximum amount which is not chargeable to tax is obligated to furnish his return of income. The claim of deduction(s) under Chapter VI-A is to be mentioned in Part C of this ITR Form. In case of any doubt, please refer to relevant provisions of the Income-tax Act. The maximum amount which is not chargeable to income tax for Assessment Year 2020- 21, in case of different categories of individuals and HUF, is as under:-

Sl. No. Category Amount (in ₹)
(i) In case of an individual who is below the age of 60 years or a Hindu Undivided Family (HUF) 2,50,000
(ii) In case of an individual, being resident in India, who is of the age of 60 years or more at any time during the previous year 2019-20 but below the age of 80 years 3,00,000
(iii) in case of an individual, being resident in India, who is of the age of 80 years or more at any time during the previous year 2019-20 5,00,000

Also Read:-

S. No. Particulars
1 A.Y. 2020-21 ITR Forms: Eligibility Criteria & Changes
2 All about filing of ITR-1 (Sahaj) for AY 2020-21
3 All about filing of ITR-2 for AY 2020-21
4 All about filing of ITR-3 for A.Y. 2020-21
5 All about filing of ITR-4 (Sugam) for A.Y. 2020-21
6 All about filing of ITR-5 for A.Y. 2020-21
7 All about filing of ITR-6 for A.Y. 2020-21
8 All about filing of ITR-7 for A.Y. 2020-21

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  1. Arun Menon says:

    Dear Sir,

    I notice that the ITR3 for Long Term Capital Gains under Section 112A does not have the provision for deducting INR One Lakh before calculating the Income Tax. While checking with dummy data, I found both ITR2 and ITR3, whether the excel software or the Java provided by IT Department calculates Income Tax on LTCG amounts which are less than Rupees One Lakh. Even for LTCG of Rs 10,000 the software is calculating tax of Rs 7280. Am surprised no one has pointed it out yet. Or am i doing any mistake.

    — Arun

  2. jitender bhandari says:

    commission income from agent after deducting TDS is less than 8 itr-3 books of a/c not maintained. can its shown u/s 44ada.whereas self P&L is prepared profit shown more than 55%

  3. Vishwanath Chotia says:

    Sir,I am a pensioner and started trading in share market, my income is from pension ,share trading and interest.Please guide me which ITR form should I use to file ITR

  4. GN says:

    Past 2 years from August 2018 i am unemployed with zero income source. I’m a regular ITR-I filer since more than 15 years. Kindly guide which ITR form need i file this FY with minimum wage. My CA guides to use ITR IV, but am not sure under which section to use. I want to show as consultation income for the FY 2019-2020

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