These instructions are guidelines for filling the particulars in Income-tax Return Form-3 for the Assessment Year 2020-21 relating to the Financial Year 2019-20. In case of any doubt, please refer to relevant provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962.

1. Assessment Year for which this Return Form is applicable

This Return Form is applicable for assessment year2020-21only, i.e., it relates to income earned in Financial Year 2019-20.

2. Who is eligible to use this Return Form?

This Return Form is to be used by an individual or a Hindu Undivided Family who is having income under the head “profits or gains of business or profession” and who is not eligible to file Form ITR-1 (Sahaj), ITR-2 or ITR-4 (Sugam).

3. Manner of filing this Return Form

This Return Form can be filed with the Income-tax Department electronically on the e-filingweb portal of Income-tax Department (www.incometaxindiaefiling.gov.in) 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) Aadhaar OTP, or

(iv) by sending duly signed paper Form ITR-V – Income Tax Return Verification

Form by post to CPC at the following address –

“Centralized Processing Centre,
Income Tax Department,
Bengaluru— 560500,
Karnataka”.

The Form ITR-V-Income Tax Return Verification Form should reach within 120

days from the date of e-filing the return.

The confirmation of the receipt of ITR-V at Centralized Processing Centre will be sent to the assessee on e-mail ID registered in the e-filing account.

However, in a case where accounts are required to be audited u/s 44AB, it is mandatory to verify the return electronically under 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,1 15JB or 11 5JC, he shall file such report electronically on or before the date of filingthereturn of income.

4. Filling out the ITR V-Income Tax Return Verification Form

Where the Return Form is furnished in the manner mentioned at 3(iv), the assessee should print out Form ITR-V-Income Tax Return Verification Form. ITR-V-Income Tax Return Verification Form, duly signed by the assessee, has to be sent by ordinary post or speed post only to Centralized Processing Centre, Income Tax Department, Bengaluru–560500 (Karnataka).

5. Obligation to file return

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 income 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 Return Form. The maximum amount which is not chargeable to income-tax for Assessment Year 2020­-21, in case of different categories, is as under:

S. 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 financial 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 financial year 2019-20. 5,00,000

If a person whose total income before allowing deductions under Chapter VI-A of the Income-tax Act or deduction for capital gains (section 54 to 54GB), does not exceeds the maximum amount which is not chargeable to income-tax but fulfils one or more conditions mentioned below is obligated to furnish his return of income. In case of any doubt, please refer to relevant provisions of the Income-tax Act.

a) Deposit of amount or aggregates of amount exceeding Rs 1 crore in one or more current accounts;

b) Incurred expenditure of an amount or aggregate of amount exceeding Rs. 2 lakhs for travel to a foreign country for yourself or any other person;

c) Incurred expenditure of amount or aggregate of amount exceeding Rs. 1 lakh on consumption of electricity.

Item by Item Instructions to fill up the Return Form

Part-A – General Information

Field Name Instruction
PERSONAL INFORMATION
First Name Enter the First Name as per PAN card
Middle Name Enter the Middle Name as per PAN card
Last Name Enter the Last Name as per PAN card
PAN Enter the PAN as in PAN card
Flat/ Door/ Block No. Enter the Flat or House Number
Name of Premises/
Building/Village
Enter the name of the Premises or Building or Apartment or Village
Status Please tick the applicable check box, indicating the status under which the return is being filed-

(a) Individual

(b) Hindu Undivided Family (HUF)

Road/ Street/Post Office Enter the name of the Post office or Road or Street in which the house is situated
Date of Birth Enter the Date of Birth as per the PAN card
Area/ Locality Enter the name of area or locality in which the house is situated
Aadhaar Number (12 digits)/Aadhaar Enrolment Id (28 digits) Enter the Aadhaar Number (12 digits) as mentioned in Aadhaar Card. In case Aadhaar number has been applied for but not yet allotted, please enter the Aadhaar Enrolment number (28 digits).
Town/ City/ District Enter the name of town or City or District in which the house is situated
State Select the name of State from the dropdown
Country Select the name of country from the dropdown
PIN Code/ Zip Code Enter the PIN Code/ Zip Code of the Post Office
Residential/ Office Phone Number with STD code Mobile No.1 Enter the residential or office landline number with STD code, or enter PAN holder’s mobile number. This will be used for official communication with the PAN holder.
Mobile No.2 Enter the mobile number of of any other person, as an alternative number for communication.
Email Address (Self) Enter the PAN holder’s email address. This will be used for official communication with the PAN holder.
Email Address-2 Enter the Email Address of PAN holder or any other person, as an alternative email address for communication.
FILING STATUS
Filed u/s Please tick the applicable check box, indicating the section under which the return is being filed –

(a) If filed voluntarily on or before the due date, tick ‘139(1)’

(b) If filed voluntarily after the due date, tick ‘139(4)’

(c) If this is a revised return, tick ‘139(5)’

(d) If this is a modified return, filed in accordance with an Advanced Pricing Agreement (APA), tick ‘92CD’

(e) If filed in pursuance to an order u/s 119(2)(b) condoning the delay, tick ‘1 19(2)(b)’

Are you filing return of income under seventh proviso to Section 139(1) but otherwise not required to furnish return of income? (Tick) o Yes o No

If yes, please furnish following information

[Note: To be filled only if a person is not required to furnish a return of income under section 139(1) but filing return of income due to fulfilling one or more conditions mentioned in the seventh proviso to section 139(1)]

In case the return is being filed if any one or all of the below conditions are applicable although the total income before allowing deductions under Chapter VI-A of the Income-tax Act or deduction for capital gains (section 54 to 54GB) or exempt long term capital gains (section 10(38)), does not exceeds the maximum amount which is not chargeable to income-tax, tick ‘Yes’:

Deposit of amount or aggregates of amount exceeding Rs 1 crore in one or more current accounts;

Incurred expenditure of an amount or aggregate of amount exceeding Rs. 2 lakhs for travel to a foreign country for yourself or any other person;

Incurred expenditure of amount or aggregate of amount exceeding Rs. 1 lakh on consumption of electricity.

Select ‘No’ if total income before allowing deductions under Chapter VI-A of the Income-tax Act or deduction for capital gains (section 54 to 54GB) or exempt long term capital gains (section 10(38)), exceeds the maximum amount which is not chargeable to income-tax.

Have you deposited amount or aggregate of amounts exceeding Rs. 1 Crore in one or more current account during the previous year? (Yes/No) Please tick ‘Yes’ in case an amount / aggregate amount exceeding Rs.1 Crores is deposited in one or more current account during the period 1 April 2019 to 31 March 2020, else tick ‘No’.

Please enter amount/aggregate amount deposited if ‘Yes’ is ticked.

Have you incurred expenditure of an amount or aggregate of amount exceeding Rs. 2 lakhs for travel to a foreign country for yourself or for any other person? (Yes/ No) Please tick ‘Yes’ if expenditure incurred of an amount/ aggregate amount exceeding 2 lakhs for travel to a foreign country for self or for any other person, else tick ‘No’.

Please enter amount/ aggregate amount of expenditure if ‘Yes’ is ticked.

Have you incurred expenditure of amount or aggregate of amount exceeding Rs. 1 lakh on consumption of electricity during the previous year? (Yes/No) Please tick ‘Yes’ if expenditure incurred of an amount/ aggregate amount exceeding Rs.1 lakh on consumption of electricity during the period 1 April 2019 to 31 March 2020, else tick ‘No’.

Please enter amount/ aggregate amount of expenditure if ‘Yes’ is ticked

If revised/defective/ modified then enter Receipt No. and Date of filing original return If this is a revised return, or a return being filed in response to notice under section 139(9), or a modified return filed in accordance with an APA, please enter the acknowledgement number and date of filing of the original return.
Or Filed in response to notice u/s In case the return is being filed in response to a statutory notice, please tick the applicable checkbox –

(a) If filed in response to a notice u/s 139(9), tick ‘139(9)’

(b) If filed in response to notice u/s 142(1), tick ‘142(1)’

(c) If filed in response to notice u/s 148, tick ‘148’

(d) If filed in response to notice u/s 153A, tick ‘153A’

(e) If filed in response to notice u/s 1 53C, tick ‘153C’.

If filed in response to notice or order, please enter Unique Number/Document Identification Nu mber& Date of such Notice or Order or if filed u/s 92CD enter date of advance pricing agreement In case the return is being filed in response to a statutory notice, or in pursuance to an order under section 119(2)(b) condoning the delay, or in accordance with an APA u/s 92CD, please enter the unique number/document identification number and date of the relevant statutory notice, or the date of condonation order or the date on which the Advanced Pricing Agreement was entered (as applicable).
Residential Status in India (for individuals)

(Tick applicable option)

If you are an individual, please specifyyour residential status in the given list:

A. Resident.

B. Resident but not Ordinarily resident (RNOR)

C. Non Resident

In case you are a resident/RNOR, please also indicate the basis for claiming status of resident/RNOR by checking the applicable box against these categories.

In case you are a non-resident, please specify the jurisdiction of residence during the previous year and your Taxpayer Identification Number (TIN) in that jurisdiction.

In case you are a non-resident, but a citizen of India or person of Indian origin, please specify the total number of days for which you stayed in India during the previous year, and during the four preceding years.

In case TIN has not been allotted in the jurisdiction of residence, the passport number should be mentioned instead of TIN. Name of the country in which the passport was issued should be mentioned in the column “jurisdiction of residence”.

Residential Status in India (for HUF)

(Tick applicable option)

If you are a HUF, please specifyyour residential status by ticking the applicable checkbox:

  • Resident.
  • Resident but not Ordinarily resident (RNOR)
  • Non Resident
Do you want to claim the benefit u/s 115H (Applicable in case of
Resident)
If you were NRI in earlier years, but are a resident in India for this year, please specify whether you want to claim benefit of special provisions under Chapter XII-A in respect of investment income from any foreign exchange asset, by ticking the applicable checkbox:

  • Yes
  • No
Are you governed by Portuguese Civil Code as per section 5A? If you are governed by the system of community of property under the Portuguese Civil Code 1860, please tick ‘Yes’ and fill up the information necessary for apportionment of income between husband and wife in Schedule 5A. Else, tick ‘No’.
Whether this return is being filed by a
representative assessee
Please tick the applicable check box.

  • Yes
  • No

In case the return is being filed by a representative assessee, please furnish the following information:-

(a) Name of the representative

(b) Capacity of the representative (select from drop down list)

(c) Address of the representative

(d) PAN of the representative

(e) Aadhaar Number of the representative

Whether you are Partner in a firm? If you were Partner in a firm at any time during the previous year, please tick ‘Yes’ and provide information about name & PAN of the firm.

Else, tick ‘No’.

Whether you were Director in a company at any time during the
previous year?
If you are an individual and were Director in a company at any time during the previous year, please tick ‘Yes’ and provide information about name, type & PAN of the company, your DIN and indicate whether, or not, shares of the company are listed on a recognised stock exchange.

Else, tick ‘No’.

Please note that furnishing of PAN and DIN is not mandatory in case of a foreign company.

a) In case you are a director of a Foreign
Company which does not have PAN. You should choose “foreign company” in the drop-down provided for “type of company”. In such case, PAN is not mandatory. However, PAN should be mentioned, if such foreign company has been allotted a PAN.

b) Even in case you are an individual who is a non-resident, or resident but not ordinary resident (RoNR), you are still required to
disclose details of your directorship in a foreign company which does not have any income accruing or arising in India

Whether you have held unlisted equity shares at any time during the
previous year?
If you have held investment in any unlisted equity shares at any time during the previous year, please tick ‘Yes’ and furnish information about name, type & PAN of company, opening balance, shares acquired/ transferred during the year and closing balance, in the given table.

Else, tick ‘No’.

a) If you have held shares of a company during the previous year, which are listed in a recognized stock exchange outside India. You may select “No” here and you are not required to report the requisite details here

b) In case have held equity shares of a company which were previously listed in a recognised stock exchange but delisted subsequently, and became unlisted. In such cases PAN of the company may be furnished if it is available. In case PAN of delisted company cannot be obtained, you may enter a default value in place of PAN, as “NNNNN0000N”.

c) In case unlisted equity shares are acquired or transferred by way of gift, will, amalgamation, merger, demerger, or bonus issue etc., In such cases You may enter zero or the appropriate value against “cost of acquisition” or “sale consideration” in such cases. Please note that the details of unlisted equity shares held during the year are required only for the purpose of reporting. The quantitative details entered in this column are not relevant for the purpose of computation of total income or tax liability

d) Even in case where you have held shares in an unlisted foreign company which has been duly reported in the Schedule FA. You are required to report the same again in this clause.

e) Even in case where you have held unlisted equity shares as stock-in-trade of business during the previous year you are required to report the same in this clause.

f) In case you are holding equity shares of a Co­-operative Bank or Credit Societies, which are unlisted, only the details of equity shareholding in any entity which is registered under the Companies Act, and is not listed on any recognised stock exchange, is only required to be reported.

In case of non-resident, is there a permanent establishment (PE) in India? If you are a non-resident, please specify whether you have a permanent establishment in India by ticking the applicable checkbox:

  • Yes
  • No
Whether assessee is located in an International Financial Services Centre (IFSC) and derives income solely in convertible
foreign exchange?
If you are located in IFSC and derives income solely in convertible foreign exchange, please tick the applicable checkbox:

  • Yes
  • No
AUDIT INFORMATION
Are you liable to maintain accounts as per section 44AA? Please indicate whether you are liable to maintain books of accounts and other documents u/s 44AA necessary for computation of total income in accordance with the provisions of the Income-tax Act by ticking the applicable checkbox:

  • Yes
  • No

In case you are engaged in any specified profession

(i.e. legal, medical, engineering, architecture, accountancy, technical consultancy, interior
decoration or any other notified profession)
, or your income from business or non-specified profession exceeds Rs. 2.5 lakh, or the turnover of such business or non-specified profession exceeds Rs. 25 lakh, you are liable to keep and maintain books of accounts and other documents.

Whether assessee is declaring income only under section
44AE/44B/44BB/ 44BBA/44BBB
Please indicate whether you are declaring income only under section 44AE/44B/ 44BB/44BBA/44BBB by ticking the applicable checkbox:

  • Yes
  • No
If No, whether during the year Total sales/ turnover/ gross receipts of business exceeds Rs. 1 crore but does not exceeds Rs. 5 Crore? If no is selected above, whether during the year Total sales/turnover/gross receipts of business exceeds Rs. 1 crore but does not exceeds Rs. 5 Crore by ticking the applicable checkbox:

  • Yes
  • No
If Yes is selected at a2i, whether aggregate of all amounts received including amount received for sales,
turnover or gross receipts
or on capital account such as capital contribution, loans etc. during the previous year, in cash, does not exceed five per cent of said
amount?
Please indicate whether aggregate of all amounts received including amount received for sales,
turnover or gross receipts or on capital account such as capital contribution, loans etc. during the previous year, in cash, does not exceed five per cent of said amount by ticking the applicable checkbox

  • Yes
  • No
If Yes is selected at a2i, whether aggregate of all payments made including amount incurred for
expenditure or on capital
account such as asset acquisition, repayment of loan etc., in cash, during the previous year does
not exceed five per cent of the said payment ?
Please indicate whether aggregate of all payments made including amount incurred for expenditure or on capital account such as asset acquisition, repayment of loan etc. in cash, during the previous year does not exceed five per cent of the said payment by ticking the applicable checkbox:

  • Yes
  • No
Are you liable for audit

under section 44AB?

Please indicate whether you are liable to get your accounts audited by an accountant and furnish the report of audit u/s 44AB by ticking the applicable checkbox:

  • Yes
  • No
If (b) is Yes, whether the accounts have been audited by an
accountant?
If Yes, furnish the following information
below 
In case you are liable for audit, please indicate

whether the accounts have been audited by an accountant and furnish the following details of audit-

(1) Date of furnishing of the audit report
(DD/MM/YYYY)

(2) Name of the auditor signing the tax audit report

(3) Membership No. of the auditor

(4) Name of the auditor (proprietorship/ firm)

(5) Proprietorship/firm registration number

(6) Permanent Account Number (PAN)/ Aadhaar Number of the proprietors hip/ firm

(7) Date of report of the audit

Please ensure that form 3CA-3CD or form 3CB-3CD is filed at e-filing portal

Are you liable for Audit u/s 92E? In case you have entered into an international

transaction or specified domestic transaction during the previous year, please tick ‘Yes’ and mention date of furnishing the audit report u/s 92E.

Else, tick ‘No’.

If yes is selected , please ensure that form 3CEB is filed at e-filing portal

Date of furnishing audit report? DD/MM/YYYY
If liable to furnish other audit report, mention the

date of furnishing the
audit report? (DD/MM/YY)

In case you are liable to furnish an audit report under any other provision of the Income-tax Act, please select the relevant clause and section from the given list and mention the date of furnishing such audit report.

List of provisions mandating audit report :-

1. 10A

2. 10AA

3. 33AB

4. 33ABA

5. 44DA

6. 50B

7. 80-IA

8. 80-IB

9. 80-IC

10. 80-ID

11. 80-IE

12. 80JJAA

13. 80LA

14. 115JC

If liable to audit under any Act other than the Income-tax act, mention the Act, section and date of furnishing the audit report? In case your accounts are required to be audited under any other law (other than Income-tax Act), please specify the relevant provision mandating the audit, and mention the date of furnishing such audit report.

List of other laws mandating audit:-

Banking Regulation Act, 1949

Central Excise Act, 1944

Central Sales Tax Act, 1956

Central Goods and Services Tax Act, 2017

Charitable And Religious Trusts Act, 1920

Electricity Act, 2003

Employees Provident Fund and Miscellaneous

Provisions Act, 1952

Foreign Exchange Management Act, 1999

Government Superannuation Fund Act, 1956

Indian Trusts Act, 1882

Integrated Goods and Services Tax Act, 2017

Limited Liability Partnership Act, 2008

Payment of Gratuity Act, 1972

SEBI Act, 1992

Securities Contract (Regulation) Act, 1956

State Goods and Services Tax Act, 2017

Union Territories Goods and Services Tax Act, 2017 Others

In case of others a text box shall be provided to enter details.

Nature of Business

Please enter the name of business, business Code and description of business. The applicable business code can be selected from the list provided at the end of this instruction. If you were engaged in more than one business or profession during the previous year, indicate the three main activities or products.

However, in case you are declaring income from business or profession on presumptive basis u/s. 44AD, u/s. 44ADA or u/s. 44AE, please fill up the details of nature of business at column 61 or column 62 or column 63 of Part A- P&L (as applicable) instead of thisschedule.

PART A – BS

In this part, please fill up the details of the Balance Sheet items as on 31stMarch, 2020,as per the given format, in respect of the proprietary business or profession carried out during the financial year 2019-2019.

The reported figures of the balance sheet should match with the audited balance sheet, in case the accounts were required to be audited .Any other activity not being accounted in the books of proprietary business or profession, need not be included in this balance sheet.

However, in case you were not required to maintain regular books of account of the business or profession, please fill up only the summary details sought at item No. 6 of this part and leave out other parts.

Part A – Manufacturing Account (Item No. 1 to 3)

In this part, please fill up the details of Manufacturing Account for the financial year 2019-20such as the opening inventory, purchases, direct wages, direct expenses, factory overheads and closing stock.At item No. 3 of this part, the cost of goods produced is computed on the basis of figures reported for debits to manufacturing account and closing stock. which is then transferred to item No. 11 of trading account.

However, in case you were not required to maintain regular books of account of the business or profession, please fill up only the details sought at item No. 61(income taxable u/s. 44AD) or 62(income taxable u/s. 44ADA) or 63(income taxable u/s. 44AE) or 64 (if regular books of accounts are not maintained for business or profession)or 65 (if regular books of accounts are not maintained for speculative business) of Part A – P&L, whichever is applicable, and leave out this part.

Part A-Trading Account (Item No. 4 to 12)

In this part, please fill up the details of Trading Account for the financial year 2019-20such as Sales/Gross receipts of business/profession, duties, taxes and cess etc. in respect of supplies, closing stock and opening stock of finished goods, purchases, direct expenses,duties/taxes etc. in respect of purchases. At item No. 12 of this part, the gross profit from business/profession is computed on the basis of figures reported for sales etc. which is then transferred to item No. 13 of profit and loss account.

However, in case you were not required to maintain regular books of account of the business or profession, please fill up only the details sought at item No. 61(income taxable u/s. 44AD) or 62(income taxable u/s. 44ADA) or 63(income taxable u/s. 44AE) or 64 (if regular books of accounts are not maintained for business or profession)or 65 (if regular books of accounts are not maintained for speculative business) of Part A – P&L, whichever is applicable, and leave out this part.

Part A – P& L (Item No. 13 to 60)

In this part, please fill up the details of the profit and loss accountfor the financial year 201 9-20as per the given format, in respect of the proprietary business or profession carried out during the financial year 2019-20.

In case you were required to maintain regular books of accounts for the proprietary business or profession, please fill up details at item No. 13 to 60.

In case you are not required to maintain regular books of accounts, please fill up details at item No. 61(income taxable u/s. 44AD) or 62(income taxable u/s. 44ADA) or 63(income taxable u/s. 44AE) or 64 (if regular books of accounts are not maintained for business or profession)or 65 (if regular books of accounts are not maintained for speculative business) of this part, whichever is applicable, and leave out other items.

The reported figures of the profit and loss account should match with the audited profit and loss account, in case the accounts were required to be audited.Any other activity not being accounted in the books of proprietary business or profession need not be included in this profit and loss account.

Part A – P& L (Item No. 61)

Please fill up item No. 61 only in case you are declaring income from any business activity on presumptive basis as per section 44AD. Please also ensure that the receipts/income from such business activity should not be included in the proprietary business or profession being reported at item Nos. 1 to 60.

In the table, please enter the name of business, business code and description of business. The applicable business code can be selected from the list provided at the end of this instruction.

The gross turnover or receipts from the business during the financial year should be reported at column 61(i). The break-up of total turnover in terms of turnover realised through digital modes and turnover realised through other modes (cash etc.) should also be furnished at columns 61(ia) and 61(ib) respectively.

The presumptive income from the business should be reported at column 61(ii), which is required to be computed @ 6% in respect of turnover realised through digital modes and @ 8% in respect of turnover realised through other modes (cash etc.).

In case you have actually earned income at the rates higher than the specified percentage of turnover (i.e. 8% or 6%, as applicable), please note that you have to declare income at such higher rate.

However, if the income being declared is less than the specified percentage of turnover, it is mandatory to maintain books of accounts and get the same audited under section 44AB. In such case, the details of tax audit have to be mentioned in Part-A (General) – Audit information and the details of income etc. have to be reported in the regular columns i.e. item No. 1 to 60.

Part A – P& L (Item No. 62)

Please fill up item No. 62 only in case you are declaring income from any professional activity on presumptive basis as per section 44ADA. Please also ensure that the receipts/income from such profession activity should not be included in the proprietary business or profession being reported at item Nos. 1 to 60.

In the table, please enter the name of profession, business code and description of profession. The applicable business code can be selected from the list provided at the end of this instruction.

The gross receipts from the professional activity during the financial year should be reported at column 62(i).

The presumptive income from the professional activity should be reported at column 62(ii), which is required to be computed @ 50% of gross receipts.

In case you have actually earned income at the rates higher than the specified percentage of gross receipts (i.e. 50%), please note that you have to declare income at such higher rate.

However, if the income being declared is less than the specified percentage of gross receipts, it is mandatory to maintain books of accounts and get the same audited under section 44AB. In such case, the details of tax audit have to be mentioned in Part-A (General) – Audit information and the details of income etc. have to be reported in the regular columns i.e. item No. 1 to 60.

Part A – P& L (Item No. 63)

Please fill up item No. 63 only in case you are declaring income from business of plying, hiring or leasing of goods carriages on presumptive basis as per section 44AE. Please also ensure that the receipts/income from such business activity should not be included in the proprietary business or profession being reported at item Nos. 1 to 60.

In the first table, please enter the name of business, business code and description of business. The applicable business code can be selected from the list provided at the end of this instruction.

In the second table at S. No. 63(i), please enter the details of registration No., ownership, tonnage capacity, period of ownership and presumptive income in respect of each goods carriage in the respective column. These details are to be furnished separately for each goods carriage owned during the year, in separate rows,

In the column on ownership [column No. (2)],please indicate whether the goods carriage was engaged for plying, hiring or leasing by the assessee. In the column on period of ownership [column No. (4)], please mention the number of months for which the goods carriage was engaged in plying, hiring or leasing by the assessee.

The total presumptive income from the business of goods carriages should be reported at S. No. 63(ii), which is the aggregate amount of presumptive incomes from each goods carriage reported at column (5) of the second table.These details are to be furnished separately for each goods carriage owned during the year, in separate rows. Please note at any time during the year the number of vehicles should not exceed, ten vehicles

In case you have actually earned income at the rates higher than the specified rate per vehicleper month, please note that you have to declare income at such higher rate.

However, if the income being declared is less than the specifiedrates per vehicle, or number of vehicles exceeds ten at any time during the year, it is mandatory to maintain books of accounts and get the same audited under section 44AB. In such case, the details of tax audit have to be mentioned in Part-A (General) – Audit information and the details of income etc. have to be reported in the regular columns i.e. item No. 1 to 60.

Part A – P& L (Item No. 64)

In case you are not required to maintain regular books of accounts in respect of the business or profession carried on during the year, please fill up the summary details in respect of such activity at column 64 viz. gross receipts, gross profit, expenses and net profit.

Part A – P& L (Item No. 65)

In case you are engaged in any speculative activity during the year, please fill up the summary details in respect of such activity at column 65 viz. turnover, gross profit, expenses and net income.

PART A- OI (Other Information)

Part A-OI, contains details of allowances & disallowances under Income tax act.In case the books of accounts of the proprietory business or profession were required to be audited under section 44AB, it is mandatory to fill up the information sought at various items (item No. 1 to 17) of this part. Otherwise, please fill up the information at items which are applicable.Blank numeric fields will be treated as zeroes

Further, the figures mentioned against those items which are also required to be reported in the tax audit u/s 44AB should match with the information given in the tax audit report.

PART A-QD (Quantitative Details)

In Part A-QD, the quantitative details of trading and manufacturing account are required to be furnished in respect of principal items.

In case the books of accounts of the proprietory business or profession were required to be audited under section 44AB, it is mandatory to fill up the information sought at various items of this part.

In case of a trading concern, please fill up the quantitative details of opening stock, purchase and sales during the year and closing stock for principal items.

In case of a manufacturing concern, please fill up the quantitative details of main items of raw materials (viz. opening stock; purchase, consumption and sales during the year; closing stock & yield of finished products) and quantitative details of main items of finished products and by-products (viz. opening stock; purchase, manufacturing and sales during the year; closing stock).

Schedule S-Details of Income from Salary

Field Name Instruction
Name of employer Enter the name of the Employer.
Nature of Employer In case of individuals, please tick the applicable check box-

(a) If you are a Central Government Employee, tick ‘Central Government’

(b) If you are a State Government Employee, tick ‘State Government’

(b) If you are an employee of Public Sector Enterprise (whether Central or State Government), tick ‘Public Sector Undertaking’

(c) If you are drawing pension, tick ‘Pensioners’

(d) If you are an employee of Private Sector concern, tick ‘Others’

TAN of Employer (mandatory if tax is deducted) Please enter the Tax deduction Account Number (TAN) of the Employer as mentioned in Form-16.
Address of employer Please enter the complete address of the employer including name of town or city, State and Pin code/Zip code. The name of State has to be selected from the drop down list.
Town/City
State
Pin code/ Zip code
1 Gross Salary This is an auto-populated field representing aggregate of the amounts entered at fields (1a), (1 b) and (1c) below.
1a Salary as per section 17(1) Please select the type of salary payments from the given list and enter the amount.In case more than one type of salary payment has been received during the year, please report each type of payment as separate line item.

List of types of salary payment:-

1. Basic Salary

2. Dearness Allowance (DA)

3. Conveyance Allowance

4. House Rent Allowance (HRA)

5. Leave Travel Allowance (LTA)

6. Children Education Allowance (CEA)

7. Other Allowance

8. The contribution made by employer towards pension scheme as referred under section 80CCD

8. Amount deemed to be income under rule 6 of Part-A of Fourth Schedule

9. Amount deemed to be income under rule 11(4) of Part-A of Fourth Schedule

10. Annuity or pension

11. Commuted Pension

12. Gratuity

13. Fees/ commission

14. Advance of salary

15. Leave Encashment

16. Others (please enter the details in the text box)

1b Value of perquisites as per section 17(2) Please select the type of perquisites from the given list and enter the value thereof. In case more than one type of perquisite has been received during the year, please report each type of perquisite as separate line item.

List of types of perquisite :-

1. Accommodation

2. Cars/Other Automotive

3. Sweeper, gardener, watchman or personal attendant

4. Gas, electricity, water

5. Interest free or concessional loans

6. Holiday expenses

7. Free or concessional travel

8. Free meals

9. Free education

10. Gifts, vouchers, etc.

11. Credit card expenses

12. Club expenses

13. Use of movable assets by employees

14. Transfer of assets to employee

15. Value of any other benefit/amenity/service/privilege

16. Stock options (non-qualified options)

17. Tax paid by employer on non-monetary perquisite

18. Other benefits or amenities (please enter the details in a separate text box).

1c Profits in lieu of salary as per section 17(3) Please select the nature of profits in lieu of salary from the given list and enter the value thereof. In case more than one profit in lieu of salary has been received during the year, please report each as a separate line item.

List of types of profits in lieu of salary:-

1. Any compensation due or received by an assessee from an employer or former employer in connection with the termination of his employment or modification thereto.

2. Any payment due or received by an assessee from an employer or former employer, or from a provident or other fund sum received under Keyman Insurance Policy, including bonus on such policy.

3. Any amount due or received by an assessee from any person before joining any employment with that person, or after cessation of his employment with that person.

4. Any other (please enter the details in a separate text box).

In case you are employed with more than one employer during the year, please provide details of Gross Salary at column (1), as also break-up thereof at columns (1a), (1b) and (1c), separately for each employer, by adding multiple rows as necessary.
2 Total Gross Salary Please enter the aggregate amount of gross salary received from all employers during the year.
3

 

Less allowances to the extent exempt u/s 10 (Note-Ensure that it is included in Total Gross salary in (2) above )

 

Please select the allowances from the drop down (as per list) and enter the amount which is exempt. In case multiple allowances are claimed as exempt, please enter details of each allowance as separate line item.
List of allowances:-
Sec 10(5)- Travel concession/assistance received
Sec  10(6)- Remuneration received as an        official, by whatever name called, of an Embassy, High Commission etc.
Sec 10(7)- Allowances or perquisites paid or allowed as such outside India by the Government to a citizen of India for rendering services outside India
Sec 10(10)- Death–cum-retirement gratuity received
Sec 10(10A)- Commuted value of pension received
Sec 10(10AA)- Earned leave encashment on retirement Note: If category of employer is other than “Central or State Government” deduction u/s. 10(10AA) shall be restricted to Rs. 3 Lakh
Sec 10(10B)First Proviso- Compensation limit notified by CG in the Official Gazette
Sec 10(10B) Second proviso- Compensation under scheme approved by the Central Government
Sec 10(10C)- Amount received/receivable on voluntary retirement or termination of service
Sec 10(10CC)- Tax paid by employer on non-monetary perquisite
Sec 10(13A)- Allowance to meet expenditure incurred on house rent
Sec 10(14)(i)- Allowances or benefit, not being in the nature of perquisite, specifically granted to meet expenses incurred in the performance of the duties of an office or employment of profit
Sec 10(14)(ii)- Allowances or benefits not in a nature of perquisite specifically granted in performance of duties of office or employment.
Any Other exemption – In case of any other allowances enter the details in a text box provided.
4 Net Salary (2 – 3) This is an auto-populated  field representing          the net amount, after deducting the exempt allowances [3] from the Gross Salary [2].
5. Deductions u/s 16 (5a + 5b + 5c) This is an auto-populated field representing aggregate of the amounts entered at fields (5a), (5b) and (5c) below.
5a Standard Deduction u/s 16(ia) This is an auto-populated field as lower of 4 (Net Salary) or Rs. 50,000.
5b Entertainment allowance u/s 16(ii) Please enter the amount of Entertainment allowance admissible as deduction u/s 16(ii) (as per Part B of Form 16)
5c Professional    tax     u/s 16(iii) Please enter the amount of Professional tax paid which is admissible as deduction u/s 16(iii) (as per Part B of Form 16)
6 Income chargeable under the Head
‘Salaries’ (4 – 5)
This is an auto-populated field representing the net amount, after claiming deductions under section 16 [5] against the Net Salary [4].

Download Full Text of Instructions for filling out FORM ITR-3 for AY 2020-21

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