ITR-3 Return Filing — business and professional income, done properly.
ITR-3 preparation and filing for proprietors, freelancers, consultants, and professionals — business income, P&L, balance sheet, tax audit, and capital gains handled end-to-end by Chartered Accountants in Mumbai.
Contact UsITR-3 is the income tax return form for individuals and Hindu Undivided Families who earn income from a proprietary business or profession. Doctors, freelance consultants, architects, lawyers, traders, and business proprietors all must file ITR-3 when not using the presumptive taxation route. It is the most comprehensive individual return form, requiring a full Profit and Loss Account, Balance Sheet, and supporting schedules.
The complexity of ITR-3 lies in its breadth. The form demands quantitative details of trading activity, breakdowns of expenses claimed, and reconciliation of books with what the department sees in the AIS. When turnover crosses Rs 1 crore or professional receipts exceed Rs 50 lakh, a tax audit under Section 44AB is mandatory — and the audit report in Form 3CD must be filed before the return.
NDS Advisors handles ITR-3 preparation and filing for proprietors, consultants, medical professionals, lawyers, and freelancers across Mumbai. We prepare financial statements, conduct the tax audit where required, compute business income accurately, and ensure every deduction — including depreciation, professional development, and office expenses — is correctly claimed.
Our ITR-3 Return Filing Services
Business P&L & Balance Sheet
Preparation of Trading Account, Profit and Loss Account, and Balance Sheet in ITR-3 format — reconciled with your books of accounts.
Tax Audit — Form 3CA/3CB & 3CD
Mandatory tax audit under Section 44AB for eligible taxpayers, with Form 3CD covering all reporting clauses filed before the ITR.
Expense & Depreciation Claim
Accurate computation of business expenses — office rent, salaries, professional fees, travel, and depreciation on assets — under the Income Tax Act.
Business Capital Gains
Reporting of capital gains on business assets, goodwill, and investments alongside regular business income in the correct ITR-3 schedules.
Section 44AA — Books of Accounts
Guidance on books maintenance obligations under Section 44AA for businesses and professionals above prescribed thresholds.
Advance Tax & TDS Management
Review of advance tax payments, TDS deducted on professional receipts, and computation of any balance tax payable with interest.
Speculative & Derivative Income
Separate reporting of intraday trading income (speculative) and F&O trading income (non-speculative business income) in Schedule BP.
E-filing & Verification
Complete filing with all schedules on the Income Tax portal followed by e-verification and acknowledgement.
Our Process
Books & Documents Review
Collect books of accounts, bank statements, invoices, asset register, and prior year return for continuity of opening balances.
P&L & Balance Sheet Preparation
Prepare financial statements from your records; verify income, expenses, and depreciation in accordance with Income Tax Act provisions.
Tax Audit (if applicable)
Conduct Section 44AB audit and prepare Form 3CD with all clause-wise disclosures; upload audit report before filing the ITR.
Schedule Preparation & Computation
Prepare Schedule BP (business income), CG (capital gains), and all other schedules; compute total income and tax.
Filing & E-verification
Submit ITR-3 on the portal after client confirmation; complete e-verification and provide acknowledgement with copies of all schedules.
Why It Matters
Frequently Asked Questions
Business income filed with precision.
From P&L preparation to tax audit to final e-filing, our Chartered Accountants handle your ITR-3 end-to-end.
