The Income Tax Department has announced that the Income Tax Return (ITR) Form-3 is now available for filing through the online mode. This update brings significant ease for taxpayers who were earlier restricted to offline or utility-based filing methods. With this step, the government aims to ensure a smooth and user-friendly experience for individuals and professionals who are required to file ITR-3.
Who Can File ITR-3?
ITR-3 is primarily applicable to individuals and Hindu Undivided Families (HUFs) who earn income from:
- Profits and gains from business or profession.
- Income from house property.
- Salary or pension.
- Capital gains.
- Other sources such as interest or dividends.
This means that professionals like doctors, lawyers, engineers, and self-employed individuals, along with those earning from business activities, fall under the eligibility criteria for filing ITR-3.
Benefits of Online ITR-3 Filing
- Convenience: Taxpayers can file their returns from anywhere without depending on offline utilities.
- Faster Processing: Online submissions lead to quicker verification and faster refunds.
- Error Reduction: Built-in validation checks help reduce mistakes during filing.
- Transparency: Promotes digital governance and minimizes human interference.
Deadline Awareness
Taxpayers are advised to file their ITRs before the due date to avoid penalties and late fees. Filing early also ensures more time for corrections in case of errors.
With the online filing facility, the government is encouraging more taxpayers to shift towards a fully digital compliance ecosystem.8
