ITR-3 · Panaji, Goa
Accurate ITR-3 filing for individuals and HUFs in Goa earning business or professional income — proper books, profit & loss and balance sheet reporting, with tax audit linkage and on-time e-filing.
Overview
ITR-3 is the return for individuals and HUFs who earn income from a proprietary business or profession — including traders, doctors, consultants, freelancers and partners drawing remuneration or interest from a firm — and who may also have salary, house property, capital gains and other income.
We prepare your profit & loss account and balance sheet, report business income with correct depreciation and disallowances, and link your return to a tax audit under Section 44AB where turnover thresholds apply. If you qualify for presumptive taxation, we may instead recommend ITR-4.
What's covered
Complete filing for business owners, professionals and partners.
Get a fixed-fee quote →Computation of net profit from your trade or profession with allowable expenses and depreciation.
Preparation and reporting of financial statements as required in the ITR-3 schedules.
Reporting of remuneration, interest and share of profit from partnership firms or LLPs.
Coordination with Section 44AB audit and Form 3CD where turnover or receipts cross limits.
Salary, house property, capital gains and other income combined into one accurate return.
Online filing with all business schedules and prompt e-verification.
Our process
Send your books, bank statements and other income details.
We finalise accounts and confirm if a tax audit applies.
Business income computed, return reviewed with you.
File on the portal and e-verify before the due date.
Frequently asked questions
ITR-3 is for individuals and HUFs who have income from a proprietary business or profession. This includes traders, freelancers, doctors, consultants and partners receiving remuneration, interest or profit share from a firm, who may also have salary, capital gains, house property and other income.
ITR-3 is for taxpayers maintaining regular books and reporting actual business or professional profit. ITR-4 (Sugam) is for those opting for presumptive taxation under Sections 44AD, 44ADA or 44AE, where income is declared at a prescribed percentage without detailed books. We advise which suits you best.
Generally yes. If your income or turnover exceeds the prescribed limits, you must maintain books of account, and a profit & loss account and balance sheet are required in the return. We help you maintain compliant records and prepare these statements.
A tax audit under Section 44AB applies when business turnover exceeds the prescribed limit (₹1 crore, extended up to ₹10 crore where cash transactions are within 5%) or professional gross receipts exceed ₹50 lakh, and in certain presumptive cases. We handle the audit and Form 3CD alongside the return.
Yes. A working partner who receives remuneration, interest on capital or a share of profit from a partnership firm or LLP files ITR-3 to report that income, even though the firm itself files ITR-5. We report partner income correctly and claim exempt profit share.
You can claim expenses incurred wholly and exclusively for the business — such as rent, salaries, utilities, depreciation on assets and other operating costs — subject to disallowances like cash payments above limits or unpaid statutory dues. We optimise your claims while staying compliant.
For non-audit cases the due date is generally 31 July of the assessment year, while taxpayers requiring a tax audit usually have until 31 October. Late filing attracts fees and interest, so we plan and file in good time.
Book a free consultation and share your books and income details. We finalise your accounts, confirm any audit requirement, compute your business income accurately and file and e-verify your ITR-3 before the due date on a transparent fee.
Related filings
Book a free consultation with a qualified Chartered Accountant in Goa. We'll prepare your accounts and file your ITR-3 on time — no obligation.