ITR-3 Filing — Business & Professional Income
ITR-3 is for individuals and HUFs with income from a proprietary business or profession — doctors, lawyers, architects, consultants, traders, and manufacturers who maintain regular books of accounts. It requires a full P&L statement, balance sheet, and disclosure of all business assets and liabilities. We prepare your books, compute business income after all allowable deductions, and file the return with complete financial schedules.
What's Included
Everything you get when you engage BSP Associate for ITR-3 Filing — Business & Professional Income.
- Business and professional income computation
- Books of accounts preparation and finalisation
- All allowable business expenses and depreciation claimed
- P&L statement and balance sheet preparation
- Tax audit applicability check (Section 44AB)
- Advance tax computation and payment tracking
- E-filing with DSC or Aadhaar OTP e-verification
Documents Required
Have these ready before you reach out — it speeds things up considerably.
Documents You'll Need
Please arrange these before your consultation
- PAN card and Aadhaar card
- All sales invoices and purchase bills for the year
- Bank statements for all business and personal accounts
- Cash book / petty cash records
- Fixed asset details with purchase date and cost (for depreciation)
- Loan statements and interest certificates
- TDS certificates (Form 16A) from clients who deducted TDS on professional fees
- Form 26AS and AIS — download from IT portal
Don't have these? We'll prepare them for you.
BSP Associate can draft and file all of the following
- P&L statement and balance sheet for the financial year
- Depreciation schedule under Income Tax Act
- Business income computation with all allowable deductions
- Advance tax computation and due date schedule
- Tax audit report in Form 3CA/3CB and 3CD (if turnover exceeds ₹1 crore)
Frequently Asked Questions
Common questions about ITR-3 Filing — Business & Professional Income.
ITR-3 is for individuals and HUFs with income from a proprietary business or profession — including doctors, lawyers, architects, consultants, traders, manufacturers, and anyone earning as a partner in a partnership firm. It is also required if you have capital gains along with business income, or if you are not eligible for the presumptive scheme under Section 44AD or 44ADA.
BS Balaji
Founder & Principal Consultant
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