ITR-3 Calculator (ITR-3 for Business or Profession) - Financeskill

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ITR-3 Calculator (Business or Profession)

Personal Details

Financial Year:

Entity Type:

Tax Regime:

Filing Status:

Residential Status:

Business or Profession Income

Opt for Presumptive Taxation (Section 44ADA, 50% of receipts)?

Gross Receipts/Turnover:

Total Expenses (excluding depreciation):

Depreciation:

Net Profit/Loss:

Other Income

House Property Income

Self-Occupied Property

Rental Income (if any):

Interest on Home Loan:

Let-Out Property

Rental Income:

Municipal Taxes Paid:

Interest on Home Loan:

Capital Gains

Short-term Capital Gains (Equity - 15%):

Short-term Capital Gains (Non-Equity - Slab Rate):

Long-term Capital Gains (Equity - 10% above ₹1L):

Long-term Capital Gains (Non-Equity - 20%):

Income from Other Sources

Interest from Savings Account:

Interest from Fixed Deposits:

Dividend Income:

Family Pension:

Other Income (e.g., Lottery, Gifts):

Foreign Income and Assets

Foreign Income:

Do you have Foreign Assets?

Deductions (Old Regime only)

Section 80C (Max ₹1,50,000):

Section 80D (Max ₹25,000 / ₹50,000 for senior citizens):

Section 80G:

Section 80TTA (Max ₹10,000 - Savings Interest):

Section 80TTB (Max ₹50,000 - Senior Citizens):

—A Section 80CCD(1B) (Max ₹50,000 - NPS):

Other Deductions (e.g., 80E, 80U):

Taxes Paid

TDS from Business/Profession:

TDS on Interest:

TDS from Other Sources:

Advance Tax Paid:

Self-Assessment Tax Paid:

Exempt Income

Agricultural Income (Exempt):

Other Exempt Income (e.g., PPF Interest):

Tax Calculation

Frequently Asked Questions

What is ITR-3?

ITR-3 is used by individuals and HUFs with income from a proprietary business or profession, including house property, capital gains, or other sources, and for directors or those with unlisted equity shares.

Who can file ITR-3?

Individuals/HUFs with business/profession income, directors, or those with complex income sources not eligible for ITR-1, ITR-2, or ITR-4. Not for partners in firms.

Can I opt for presumptive taxation with ITR-3?

Yes, professionals with gross receipts up to ₹75 lakh can opt for 50% taxation under Section 44ADA, but businesses under 44AD/44AE use ITR-4.

What documents are needed for ITR-3?

Balance sheet, profit and loss statement, Form 26AS, investment proofs, bank statements, and property details.

What if I miss the ITR-3 filing deadline?

File a belated return by January 15 of the assessment year with a penalty of up to ₹5,000 and 1% monthly interest on unpaid tax.