ITR-3 Return Filing Registration In Hyderabad
Manage your business income and file ITR-3 returns in Hyderabad with expert support from Gajjala Associates. We specialize in helping professionals and business owners stay compliant with tax laws while maximizing savings. Whether you’re a partner in a firm or running a proprietary business, our solutions are accurate, fast, and hassle-free.
- Filing for individuals & HUFs having business/professional income
- Preparation of Profit & Loss Account and Balance Sheet
- Reporting of salary, house property, and capital gains income
- Assistance with presumptive & non-presumptive taxation
- Claiming deductions, depreciation, and rebates
- Advance Tax, TDS, and Self-Assessment Tax guidance
- End-to-End Online Registration Support
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Overview
Income Tax Return Form 3 (ITR-3) is designed for individuals and Hindu Undivided Families (HUFs) who earn income from a proprietary business or profession. If you’re self-employed, a freelancer, a consultant, or running your own business, filing ITR-3 is not just a legal necessity it’s a crucial step in managing your finances and demonstrating your financial credibility. Gajjala Associates is a trusted name in Hyderabad for professional tax filing services. Our ITR-3 return filing services ensure that all your income sources, deductions, and compliance requirements are addressed accurately. We handle everything from preparing your books to submitting the return on the government portal so you can stay focused on running your business. Whether your income includes business profits, professional receipts, capital gains, rent from house property, or income from other sources, we offer a seamless and error-free filing experience backed by expert advice and ongoing support. OPC combines the simplicity of a sole proprietorship with the legal advantages of a company—such as separate legal identity, limited liability, and continuous existence. It also allows easier access to funding and improved credibility with clients and vendors. Gajjala Associates offers assistance in the registration process of One Person Companies in Hyderabad, ensuring that documentation, compliance, and approvals are handled as per Ministry of Corporate Affairs (MCA) norms.
Eligibility
You are eligible to file ITR-3 if you meet any of the following conditions:
- You are an Individual or a Hindu Undivided Family (HUF)
- You earn income from a proprietary business or professional practice (e.g., doctors, consultants, freelancers, shop owners, etc.)
- You have income from multiple sources such as: Business or profession (under Section 44AA or 44AB) , Salary or pension , House property, Capital gains ,Other sources (interest, dividends, etc.)
- You are a partner in a firm but not carrying on the firm’s business individually
- You have: Income from foreign assets or foreign income , Unlisted equity shares , Held the position of a director in a company
Benefits
Filing your ITR-3 return on time not only ensures legal compliance but also offers a wide range of financial and professional benefits. Here’s why it’s essential:
1. Legal Compliance
- Meet your obligations under the Income Tax Act and avoid late fees, penalties, or notices.
2. Smooth Loan Approvals
ITR-3 acts as proof of income for business loans, personal loans, and home loans.
3. Visa & Immigration Applications
- A valid filed ITR strengthens your visa documentation for travel or immigration.
4. Claim Business Expenses
- Deduct eligible business-related expenses, reducing your overall tax liability.
5. Carry Forward Losses
- File ITR-3 to carry forward business or capital losses to offset future income.
6. Business Credibility
- Enhances your professional image and helps in building trust with clients, banks, and investors.
7. Easy Government Tenders & Registrations
Required for applying to government contracts, MSME registration, and subsidies.
8. Avoid Tax Scrutiny
- Accurate and timely filing minimizes the chances of scrutiny or audit by tax authorities.
Documents Required for ITR-3 Return Filing Registration In Hyderabad
To ensure accurate and hassle-free ITR-3 filing, you will need to provide the following documents:
1. PAN Card
- Mandatory for filing the return
2. Aadhaar Card
Linked with PAN for verification
3. Bank Account Details
Passbook or statements of all active accounts
4. Form 16 (if applicable)
If salaried in addition to business income
5. Form 26AS
Tax credit statement for TDS and advance tax
6. Annual Information Statement (AIS) & TIS
Summary of financial transactions
7. Profit & Loss Account
Statement of income and expenses from your business or profession
8. Balance Sheet
With details of assets and liabilities
9. Details of Loans
If any, availed for business purposes
Registration Process
We ensure a smooth, transparent, and efficient filing process tailored to professionals and business owners. Here's how it works:
1. Initial Consultation
We understand your income structure, nature of business, and sources of income during a free consultation.
2. Document Collection
You provide the necessary documents — either physically or digitally. We offer document pickup services in Hyderabad.
3. Bookkeeping & Data Preparation
Our team prepares your Profit & Loss account, balance sheet, and other relevant reports.
4. Tax Computation
We calculate your total taxable income and applicable deductions to optimize your tax liability.
5. Draft Return Review
A draft ITR is prepared and shared with you for review and approval.
6. Return Filing
Upon confirmation, we file your ITR-3 online through the Income Tax Portal.
7. Acknowledgement & E-Verification
We share the ITR-V acknowledgement and assist you with e-verification to complete the process.
Why Choose Gajjala Associates
At Gajjala Associates, we don’t just file your taxes — we simplify them. Our commitment to accuracy, compliance, and customer satisfaction makes us a preferred tax consultant for professionals and business owners across Hyderabad.
1.Professional Expertise
Our team comprises experienced professionals who understand the intricacies of LLP formation, ROC filings, and legal documentation, ensuring accurate and timely service.
2. End-to-End Support
From DSC, DIN, name approval, to final incorporation and post-registration compliance, we handle the entire LLP registration process with efficiency.
3. Timely Delivery
We value your time. Our streamlined process ensures LLP registration is completed within the committed timelines without delays.
4. Transparent Pricing
No hidden charges. We offer affordable packages with clear cost breakdowns to suit startups, freelancers, and growing businesses.
5. Personalized Assistance
Each client is assigned a dedicated advisor for one-on-one guidance throughout the LLP registration and compliance journey.
6.Local Expertise in Hyderabad
We understand the local business landscape, regulatory environment, and ROC procedures specific to Hyderabad, making us your ideal local partner.
7. Compliance Made Easy
We don’t stop at registration. Our team ensures your LLP stays compliant with annual filings, GST registration, and other legal requirements.
Other Services
- Private limited Company
- Public Limited
- One Person Company Registration
- Partnership Firm Registration
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Frequently Asked Questions (FAQS)
1. What is ITR-3?
ITR-3 is the Income Tax Return form applicable to individuals and Hindu Undivided Families (HUFs) who have income from business or profession under proprietorship, along with other income sources like salary, house property, capital gains, etc.
2. Who should file ITR-3?
You must file ITR-3 if:
- You earn income from business or professional services (e.g., doctor, lawyer, freelancer, consultant)
- You are a proprietor of a business
- You have capital gains, multiple house properties, foreign assets, or directorship in a company
3. Who cannot file ITR-3?
You cannot file ITR-3 if:
- You are a company, LLP, or partnership firm (they must file ITR-5 or ITR-6)
- You don’t have any income from business or profession (in which case ITR-1 or ITR-2 may apply)
4. What documents are required for ITR-3 filing?
You’ll generally need:
- PAN & Aadhaar Card
- Bank statements
- Books of accounts (if maintained)
- Balance sheet & Profit and Loss statement
- GST details (if registered)
- Form 26AS & AIS
- Details of loans, advances, assets & liabilities
- Details of capital gains (if applicable)
Investment proofs (for deductions)
5. What is the due date to file ITR-3?
- Without audit: 31st July of the assessment year
With audit: 31st October of the assessment year
(Note: Dates may change if extended by the government.)
6. Is an audit mandatory for ITR-3 filing?
Yes, if your turnover exceeds the prescribed threshold (e.g., ₹1 crore or ₹10 crore in some digital cases), a tax audit under Section 44AB is required.
7. Can presumptive taxation be used under ITR-3?
Yes. Professionals and small business owners who want to opt out of presumptive taxation (under Section 44ADA or 44AD) must use ITR-3.