How to e filing itr 3 income tax return online - Guide to instruction for filed itr online in excel utility software

How to Prepared Online Income Tax Return ITR-3

INDIAN INCOME TAX RETURN

[For indls and HUFs having income from a proprietary business or profession]

(Please see Rule 12 of the Income Tax-Rules,1962)
(Also see attached Instructions)

You are reading Income tax Act,1961. You are reading Online efiling Income tax return forms in easy and simple step b self. You are reading the Procedure of online fill up Income Tax Return. all assesses or taxpayer want to guide about Income Tax Return Form online filed by taxpayer. now a days, very simple and easy step with instruction to prepared Online Income tax Return Form (ITR-3) in Excel utility software and generated XML file and upload Online Income tax Return in income tax web-portal. any taxpayer or taxable person want to know about Online Income tax return. Here, we are provide to some basic instruction to  help for an assesses and taxpayer. As under read guidelines for introduce the Online Income Tax return Prepared (ITR-3) ITR Form -3 in excel utility file or PDF file. First taxpayer want to filed Online Income tax Return (ITR) online by self. Before Prepared Online Income tax Return, Give a some basic details As under. like, PAN Card, Bank Statement or Passbook, Income From house property – House rent register, Annual rent income, Income from other sources – Bank Interest, F.D. Interest, Share Dividend Income,Bank Share Dividend Income,Commission Income, Brock rage Income,etc.. ..Plant Machinery Rent Income,Factory Shed Rent Income, Vehicle Rent Income,etc.... it's all are Income is called a Income from other sources. Here, You are reading Online Procedure of efiling Income tax return form. 

Who is Liable to e filing Income Tax Return - ITR-3 ? 

ITR-3 Means Only Proprietary Business taxpayer or Professional Business taxpayer liable to filing ITR-3. As under Read the Some Instruction about before fill up Income Tax Utility Software.

Instructions for filling out FORM ITR-3

These instructions are guidelines for filling the particulars in this Return Form. In case of any doubt, please refer to relevant
provisions of the Income-tax Act, 1961 and the Income-tax Rules, 1962.

1. Assessment Year for which this Return Form is applicable
This Return Form is applicable for assessment year 2017-18 only, i.e., it relates to income earned in Financial Year 2016-17.

2. Who can use this Return Form?
This Return Form is to be used by an individual or a Hindu Undivided Family who is carrying out a proprietary business or profession.

3. Manner of filing this Return Form
This Return Form can be filed with the Income Tax Department in any of the following ways, -
(i) by furnishing the return electronically under digital signature;
(ii) by transmitting the data in the return electronically under electronic verification code;
(iii) by transmitting the data in the return electronically and thereafter submitting the verification of the return in Return

Form ITR-V.

Filling out the acknowledgement ( Receipt of Income Tax Return)

Where the Return Form is furnished in the manner mentioned at 4(iii), the assessee should print out two copies of Form ITR-V.
One copy of ITR-V, duly signed by the assessee, has to be sent by ordinary post to Post Bag No. 1, Electronic City Office,

Bengaluru–560100 (Karnataka). The other copy may be retained by the assessee for his record.

BRIEF SCHEME OF THE LAW- Before filling out the form, you are advised to read the following Instruction -

(1) Computation of total income - Calculation of Total Income in this Year 2016-17

(a) “Previous year” is the financial year (1st April to the following 31st March) during which the income in question has been earned. “Assessment Year” is the financial year immediately following the previous year.
(b) Total income is to be computed as follows, in the following order:
(i) Classify all items of income under the following heads of income-
(A) Salaries; (B) “Income from house property”; (C) “Profit and gains from business or
profession”; (D) “Capital gains”; and (E) “Income from other sources”. [There may be no income under one or more of the heads at (A), (B), (D) and (E)].


(ii) Compute taxable income of the current year (i.e., the previous year) under each head of income separately in the Schedules which have been structured so as to help you in making these computations as per provisions of the Income-tax Act. These statutory provisions decide what is to be included in your income, what you can claim as an expenditure or allowance and how much, and also what you cannot claim as an expenditure/allowance. 

Set off current year’s head-wise loss(es) against current year’s head-wise income(s) as per procedures prescribed by the law. A separate Schedule is provided for such set-off.

(iv) Set off, as per procedures prescribed by the law, loss(es) and/or allowance(s) of earlier assessment year(s) brought forward. Also, compute loss(es) and/or allowance(s) that could be set off in future and is (are) to be carried forward as per procedures prescribed by the law. 
Separate Schedules are provided for this.

(v) Aggregate the headwise end-results as available after (iv) above; this will give you “gross total income”.


(vi) From gross total income, subtract, as per procedures prescribed by the law, “deductions” mentioned in Chapter VIA of the Income-tax Act. The result will be the total income. Besides, calculate agricultural income for rate purposes. 

Computation of income-tax, surcharge, education cess including secondary and higher education cess and interest in respect of income chargeable to tax.

(a) Compute income-tax payable on the total income. Special rates of tax are applicable to some specified items. Include agricultural income, as prescribed, for rate purposes, in the tax computation procedure.
(b) If income includes income of the nature referred to in section 115BBE, surcharge @25% on such income is chargeable. If total income exceeds Rs. 1 crore, calculate surcharge on (total income minus income chargeable u/s 115BBE) at the rate of 15%.
(c) Add Education cess including secondary and higher education cess as prescribed on the tax payable and surcharge thereon.
(d) Claim relief(s) as prescribed by the law, on account of arrears or advances of salary received during the year or of double taxation and calculate balance tax payable.
(e) Add interest payable as prescribed by the law to reach total tax and interest payable.

(f) Deduct the amount of prepaid taxes, if any, like “tax deducted at source”, “advance-tax” and “self assessment-tax”.The result will be the tax payable (or refundable). 

Obligation to file return

(a) Every individual and HUF has to furnish the return of his income if his total income before allowing deductions under section 10A or section 10B or section 10BA or Chapter VI-A (i.e., if his gross total income referred to in item 10 of Part B-TI as increased by item 6 of Schedule 10A, item f of Schedule 10A and item f of Schedule 10A of this Form) exceeds the maximum amount which is not chargeable to income tax [Rs. 2,50,000/- in case of individuals below the age of 60 years and HUF, and Rs. 3,00,000/- in case of individuals who are of the age of 60 years or more but less than eighty years at any time during the financial year, and Rs. 5,00,000/- in the case of individuals who are of the age of 80 years or more at any time during the financial year].

(b) The losses, if any, (item-18 of Part B-TI of this Form) shall not be allowed to be carried forward unless the return has been filed on or before the due date.


(c) The deduction under sections 10A, 10B, 80-IA, 80-IAB, 80-IB and 80-IC shall not be allowed unless the return has been filed on or before the due date. 

SCHEME OF THE FORM

The Scheme of this form follows the scheme of the law as outlined above in its basic form. The Form has been divided into two parts. It also has thirty-four schedules. The details of these parts and the schedules are as under:-

(i) Part-A has five sub-divisions as under Part A-GEN mainly seeks general information requiring identificatory and other data;

b. Part A-BS seeks the balance sheet as on 31st March, 2017;
c. Part A-P&L seeks information regarding the Profit and loss account for the financial year 2016-17;
d. Part A-OI seeks other information. It is optional in a case not liable for audit under section 44AB
e. Part A-QD seeks information regarding quantitative details of the principal item of goods traded. It is optional in a case not liable for audit under section 44AB.
(ii) The second part, i.e, Part-B is regarding an outline of the total income and tax computation in respect of income chargeable to tax..

(iii)After Part B, there is –

(a) A space for a statutory verification.
(b) A space for filling the details if the return has been prepared by a Tax Return Preparer.


(iv)There are 34 schedules details of which are as under-

(a) Schedule-S: Computation of income under the head Salaries.

(b) Schedule-HP: Computation of income under the head Income from House Property.
(c) Schedule-BP: Computation of income under the head “profit and gains from business or profession”.

(d) Schedule-DPM: Computation of depreciation on plant and machinery under the Income-tax Act.
(e) Schedule DOA: Computation of depreciation on other assets under the Income-tax Act.
(f) Schedule DEP: Summary of depreciation on all the assets under the Income-tax Act.

(g) Schedule DCG: Computation of deemed capital gains on sale of depreciate assets.

(h) Schedule ESR: Deduction under section 35 (expenditure on scientific research)
(i) Schedule-CG: Computation of income under the head Capital gains.
(j) Schedule-OS: Computation of income under the head Income from other sources.
(k) Schedule-CYLA: Statement of income after set off of current year’s losses
(l) Schedule-BFLA: Statement of income after set off of unabsorbed loss brought forward from earlier years.
(m) Schedule- CFL: Statement of losses to be carried forward to future years.
(n) Schedule- UD: Statement of unabsorbed depreciation.
(o) Schedule- ICDS: Statement of effect of income computation disclosure standards on profit.
(p) Schedule- 10A: Computation of deduction under section 10A.
(q) Schedule- 10AA: Computation of deduction under section 10AA.
(r) Schedule- 80G: Details of donation entitled for deduction under section 80G.
(s) Schedule- 80IA: Computation of deduction under section 80IA.
(t) Schedule- 80IB: Computation of deduction under section 80IB.
(u) Schedule- 80IC/ 80-IE: Computation of deduction under section 80IC/ 80-IE.
(v) Schedule-VI-A: Statement of deductions (from total income) under Chapter VIA.
(w) Schedule AMT: Computation of Alternate Minimum Tax payable under section 115JC.
(x) Schedule AMTC: Computation of tax credit under section 115JD.
(y) Schedule SPI: Statement of income arising to spouse/ minor child/ son’s wife or any other person or association of persons to be included in the income of assessee in Schedules-HP, BP, CG and OS.
(z) Schedule-SI: Statement of income which is chargeable to tax at special rates.
(aa) Schedule-IF: Information regarding partnership firms in which assessee is a partner.
(bb) Schedule-EI: Statement of Income not included in total income (exempt incomes).
(cc) Schedule-PTI: Statement of income from Business Trust or Investment Fund as per section 115UA,115UB.
(dd) Schedule-FSI: Details of Income accruing or arising outside India.
(ee) Schedule-TR: Statement of tax relief claimed under section 90 or section 90A or section 91.
(ff) Schedule-FA: Statement of Foreign Assets and Income
(gg) Schedule-5A: Statement of apportionment of income between spouses governed by Portuguese Civil Code.

(hh) Schedule-AL: Statement of your Asset and Liability at the end of the year. It is mandatory if your total income exceeds Rs.50 lakh


As under Read the Brief Description with Correct and simple method with Images to Know "How to Prepared ITR-3 for Online e filing Income tax Return 2016-17.

who is filed itr 3 Return Form :- Any assesses or taxpayer earn Main income in Rent Income or Partnership Firm Partner to earn Partner Remuneration, Partner Interest Income, Profit or Loss in partnership firm. this type assesses or taxpayer liable to filed itr 3 online return. Let’s start Know what is itr 3 and how to fill up and filed itr 3 online.

First Download itr 3 Excel utility software in excel file download.Click here to download Excel UtilityFile :- the open the excel file. You nee Microsoft word in 2007 for filed itr return. open the file you see the above in under title bar is Option, Click to option box and you see the two option, click on second option and Press Click on OK.then you see the one label in excel utility file.this process after active income tax software.Total 14 schedule in excel utility file.all assesses or taxpayer not compulsory fill up all schedule.but must be fill up necessary schedule. All schedule as per under with description.

Part A General  :- In Part-A is very Imported Column for all Taxpayer. Personal Information about assesses like Full name, PAN Number,Date of birth, Full address,City, District,State,Country,Sex,Pin Code, Registered email address, registered mobile no.,Status,Aadhar Card No.(if you have,),Income tax ward/circle/,Resident,all are fill up by assesses. if you have not  understand Please choose Option NO. Filed Return which section Always select this section- 11-on or before due date 139(1).,whether original or revise return?- If you filed this return in this year one time so please select original, if you filed return is second time in this same year please select Revised. if you select revised option to give Original return Acknowledgment no. and Filed Date. after completed fill up this schedule to click on validate.

Part B-TI-T TI :- This schedule is compulsory provide details by assesses.Bank Name, IFSC Code, Account Type, No.of Account, father’s name, assesses name, place,date,PAN No. This schedule is very imported by Print of acknowledgment receipt. after completed fill up this schedule to click on validate.

PART TI :- This schedule is provide details of self assessment tax or advance tax details.If any taxpayer or assesses paid advance tax or after income tax calculation paid a self assessment tax. provide details of Bank BSR Code,Date of Deposit,Serial no.of challan,Amount paid in bank. after completed fill up this schedule to click on validate.

TDS :- This schedule is provide details of Tax deducted in salary or other sources.like, if any assessee received rent in more than 1,20,000/- in a year. so, deducted compulsory deducted tax. Provide details as per form no. 16A or View 26AS credit ,TRACES . If any assessee deducted tax on salary, as per form no.16.Provide details of TAN No.of deducted, Name of employer or deductor,which income deducted or chargeable,total tax deducted amount. after completed fill up this schedule to click on validate.

TCS :- This schedule is provided details of Tax collection at sources. this schedule is not necessary for common or simple return.avoid this. after completed fill up this schedule to click on validate.

Salary :- This schedule is get details of Salary income. if assesses earn main income in salary give details of employers.like name of company., PAN no. of employers,Town,City,Pin Code, Gross salary income, as per your form no. 16  provide details about assesses salary and employers details. after completed fill up this schedule to click on validate.

House Property :- This schedule is get details of Income from house property, if assesses earn rent income from house,land,garden,etc.. in built land and construction called house rent income. assesses get details of tenant name,PAN no. address,gross rent income,Paid municipality tax , Housing loan interest amount,as per schedule get details.after completed fill up this schedule to click on validate.

Schedule BP :-  Any taxpayer or assesses invest a money or partnership firm started in India. Partnership Firm earn income and net profit to dividend to partner’s Remuneration, Partner’s Interest,Partner’s Capital,Partner’s Profit or Loss received or paid. etc.. Details give a this schedule like Partnership Firms PAN No.,Partners Received Salary,Commission,Remuneration received Details.,Partner’s Interest received on capital,Expenses if any Paid to partners etc.. give a details of any partnership firms earn or received income. As under see the image.

CG [Capital Gain] :- This schedule is get details of Capital Gains.we clarification about Two type of Capital Gains.1.Short term Capital Gains.2.Long term Capital Gains. any assesses or taxpayer join with business of Sales or purchase of share Securities,Bond,Govt.Bond,Debenture,Land and Building,House,Factory Shed,immovable properties treated all are in Fixed assets.here we are deeply clarification to how to calculated Capital Gains.Must be required documents of computation of Capital Gains. Purchase Date, Purchase Amount,Expenses details with date and year, Sales Date, Sales Amount, Buyers Name,PAN No. if Assets amount more than 6 Lakhs,Full address, As per Agreement. As per details required to computation of Short term or Long term capital gains.India’s Finance minister declare Index in budget. Index help to guide capital gains. This schedule get details of as per under.

Short term Capital Gains.: More details Visit here.

Long term Capital Gains :- More details Visit here.

Short term Capital gains :- Any assesses or taxpayer purchase or sale of any type of movable or immovable assets,Investment in securities, share purchase or sales, Mutual funds units, Gold,Silver,Govt.Bond,etc.... investment and earn income in one year. this type transaction treated a Shot term Capital Gains.Income tax Paid rate 15% on Short term Capital Gains.

Long term Capital Gains :- Any assesses or taxpayer purchase or sale or invest any type of movable or immovable assets,investment in securities, share purchase or sales , mutual funds unit, Gold, Silver, Govt.Bond,etc... investment in more than three year any type of fixed assets so this type transaction treated Long term Capital Gains.

As under shown Index for Calculation of Log Term Capital Gains. As Per Rules, As per criteria apply to calculate the Capital Gains.required a information to calculate the capital gains. Like, Purchase Date, Purchase Amount.Addition Expenses ( Date wise), Sales Date, Sales Amount, as per government announced a Index to correct system to calculate the Capital Gains. Government announced a Index is as under :

1981-82	100	1999-2000	389
1982-83	109	2000-01	406
1983-84	116	2001-02	426
1984-85	125	2002-03	447
1985-86	133	2003-04	463
1986-87	140	2004-05	480
1987-88	150	2005-06	497
1988-89	172	2006-07	519
1989-90	182	2007-08	551
1990-91	199	2008-09	582
1991-92	223	2009-10	632
1992-93	244	2010-11	711
1993-94	259	2011-12	785
1994-95	281	2012-13	852
1995-96	305	2013-14	939
1996-97	331	2014-15	1024
1997-98	351	2015-16	1081

Short term Capital Gains Calculation as under :- Any assesses or taxpayer buy or sale or any type of fixed assets or movable or immovable property, Securities, Trading of Share, Gold Ornament,Silver,Gold, Mutual Fund Units,etc...buy and sale same year. this type transaction treated short term capital gains or short term Profit. This type earn Short term Profit in income tax Flat rate is 15%. other deduction not allowed to short term profit.

Long Term Capital Gains Calculation as under :- Any assesses or taxpayer buy or sale or any type of fixed assets or movable or immovable property, Securities, Trading of Share, Gold Ornament,Silver,Gold, Mutual Fund Units,etc...buy this year and sale after three year. this type transaction treated Long  term capital gains or Long  term Profit. This type earn Long term Profit in income tax Flat rate is 20%. other deduction not allowed to short term profit.But Income tax department announced scheme in when assesses or taxpayer sales of movable or immovable property and then invest in other property to get benefit of investment amount in capital gains. after completed fill up this schedule to click on validate.

Know Agricultural Land Rules is Click here :-

Schedule OS :- OS means other sources of Income, any people earn income from not treated in above head to this type earn income is other sources income like Bank Interest, F.D.Interest, Commission,Brock rage, Share Dividend, Bank Share Dividend,Brokerage (Dalali),etc..treated Other sources income. this schedule introduce the this type of income type here. after completed fill up this schedule to click on validate.

 

Schedule CYLA-BFLA :- This schedule is introduce to any taxpayer or assesses earn income but sometimes assesses received  a loss in business or other fixed assets to this type of loss carried forward to next year because next year deduction in earn total income. this type of loss received to add year. after completed fill up this schedule to click on validate.

Schedule CFL :-any assesses or taxpayer or Partnership Firm, Proprietary Firm received a loss in past any year please write here year and amount. after completed fill up this schedule to click on validate.

 See the As Under Image :-

Schedule 80G :- any assesses or taxpayer paid a amount in donation and get receipt of donation with PAN no. give a Compulsory to get this benefit in income tax return. If any assesses or taxpayer Paid a Donation amount above 10,000/- to Compulsory Paid a Cheque or D.D. any people donate amount in colleges, Trust, University,etc.. religions place or education donation to get PAN No. and full address with Certificate of 80-G. This donation deduction in 50% or Gross incomes 10% both are high value deduction in income tax. after completed fill up this schedule to click on validate.

 More Details Click here Income tax deductio under Chapter VI-A
 

Schedule VIA :-  any assesses or taxpayer invest or expense to many expenses deduction in income tax. as under see the every section.taxpayer paid a Lic Premium,Tuition Fee, Education Loan Interest,Housing Loan Interest,Mediclaim, Infrastructure Bond,invest in NPS Scheme, Sukanya Yojana,Rajiv Gandhi Equity Saving Scheme, Provided Fund,Public Provident Fund,Graduaty, etc.. expenses allow to deduction in income tax. income tax deduction limit is A.Y.2015-16 is 1Lakhs but now increase this limit to 1.5Lakhs + National Pension Scheme invest in 50,000/- =1,50,000/- + Paid Mediclaim Premium Limit of 25,000/-= Total Deduction limit of 1,75,000/-. See the as under image :-

 Click here Know More Details Income tax Deduction Under Section VI-A
Scheudle SPI-SI :- any assesses or taxpayer earn income from Spouse income or Minor children earn income to assesses shown here. if assess wife not allotted a PAN No. to spouse income treated taxpayers (husband) income to shown here. after completed fill up this schedule to click on validate.

Schedule EI :- any assesses or taxpayer earn income but some income exempt in income tax like Share Dividend (only Listed or Non-listed Companies share), Bank Interest, paid Share Transaction Tax, Long term Capital Gains Paid securities transaction tax, Central government Paid Tax, exempt in this schedule. after completed fill up this schedule to click on validate.

Schedule PTI :- any assesses or taxpayer joint to carry invest in business or trust fund to give a details of  like Total fixed assets value, House property value,PAN No. of Business trust or Investment Funds. As Per see the below Images :-

Schedule FSI :- any assesses or taxpayer earn income from outside in India. any people job in out of India and earn from Salary, House Rent,Business sharing profit, Capital gains,Share trading, etc... give a details like Country Code, Taxpayer Identification Code, and which type earn income head, as per see the below image :-

Schedule TRA_FA :- any assesses or taxpayer earn income from outside in India give as under details of Bank accounts, fixed assets, business details, This schedule is made by any assesses or taxpayer a NRI or earn income from outside in India to give a details as under the :-

Details of Tax relief claimed

Details of foreign assets and income from any sources outside in India.

Details of financial interest in any entity held at any time during the previous year.

Details of immovable property held at any time during the previous year.

Details of any other Capital held assets at any time during the previous year.

Details of accounts in which you have signing authority held at any time during the previous year.

Details of trust,create under the laws of a country outside in India in which you are a trustee beneficiary or settler.

Details of any other income derived from any source outside India.which is not include in item, Income under the head business or profession.

 As below see the image

Scheudle AL :- any assesses or taxpayer earn yearly income above 50Lakhs or Total assets or liability above 50Lakhs to give a details immovable property like, House, land,Building, etc.. involve in definition of immovable property or movable property like jewelry,Vehicle,Boat,aircraft,Cash in hand,etc.. involve in  definition of movable property

Scheudle SCH5A :- any assesses or taxpayer not compulsory this schedule if this schedule is Portuguese civil code in spouse income in governed.

after completed fill up this schedule to click on validate.

all are process completed after know how to Calculate Income tax.

How to Calculate income tax in Excel Utility Software :- All assesses or taxpayer fill up Excel utility software in all schedule then most of question how to process to Calculate the income tax and How to Generated XML File. now, we are started lean calculate income tax. first assesses come to Schedule of  PART A-General and see the right side 9 types button. See the Calculate button on click the process start to calculate income tax. See the Income tax calculation

Income tax calculate  if payable income tax to Download Income tax Challan 281 if not payable to income tax to start Generated XML file Process. any assesses or taxpayer learn to how to generated XML file in excel utility software.we are started learn to Generated XML file.First Come to Schedule of  PART-A General and see the right side 9 types button. see the Generated XML button on Click the process start to Generated XML file.

where is  Generated XML file in Computer/Laptop :-  all assesses  or taxpayer create a if generated XML file so where is  XML file in computer or laptop. First you think all  assesses or taxpayer to where is download excel utility file in computer or laptop. then there is same place generated XML file in name of your PAN No. Like File name is AAAAA0987A.xml. This is your XML file.

How to Upload XML file In Income tax Department. Click Here : Upload Income tax return online

Know Your Jurisdiction Code  know your Jurisdiction Code

Register Your PAN No. in Income tax Site :- Register Your PAN For e filing Income tax return 

Useful Links :-

GST in Gujarati

 

GST In English

Income Tax Related Links :- 

• ITR-1
• ITR-2
• ITR-3
• ITR-4
• ITR-4S
• ITR-5
• ITR-6
• ITR-7

About Author :Ketankumar Accountingwale

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