The ITR-3 Form is only applicable to those persons and Hindu Undivided Families who have income from doing proprietary business or a profession. If an Individual/Hindu United Family is having income as a partner of a partnership firm that is doing business/profession are required to file ITR-2, he cannot file ITR-3 in this case.
All taxpayer that are filing ITR-3 form, required to have a tax audit, required to file ITR-3 form using a digital signature. The person or entity filing ITR-3 form using the third method, need to complete the acknowledgment in ITR-V return form. Once ITR-V is prepared, the assessee should take out the print out (two copies) of Form ITR-V. Duly signed by the assessee (person or entity) the copy of ITR-V has to be sent to Post Bag No. 1, Electronic City Office, Bengaluru–560100 (Karnataka). The other copy can be kept as a record.
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