Key Points
These forms are applicable for the assessment year 2024-25, and it is important for specific taxpayers to be aware of the details associated with filing using these forms...
Not eligible to file ITR-1.Individuals or HUFs without income from the profit and gains of business or profession, and no income in the nature of interest, salary, bonus, commission, or remuneration from a partnership firm.Those having income from another person, like a spouse or minor child, to be clubbed with their own income...
Inclusion of Legal Entity Identifier (LEI) details.Details of contributions made to political parties if claimed, including date, mode of payment, and transaction details.Details of deductions for the maintenance, including medical treatment, of a dependent with a disability (Type of dependent, PAN, Form 10IA details).Individuals or HUFs required to undergo tax audits can now verify ITR with EVC, which was previously possible only through DSC (Digital Signature Certificate)...
documents demonstrating incurred losses during the current year or previous years.Also, collect supporting documents (e.g., insurance, donation, rent, tuition fee receipts) for tax deductions under sections 80C, 80D, 80G, 80GG, especially if they weren't considered in your Form 16.. ITR-3 filing requirements..
According to FAQs published by the Income Tax Department, ITR-3 is to be used by entities, including individuals or HUFs, having income under the head "profits or gains of business or profession" and are ineligible to file Form ITR-1, ITR-2, or ITR-4..
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