Income tax dept has released ITR Form 3 for the financial year 2020-21. According to the department, the remaining ITR forms will also be released soon. Earlier in July, the department updated the ITR1 and ITR4 forms for calculating sections 234B, 234C and 234A.
According to the Income Tax Dept, ITR 1, 2, 3 and 4 for AY 2020-21 were made available for e-filing (ITR E filing) which can be downloaded to Excel or Java utility . While other ITRs will be available in a short time. ITR 3 Form is for the use of people and HUFs who are earning from the profits or gains of business or profession.
It is to be noted here that ITR Form 3 is required to be filled for every taxpayer. It can also be filled electronically or online.
CBDT has made all the forms for Assessment Year (AY) 2020-21 available only to those who wish to file ITR1, ITR2 and ITR4 for AY 2020-21 (assesment year 2020-21).
Due to Kovid-19 ( COVID-19 ), the date of filing ITR for the financial year 2020-21 has been increased from 31 July to 30 November 2020. You will get information on how to fill this form without mistake, how to fill ITR Form 3 on www.incometaxindiaefiling.gov.in . So you can take help from here to fill the online form.