Answer

ITR

Filing ITR-3 online or with the offline utility

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  1. Facts

    ITR-3 can be prepared online on the e-Filing portal or in the offline utility that generates a JSON file for upload. Prefilled data comes from AIS, Form 26AS (now Form 168) and earlier returns.

  2. Provisions and law

    • Sec 139(1), Income-tax Act 1961 (now Sec 263(1), Income-tax Act 2025)Return due date: 31 July for most individuals, 31 August for non-audit business or profession, 31 October for audit cases
    • Sec 28, Income-tax Act 1961 (now Sec 26, Income-tax Act 2025)Profits and gains of business or profession are taxable

  3. Analysis

    The offline utility is easier for long P&L and balance sheet schedules. Example: a trader with many expense heads prepares ITR-3 offline, validates it, uploads the JSON and e-verifies. Check prefilled data against your records, because it may not include all broker details.

  4. Conclusion

    1. Download the prefilled JSON from the portal
    2. Prepare ITR-3 online or in the utility
    3. Validate all schedules
    4. Upload, pay any tax and e-verify

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Business or professional income return, ITR-3 (including F&O and intraday)

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