File ITR-3 in the software for AY 2020-2021 Using Different Cases/Scenarios

There are three major scenarios while filing ITR-3 in the software :

1st Case:

If the user has only one business, then he is required to provide the details of his profit and loss ration under the respective business head (Ordinary, Speculation or Specified).

Once the details are provided for the same, the P&L and BS has to be accordingly provided under Transaction >> General information BS /P&L.

2nd Case:

If the user has 2 or more business details, he is required to provide the business details separately using the Add button under Business and Profession Income under respective business heads (Ordinary, Speculation or Specified). But the P&L details and Balance sheet details are to be provided as Consolidated.

I.e summation of all the business profit and loss and balance sheet maintained.

3rd Case:

If the user is having 2 business, one is ordinary and the other one is presumptive then the details for P&L and BS remain the same as in 1st case. But for the other business which is presumptive there is no need to provide the details for P&L instead the user has to add the same business under Ordinary with the profit or loss ratio and has to disallow the same profit or loss ratio under Expenses.

Also Message shown in software also.

            

            

Also the Process in given in application:

      

            

This will helps.

• Related Articles

• Zen IT || ITR-4 Data Entry Procedure

  Flow for Entering Information under Section 44AD, 44AE, and 44ADA for ITR-4 Filing When filing ITR-4 for presumptive income under Sections 44AD, 44AE, or 44ADA, follow these steps to ensure all mandatory details are entered accurately in the ...

• Express ITR || Steps to Import Capital Gain Data Using Excel

  Steps to Import Capital Gain Data Using Excel Step 1: Access the Client Profile Open the client’s profile in the Express ITR application. Navigate to the ITR Summary section within the profile. Click the button under Return Flow to open the relevant ...

• Express ITR || How to Import 3CD Data Using excel

  Excel Import Process for 3CD Data The Excel import process helps you fill out specific clauses that require detailed information and annexures. For other clauses, manual data entry into the software is required. Please follow the steps below to ...

• ExpressITR || How to Import Schedule III Data Using excel

  Steps for Importing Schedule III Data Using Excel in Express ITR Step 1: Navigate to the 'Prepare' section, click on the 'Business and Profession' head, and open 'Schedule III'. Step 2: Click on the 'Import' button and select 'Click here to Download ...

• DEBT Mutual fund data entry Process

  Regarding this You are requested to click on Help Button in Capital Gain Window.              Excel sheet is opened with > Entries of Capital Gain in Different Groups with Different Cases. DEBT Mutual fund data entry is given below.              Hope ...