The Income Tax Return Form 3 (ITR-3) in India is designed for individuals and Hindu Undivided Families (HUFs) who have income from a business or profession. Unlike ITR-4, it is not limited to presumptive taxation schemes and is suitable for taxpayers with more complex income sources.

Documents Needed
1. Your Permanent Account Number (PAN) is crucial, as it serves as your unique identifier in the tax system.
2. An Aadhaar Card is also necessary, providing a means of verifying your identity and linking your tax records.
3. You must include your bank account information, specifically your account number and the IFSC code, to facilitate any potential refunds or transactions.
4. If you are a salaried individual, Form 16 is important to include, as it summarizes your earnings and the tax deducted at source (TDS).
5. It is essential to gather details regarding your investments, as these can impact your taxable income and potential deductions.
6. If you operate a business or have professional income, you will need to prepare and present your books of accounts to substantiate your earnings.
7. Ensuring that all these documents are organized and readily available will significantly enhance the efficiency and ease of the ITR filing process.
Being well-prepared can help you avoid delays and complications, allowing for a smoother experience when submitting your return. Taking the time to compile these documents in advance will contribute to a more streamlined and effective tax filing procedure.

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Key Due Dates
Filing Due Date (non-audited cases): 31st July of the assessment year.
Tax Audit Cases:
Filing due date: 31st October of the assessment year.
Report submission under Section 44AB: 31st October.

Penalties for Non-Filing
Late Filing Fee under Section 234F:
₹1,000 if total income is less than ₹5 lakh.
₹5,000 for income above ₹5 lakh.
Interest under Section 234A: 1% per month on unpaid tax.