Compliance Alert: Freelancers, Contractors, and Sole Proprietors must file ITR-3 or ITR-4. Filing the incorrect form (like ITR-1) will result in a defective return notice.
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Presumptive (ITR-4)

Ideal for Freelancers, Doctors, and Small Businesses (Turnover < ₹3Cr / Gross Receipts < ₹75L).

₹1,499 / year
  • Filing under Sec 44AD / 44ADA
  • No requirement of books of accounts
  • Claim flat 50% expenses (Professionals)
  • Dedicated CA Assigned

Regular Business (ITR-3)

For growing businesses that maintain books of accounts or need to carry forward losses.

₹2,999 / year
  • Preparation of Basic P&L and Balance Sheet
  • Actual Business Expense Claims
  • Carry Forward of Business Losses
  • Review of 26AS / AIS / TIS
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Understanding Business Taxes

It's critical to choose the correct filing scheme to avoid defective returns and tax notices.

The Presumptive Scheme (Section 44AD/ADA)

Designed by the government to relieve small businesses and professionals from maintaining extensive books of accounts.

  • For Professionals (44ADA): Declare 50% of gross receipts as profit (Max limit: ₹75 Lakhs).
  • For Businesses (44AD): Declare 6% (digital) or 8% (cash) of turnover as profit (Max limit: ₹3 Crores).

When is Audit Required?

If your turnover exceeds certain thresholds, filing ITR-3 with a Tax Audit (by a practicing CA) becomes mandatory:

Digital Businesses: If 95% of receipts & payments are digital, audit limit is ₹10 Crores.
Cash Businesses: If cash transactions exceed 5%, audit limit is ₹1 Crore.
Claiming Lower Profits: Audit is required if you claim profits lower than the presumptive scheme (e.g., lower than 6%).
Compliance Calendar

Income Tax Deadlines

Missing the deadline attracts a penalty of up to ₹5,000 under section 234F and prevents carrying forward of losses.

Non-Audit Cases

31st July

Standard Filing Deadline

For most proprietors and freelancers filing ITR-3 or ITR-4 where Tax Audit is NOT applicable.

FY 2024-25: 31 July 2025

Audit Cases

31st October

Tax Audit Deadline

For proprietorships whose turnover exceeds the threshold and require a CA Tax Audit report.

FY 2024-25: 31 Oct 2025

Required Documents

Simply upload these to your secure ApkaFiling portal and our team will handle the computation.

Bank Statements

From April 1 to March 31 for all business/personal accounts.

Sales/Turnover Data

Total receipts or invoices generated during the year.

Form 26AS / AIS

To verify TDS deducted by clients and reconcile income.

Expense Details

(Only for ITR-3) Summary of business expenses/purchases.

Books Not Maintained Properly?

If you need to file ITR-3 but haven't maintained your ledgers or profit & loss statement, our accounting team can construct your financials from scratch.