ITR for Business Income: 5 Forms You Must Know

If you run a business or earn professional income, picking the wrong ITR form can get your return rejected. Here's a plain-English guide to ITR-3, ITR-4, and the supporting forms you need before 31 August.

Here's what happened: The ITR filing deadline for most taxpayers is 31 August 2025; business and professional taxpayers who need a tax audit get until 31 October 2025.. Taxpayers with business or professional income must choose between ITR-3 (full books) and ITR-4 (presumptive scheme) based on turnover and how income is computed.. Supporting forms like Form 26AS, AIS, TIS, and audit report Form 3CD must be reviewed and reconciled before filing to avoid defective return notices..

What you should do: Check your total turnover or gross receipts first — if it exceeds ₹3 crore (business) or ₹75 lakh (professionals), opt out of presumptive taxation and file ITR-3 instead of ITR-4.. Download your AIS and Form 26AS from the income tax portal and match every TDS credit, interest income, and property transaction before you fill any form.. Confirm with your CA whether a Section 44AB tax audit applies to you — if yes, ensure Form 3CD is ready before the 31 October audit deadline, not the 31 August general deadline..

If you opted for presumptive taxation (ITR-4) this year, you must stay in the scheme for 5 consecutive years — opting out early locks you out of presumptive taxation for the next 5 years.

For readers weighing their credit and loan options, our personal loan guide and CIBIL score resources put this update in context.