2 days ago
Tax return deadline nears: ITR-3 and ITR-4 details
The tax website fills in many details to help people complete their returns.
These details can include salary, interest, dividends, bank accounts and taxes already paid.
People filing ITR-3 or ITR-4 must check that the information is correct.
They may need to add business income, expenses, deductions, capital gains or foreign income themselves.
ITR-3 users should carefully review business accounts, investments and losses.
ITR-4 users should confirm that they qualify for the form and that their turnover and presumptive income are right.
If the AIS has a mistake, taxpayers should report it through the AIS portal instead of copying the mistake.
They should also check the full return preview before submitting it.
Non-audit taxpayers have until 31 August to file ITR-3 or ITR-4 for AY 2026-27.
The portal pre-fills personal details, bank information, tax regime, income and tax-credit data.
Taxpayers must manually verify business figures, deductions, capital gains, losses and other income.
Incorrect or duplicated AIS entries should be disputed separately with supporting documents.
Before filing, taxpayers should review the complete return, refund account and selected tax regime.
- Who
- Non-audit taxpayers filing ITR-3 or ITR-4, with guidance from Siddharth Maurya, Managing Director of Vibhavangal Anukulkara.
- What
- Taxpayers are being advised to cross-check pre-filled details and complete missing or incorrect information before filing their returns.
- Where
- Returns are prepared on the Income Tax Department’s e-filing portal, while AIS discrepancies can be disputed through the AIS portal.
- When
- The filing deadline mentioned is 31 August for assessment year 2026-27.
- Why
- To ensure income, deductions, tax credits, bank details and other information are accurate before submission.
Key facts
- Applicable forms
- ITR-3 and ITR-4
- Assessment year
- 2026-27
- Deadline
- 31 August for non-audit taxpayers
- Pre-filled sources
- Form 26AS, AIS, TIS, TDS returns and reports from employers, banks, companies, mutual funds, brokers and other reporting entities
- Manual ITR-3 checks
- Schedule BP, capital gains, depreciation, brought-forward losses, house property, foreign assets and Chapter VI-A deductions
- Manual ITR-4 checks
- Turnover or gross receipts, cash and digital receipts, presumptive income, business details, GST information and unreported income
- Uneditable profile data
- Certain identity details, including PAN, cannot be changed during return preparation and must be corrected through relevant PAN, Aadhaar or e-filing profile records
Quotes
Siddharth Maurya
Managing Director of Vibhavangal Anukulkara, quoted on reviewing pre-filled capital-gains information.
“Certain identity-related details, such as PAN, correspond to the taxpayer’s registered profile and cannot be altered during the preparation of return filings. If the name, date of birth, address or contact details are incorrect, the taxpayer must update the relevant PAN, Aadhaar or e-filing profile records.”
livemint.com
“In ITR-3, sales of shares or mutual funds may be pre-filled based on broker-reported or AIS data. However, taxpayers should consider acquisition cost, expenses, holding period and transaction classification before determining the taxable income.”
livemint.com
Sources
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