INCOME TAX

fy 26-27 Rs. 892000 credited in my account out of which 270000 from business 300000 from remuneration and 322000 from sale of ancestor land. My question is how to show it in ITR-3, so that I do not have to pay tax. I am filling IT return because I have some TDS return. so please sir help me

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Quick Summary
This discussion explains how to accurately report various income sources in an ITR-3 form to potentially avoid paying income tax. It covers detailing business income, salary/remuneration, and capital gains from land sales, ensuring each is declared in the correct section. Proper disclosure is key to achieving a zero tax liability and facilitating a TDS refund.

  • Report the ₹2,70,000 business income and ₹3,00,000 remuneration under Income from Business or Profession (or Salary if employment-based).

  • Report the ₹3,22,000 land sale under Capital Gains (ensure exemption if it qualifies as rural agricultural land).

  • Disclose all figures accurately in ITR-3 so that your net tax liability comes to zero, enabling a smooth TDS refund.

A partial business income,  a part remuneration, a part capital income. 

Disclosure separately.

 

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