banner_ad

Which ITR form required ?

ITR 848 views 4 replies

if I am owning a cab and driving it myself in ola and uber, then can I use itr 3 to declare the income as a business income ?

Replies (4)

Using ITR-3 for Cab Income If you're owning a cab and driving it yourself on platforms like Ola and Uber, you can use ITR-3 to declare your income as business income.

ITR-3 is applicable for individuals and HUFs having income from: - *Business or Profession*: Income from self-employed business or profession. - *Other Sources*: Income from other sources, like interest or dividends. Key Considerations - *Business Income*: 

Your income from driving a cab can be considered business income, eligible for ITR-3 filing. - *Expenses*: You can claim expenses related to your cab business, such as fuel, maintenance, and insurance, to reduce your taxable income. - *Depreciation*: You may also claim depreciation on your cab. Recommendations - 

*Maintain Records*: Keep accurate records of your income and expenses to support your ITR-3 filing. - 

*Consult a Tax Professional*: Consider consulting a tax professional to ensure you're taking advantage of all eligible deductions and following the correct filing procedures

where to report insurance expenses ? in the deductions section ?

Quantum of income is important. 

 

Nature of work/source from which income os derived.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details