TL;DR* Here's what the license entails:
1. Anyone can copy, modify and distribute this software.
2. You have to include the license and copyright notice with each and every distribution.
3. You can use this software privately.
4. You can use this software for commercial purposes.
5. If you dare build your business solely from this code, you risk open-sourcing the whole code base.
6. If you modify it, you have to indicate changes made to the code.
7. Any modifications of this code base MUST be distributed with the same license, GPLv3.
8. This software is provided without warranty.
9. The software author or license can not be held liable for any damages inflicted by the software.
More information on about the LICENSE can be found here
@shubhh123 , My reading of the GPL3 LICENSE is that you only need to open source YOUR VERSION of the open source code that you use in the application, including any modifications you made to IT. Your program may well include other code that you developed and even code that invokes part or all of the open source code you included (and potentially modified), but you do NOT have to make that other code open source. So, no, NOT the entire application, ONY the open source code that you included in the application (plus the modifications you made to IT).
Disclaimer: I am not a patent attorney.