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The Income Tax Department has updated the Income Tax Return (ITR) utility with new codes under the “Nature of Business/Profession” section to align with evolving sectors and taxpayer activities. These changes are applicable for Assessment Year 2025–26. The Tax Dept has updated the ITR-3 utility with new Nature of Business/Profession codes to reflect the growth of emerging sectors such as online trading and digital content creation. Following Key New Codes Introduced:
09029 – Commission Agents (Kachcha Arahitya)
16021 – Social Media Influencers
21009 – Speculative Trading
21010 – Futures & Options (F&O) Trading
21011 – Buying and Selling of Shares
Taxpayers and professionals must select the correct business/profession code while filing ITR to Ensure accurate classification of income. Avoid notices or scrutiny due to mismatched data & Facilitate seamless ITR processing by the Income Tax Department. Selecting the appropriate code ensures:
Proper classification of income
Faster and more accurate ITR processing
Reduced risk of tax scrutiny or mismatches
If Taxpayer you’re engaged in trading, influencing, agency work, or any newly categorized profession, please review your ITR forms carefully and choose the appropriate code. Need help with code selection or ITR filing for AY 2025–26? Feel free to reach out.
The ITR-3 is applicable to individuals and Hindu Undivided Families (HUFs) who earn income from a business or profession, including both tax audit and non-audit cases. Filing the correct ITR form ensures faster processing and reduces the risk of notices from the Income Tax Department.
Who is eligible to file ITR-3 : Individuals and Hindu Undivided Families are required to file ITR-3 if they earn income from:
Eligible Assessees Include:
Individuals/HUFs carrying on a proprietary business or profession
Those receiving remuneration, interest, or commission from a partnership firm
Individuals with income from multiple sources, such as:
Salary or pension
House property
Capital gains
Other sources (e.g., interest, dividends)
Ineligible persons include:
Entities other than individuals and HUFs (e.g., companies, LLPs, AOPs, etc.)
Individuals or HUFs not earning income from business/profession or partnership firms
Taxpayers eligible to file under ITR-1 (Sahaj), ITR-2, or ITR-4 (Sugam) based on their income profile
Note: If you’re eligible to file ITR-1, ITR-2, or ITR-4, you should not file ITR-3.
For Non-Audit Cases: 15th September 2025 (extended from 31st July 2025)
For Audit Cases (u/s 44AB): 31st October 2025
After 121 Days into FY 2024–25, Online Filing for ITR-3 is finally enabled. The Excel utility for income tax return Form 3 AY 2025–26 was released by the Income Tax Dept on July 11, 2025, nearly 100 days after the commencement of the income tax return filing season. Now, with both online and offline (Excel/Java) utilities available, Income taxpayers can finally file ITR-3 online on the official e-filing portal. This is significant for those:
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