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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 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.
Online filing for ITR-3 is finally enabled. The Excel utility for the ITR Return Form 3 FY 2025–26 was released by the Income Tax Dept. 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
| Category | Due Date |
|---|---|
| Non-audit cases | 31 August 2026 |
| Audit cases | 31 October 2026 |
| Belated Return | 31 December 2026 |
| Revised Return | 31 March 2027 |
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View Comments
Regularly Trading of Gold & Silver ETF during FY 2025-26 559 Buy & 559 sell all buy & sell executed with a week max 111 days, having some closing stock in is eligible under which code in Business & Profession in ITR3?
Answer: Business Code 21011 – Buying and Selling of Shares (Delivery-Based Trading as Business Income) regards Rajput Jain and associates