Now Reading: ITR-3 enabled for e-filing: Income Tax form covers business and professional income earners, administrators, and merchants— key things to know before filing for AY 2025–26
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ITR-3 enabled for e-filing: Income Tax form covers business and professional income earners, administrators, and merchants— key things to know before filing for AY 2025–26
ITR-3 enabled for e-filing: Income Tax form covers business and professional income earners, administrators, and merchants— key things to know before filing for AY 2025–26
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The Income Tax Department has enabled on-line filing for ITR-3 on its e-filing portal for Assessment Year 2025–26 (Financial Year 2024–25), easing return submissions for people with income from share buying and selling (together with F&O), business ventures, and investments in unlisted shares. The division introduced on July 30, 2025: “Kind Attention Taxpayers! Income Tax Return Form of ITR-3 is now enabled for filing by on-line mode.”Who ought to file ITR-3 According to Central board for direct Taxes (CBDT) ITR-3 is supposed for people or Hindu Undivided Families (HUFs) who earn income from business or professional actions. Thus, ITR-3 is filed by these having Business income and are:
- Company administrators
- Investors in unlisted fairness shares
- Individuals with capital good points or international income
- Partners in companies
- Those incomes above Rs 50 lakh, additionally having business income.
- Residents and non-residents with a number of income sources
- Individuals with wage, property income, or pension
- Business professionals ineligible for ITR-1, ITR-2, or ITR-4
Key updates in ITR-3 for AY 2025–26A CA quoted by ET listed out few main adjustments to word whereas filing ITR-3 for AY 2025-26. They are-
- Mandatory choice for Form 10-IEA (new tax regime affirmation)
- Revised
capital good points reporting , together with break up disclosures for good points pre- and post-July 23, 2024 - Separate indexation disclosures for resident taxpayers
- Higher reporting threshold for property and liabilities (Rs 1 crore and above)
- Inclusion of Section 44BBC (relevant to cruise operations)
- Detailed reporting of dividend income
- Specific therapy of capital loss on share buybacks
Additionally, filers should now present extra granular disclosures on TDS sections and deductions.
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