Post Date: 30 July, 2025
ITR-3 Filing Now Open for AY 2025-26: The Income Tax Department has started e-filing for ITR-3 for the Assessment Year 2025-26 (Financial Year 2024-25). This form is meant for individuals and Hindu Undivided Families (HUFs) who earn income from a business or profession. It is also required for those involved in share trading, including Futures and Options (F&O), or holding unlisted shares.
ITR-3 Filing Now Open for AY 2025-26
Partners in a firm must also use ITR-3 to file their income tax returns. If you fall under any of these categories, you can now file your return online through the official income tax portal. Make sure to collect all necessary documents and file before the due date to avoid penalties. Filing ITR-3 on time helps you stay compliant and keeps your financial records in order.
Who Must File ITR‑3?
- Applicable Cases
- Income from business or profession
- Share trading (futures & options)
- Proprietorship business (not under presumptive scheme)
- Partnership income or professional fees
- Investments in unlisted shares
For AY 2025‑26, key professions-including influencers, commission agents, and F&O traders – now have distinct codes updated in ITR‑3 and ITR‑4 utility forms.
What’s New in ITR‑3 AY 2025‑26?
- Split Reporting of capital gains before and after 23 July 2024 aligns with new tax rules.
- Losses from share buybacks can be claimed only if accompanied by declared dividend income (from Oct 1, 2024 onwards).
- Asset/liability disclosure threshold raised to ₹1 crore total income.
- Section 44BBC added for cruise ship operators under presumptive scheme.
- Mandatory section-code declaration for TDS schedules and enhanced reporting for deductions like 80C/10(13A).
ITR‑3 Excel Utility v 1.1
- Fixes major validation bugs and formula errors.
- Enhanced auto-check functions for depreciation, partner details, and audit entries.
- New tweaks in Schedule BP (business/profession) and IF (partner information).
Filing Deadline for ITR-3 AY 2025‑26
- Non‑audit taxpayers: 15 September 2025
- Audit-required cases: 31 October 2025
- Revised/belated returns: Accepted until 31 December 2025
Avoid Common Mistakes
- Filing wrong ITR form (use ITR‑3 if business/professional income exists)
- Ignoring capital gains split or buyback disclosures
- Not enabling macros before using Excel utility
- Not validating vs. AIS/Form 26AS data
- Failing to report TDS section code
How To Fill The ITR-3 Filing For AY 2025-26?
- Visit the official website incometax.gov.in
- Go to: E-File → Income Tax Return
- Select: AY 2025–26 and choose ITR-3
- Choose: Excel Utility v1.1 or Online Mode
- Fill details: Business/professional income, salary, capital gains, unlisted shares
- Enter audit info (if applicable)
- Claim deductions (80C, 80D, etc.)
- Validate & generate XML (for utility)
- Upload and submit the return
- e-Verify within 30 days via Aadhaar OTP, bank login, or ITR-V
For more information and filing assistance, visit the official Income Tax portal.
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