ITR-3 Utility Updated: New codes added Under "Nature of Business/Profession":

ITR-3 Utility Updated: New codes added Under "Nature of Business/Profession" The Income Tax Department has released the Income Tax Return (ITR) utility new codes under "Nature of Business/Profession" to improve developing sectors and activities. Important additions are the following:

• 09029 - Commission agents- Kachcha Arahitya
• 16021 – Social Media Influencers
• 21009 – Speculative Trading
• 21010 – Futures and Options Trading
• 21011 – Buying and Selling Shares

Also Read

ITR-2 and ITR-3 Excel Utilities Released for AY 2025-26: Know What is New

The Income Tax Return (ITR) added by advising Taxpayers and experts must choose the right business/profession code while filing ITR to ensure correct classification of income for AY 2025-26. Avoid notices and surveys due to mismatched data and provide smooth ITR processing by the Income Tax Department. By Selecting the appropriate code, it will ensure the following:

• Quicker and correct ITR processing
• Less risk of tax survey or mismatches
• Proper classification of income

Who is eligible to file ITR-3?

The ITR-3 form is used by individuals and HUFs who have income from business or profession. This also includes freelancers, professionals, and partners in a firm (but not LLP owners). Following are eligible to file ITR-3:

• Individuals/HUFs who run a business or profession
• Those receiving remuneration, interest, or commission from a partnership firm
• Individuals with multiple income from multiple sources, such as Salary, pension, house property, etc.

Also Read

Filed ITR and Received Refund Immediately: CA Praises Income Tax Department for Timely Refund

New 'Nature of Business/Profession' codes are as follows:

Sector	Sub-sector	Code
Wholesale / Retail Trade	Commission agents- Kachcha Arahita	09029
Profession	Social Media Influencers	16021
Other Services	Speculative trading	21009
Other Services	Futures and Options trading	21010
Other Services	Buying and Selling Shares	21011