New ITR Update: Income Tax Dept. Introduces ITR Utility New Codes:

The Income Tax Department has introduced ITR utility new codes under "Nature of Business/Profession" to enhance its developing sectors and activities under ITR-3.

IT Dept Releases New Code Under "Nature of Business/Profession"

Vanshika verma

Jul 26, 2025

Last update on Jul 26, 2025

New ITR Update: Income Tax Dept. Introduces ITR Utility New Codes ITR Utility Update: The Income Tax Department has introduced the Income Tax Return (ITR) utility new codes under "Nature of Business/Profession" to enhance its developing sectors and activities. The IT Dept. has advised taxpayers and professionals to prefer the correct Business/Profession code while filing the ITR to make sure of the correct classification of income for AY 2025-26.

Who can file ITR-3?

The ITR-3 is used by individuals and HUFs who have income from business or profession. This includes freelancers, professionals, and partners in a firm but not LLP owners.

What's New Update:

The Income Tax India has introduced new codes under "Nature of Business/Profession, which will ensure the Fast and correct ITR processing, Less risk of tax survey or mismatches and proper classification of income. Followings are the new codes under "Nature of Business/Profession:-

New Codes	Business/Profession
16021	Social Media Influencers
21009	Speculative Trading
21010	Futures and Options Trading
21011	Buying/Selling of Shares

About Author

Vanshika verma

Content Writer

Vanshika Verma is a Content Writer with 1+ year of experience at Studycafe.in. A B.Com graduate from Delhi University, She writes articles on Finance, Tax, ICAI, GST, and the latest financial news, with a focus on making complex topics easy for readers and professionals.