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.
Vanshika verma | 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.
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.
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 |
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