The Income Tax Department has enabled online filing for ITR-3 for Assessment Year 2025-26, simplifying tax compliance for individuals and HUFs with business or professional income. This blog post details who needs to file ITR-3, highlights key updates for the current assessment year (including changes in AL reporting and VDA schedules), explains the benefits of online filing, and provides a step-by-step guide to assist taxpayers. It also subtly promotes MyITROnline for expert assistance.

This blog post gives a clear and straightforward explanation of the major updates to the ITR-3 income tax utility for Assessment Year 2025-26. It emphasizes the new business and profession codes that improve the classification of different income sources, such as online trading and digital content creation. The post also discusses other important changes, including higher thresholds for reporting assets, updated capital gains reporting rules, detailed requirements for deductions, and clarifications on the new tax system. This information is directed at business owners, professionals, and HUFs, offering useful guidance on understanding and managing these changes to make tax filing easier.

This blog explains the key differences between ITR-3 and ITR-4, specifically for freelancers and consultants, outlining eligibility criteria and scenarios to help them choose the correct income tax return form.

This guide makes it easier to choose the right Income Tax Return (ITR) form for Assessment Year (AY) 2025-26 (Financial Year 2024-25). It explains each ITR form (ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6, ITR-7) by outlining who can use each one, who cannot, and the specific income sources or taxpayer categories they cover. The guide also notes important updates for AY 2025-26, including the inclusion of certain LTCG in ITR-1 and ITR-4, changes in VDA reporting, updated capital gains segregation, higher thresholds for asset and liability reporting, and required deduction disclosures. The purpose is to help individuals and entities choose the right form for accurate and compliant tax filing.

This blog post announces the release of ITR-2 and ITR-3 Excel utilities for AY 2025-26. It explains which taxpayers must use these forms and highlights important updates from the Finance Act, 2024. These updates include changes to capital gains segregation, share buyback rules, and higher asset reporting thresholds. The post describes the benefits of using Excel utilities and offers a clear, step-by-step guide for filing. It stresses key points like the e-verification deadline and the need for accuracy and good record-keeping to ensure smooth compliance.

This blog post serves as a comprehensive guide to selecting the correct Income Tax Return (ITR) form (ITR-1 to ITR-7) for Assessment Year 2025-26 (Financial Year 2024-25). It begins by emphasizing the importance of choosing the right form to avoid penalties and highlights the extended filing deadline for individuals and HUFs. The post then details important updates for AY 2025-26, including changes to LTCG reporting in ITR-1/4, compulsory detailed disclosures for old regime deductions, new TDS section requirements, revised asset reporting thresholds, and the default new tax regime. A simplified overview of applicability and exclusions for each ITR form (ITR-1 to ITR-7) is provided. Finally, it uses seven practical case studies to illustrate how different taxpayer profiles (salaried, freelancers, businesses, firms, companies, trusts) can correctly identify their applicable ITR form. The synopsis concludes by advising readers to consult official guidelines and tax professionals for accurate filing.

The CBDT has notified the ITR forms (1-7) for AY 2025-26, incorporating changes from the Finance Act, 2024. This blog provides a comprehensive overview of the key modifications in each form, focusing on changes in capital gains reporting, eligibility criteria, deduction disclosures, and other compliance requirements to help taxpayers prepare for the upcoming filing season.

CBDT has notified ITR-Form 3 for Assessment Year 2025-26 (FY 2024-25) via Notification No. 41/2025. This affects Individuals/HUFs with business/professional income. Key updates include a split Capital Gains schedule (pre/post July 23, 2024), new conditions for claiming share buyback loss (post Oct 1, 2024), an increased asset/liability reporting threshold to ₹1 crore, addition of Sec 44BBC reference, enhanced reporting for deductions like 80C & 10(13A), and mandatory TDS section code reporting. Taxpayers should review these changes for compliant filing.

The Income Tax Department has released an updated Excel utility for ITR-3 for Fiscal Year 2024-25. This blog describes how to download, utilize, and file your income tax return with the utility, assuring correct and timely compliance for companies and professionals.

This blog explains the ITR 3 validation rules for Assessment Year (AY) 2024-25 in India. It highlights the different categories of rules, their impact on your return, and the benefits of adhering to them. The blog also provides tips for flawless ITR 3 filing and accessing the validation rules document.