If you have income from share trading (futures and options, F&O) or professional income, then you will have to fill the ITR-3 form to file income tax. Actually, the Income Tax Department has informed that it has started online filing of ITR-3 form on the e-filing portal.

In such a situation, individuals earning income from share trading (such as futures and options), business income, or investment in unlisted shares like National Stock Exchange can now file ITR-3 directly through the e-filing portal.

Let us tell you, on July 30, 2025, the Income Tax Department said in a notification that Income Tax Return Form ITR-3 is now available for filing through online mode.

Who can file ITR-3?

ITR-3 is applicable for individuals and Hindu Undivided Families (HUFs) who earn business or professional income. It is considered a comprehensive or ‘master’ form as it gives eligible filers a platform to report different types of income at one place.

Eligibility Criteria to File ITR-3

Individuals or HUFs (whether subject to tax audit or not) engaged in any business or profession.

Individuals earning income from house property, salary or pension, capital gains, and other sources.

Individuals receiving remuneration from a partnership firm.

Who need not file ITR-3…

Entities other than individuals and HUFs.

Those who do not have income from remuneration from business, profession, or partnership firm.

Those who are eligible to file ITR-1, ITR-2, or ITR-4 forms.

According to the Income Tax Department, several important updates have been made in ITR-3:

Schedule-Capital Gains: Now gains made before and after July 23, 2024, need to be reported separately, following amendments made in the Finance Act, 2024.

Capital Loss on Share Buyback: Capital loss can be claimed if dividend income relating to buyback after October 1, 2024 is declared under ‘Income from Other Sources’.

Limits on Asset and Liability Declaration: The limit for mandatory asset and liability declaration has been increased when total income exceeds Rs 1 crore.

Section 44BBC: Incorporated under presumptive taxation for reporting of income from cruise ship business.

Enhanced Reporting of Deductions: Enhanced reporting requirements for deductions such as Sections 80C and 10(13A).

New TDS Section Code in Schedule-TDS: New requirement for reporting of TDS Section Code.

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