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New IT norms ease compliance burden
Financial Express Hyderabad
|May 03, 2025
The form applies to individuals, HUF
THE CENTRAL BOARD of Direct Taxes (CBDT) has notified Income Tax Return Form 3 (ITR-3) for Assessment Year 2025-26, applicable for income earned in the financial year 2024-25.
Form ITR-3 applies to individuals and Hindu Undivided Family (HUF) earning income from profits from business or professionals like doctors, and consultants or freelancers.
On April 29, the IT department had notified ITR-1 and ITR-4 forms for AY 2025-26, and made it easier for individuals earning long-term capital gains (LTCG) of up to ₹1.25 lakh from listed equities to file returns in an easier manner.
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