CBDT Notifies ITR Form-3 for Assessment Year 2025–26
By Author | May 2, 2025
CBDT Notification No. 41/2025
Overview
On May 1, 2025, the Central Board of Direct Taxes (CBDT) released ITR Form-3 for the Assessment Year 2025–26. This form applies to individuals and Hindu Undivided Families (HUFs) who earn income from business or professional activities.
Form Highlights
The updated ITR-3 captures comprehensive financial data, including:
- Personal information, filing type, and residential status
- Income from business/profession, capital gains, and other sources
- Deductions under various sections of the Income Tax Act, 1961
- Details of foreign income and assets (if applicable)
Key Updates
Here are the notable changes in the 2025–26 version:
- Revised computation rules under Sections 44AD, 44ADA, and 44AE
- New detailed schedules for depreciation, capital gains, and deductions
- Provisions for reporting compliance with tax audit requirements under Section 44AB
Important Compliance Notes
CBDT stresses the need for accurate and complete filing. Taxpayers must use this form according to their specific income situations and ensure all details are filled correctly. Incomplete or incorrect data can lead to penalties or delays in processing.
