CBDT notifies format of ITR-3 for AY 2025-26 for For individuals and HUFs having income from profits and gains of business or profession.
CBDT notifies format of ITR-3 for Ay 2025-26
CBDT vide Notification No. 41/2025 dated 01.05.2025 has notified the format of Income Tax Return-3 (ITR-3).
What is new in ITR-3?
The major changes made in the ITR-3 for AY 2025-26 are consequential to amendment made by the Finance Act 2024 to the provisions related to capital gain indexation i.e. on properties purchased on or after 23/07/2024 capital gain shall be flat 12.5% with no benefit of Indexation of costs. However for properties transferred before 23/07/2024, the taxpayer has the option of indexation.
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- No arrest under GST- Major decision of 57th Meeting of GST Council held on 8th October 2026
- Later SC ruling cannot render an act done in compliance of a court order a statutory default
- Interest payment on mobilisation advance to NHAI not liable to TDS u/s 194A
- Typographical error in turnover accepted during assessment not a mistake apparent from record
- Plea that assessee was not aware of order cannot be brushed aside in absence of proof of service
