ITR-3 excel utility for AY 2026-27 goes live: Who can file and key details for taxpayers

The Income Tax Department on Friday released the Excel Utility of ITR-3 for Assessment Year 2026-27 (FY 2025-26) on the e-filing portal. The online filing option was also activated earlier, enabling eligible taxpayers to begin filing their returns using the form.

“Kind Attention Taxpayers! Online filing and Excel Utility for ITR-3 for A.Y. 2026–27 is now enabled on the e-Filing portal," the department stated on social media.

With this update, Excel Utilities of key income tax return forms for FY 2026 are now available on the e-filing portal. Moreover, ITR-1, ITR-2, ITR-3 and ITR-4 for FY 2025-26 are already live for taxpayers to use.

Who should file ITR-3?

ITR-3 is meant for individuals and Hindu Undivided Families (HUFs) who earn income from profits and gains of business or profession, including both audit and non-audit cases. It can be filed by taxpayers who work as a freelancer, consultant, doctor, lawyer, trader, or proprietor

It is applicable when the taxpayer maintains regular books of accounts and total income exceeds ₹50 lakh. ITR 3 must be filed by taxpayers who have income from the following sources:

• Business under presumptive scheme
• Profession
• Dividend or interest
• Freelancing or consultancy
• F&O trading and intraday trading
• House property
• Salary or pension
• Capital gains and other sources.
• Remuneration received from a partnership firm (Not from LLPs)

Who cannot file ITR-3?

No taxpayers other than individuals and HUF are eligible to file ITR -3 Form. Meanwhile those not having income by way of business or profession or partnership firm are also not eligible to file the ITR-3 Form.

In simple words, any person who is eligible to file ITR-1, ITR-2 and ITR-4 is not eligible to file ITR-3.

Key updates in ITR-3 for FY 2025-26

Taxpayers filing ITR-3 will see additional reporting requirements for trading activity. The revised form requires separate disclosure of turnover and income from futures and options (F&O) transactions instead of reporting them as part of broader business income figures.

The form also seeks more granular reporting of different categories of trading activity, including intraday transactions and other business-related details. Traders should ensure that the figures reported in the return are consistent with broker statements and books of accounts.

Due date for filing ITR-3

The due date for filing ITR-3 for FY 2025-26 is 31 August 2026 for taxpayers not required to undergo an audit, while those subject to audit must file their returns by 31 October 2026.

Eligible taxpayers must file their ITR through the prescribed form as it helps them to avoid errors and reduce the risk of getting notices. It is also important to review one’s income profile and eligibility criteria before selecting the appropriate ITR form.

In case you end up filing an incorrect ITR form, the I-T Department may treat the return as defective under Section 139(9) and issue a notice requiring correction within a specified time. In such cases, the return is not processed until the defects are rectified, which in turn may delay refunds and trigger additional verification if income details do not match departmental records.

If the highlighted defect is not rectified within the prescribed time, the return may be treated as invalid, as if no return was filed at all. Meanwhile in cases involving under-reporting or misreporting of income, the matter may later be picked up in scrutiny proceedings, which may lead to interest and penalties.