Filing your Income Tax Return (ITR) can feel like navigating a maze, especially under the new tax regime. This comprehensive step-by-step ITR 3 filing guide for AY 2025-26 is designed to simplify the process for salaried professionals with additional income from house property, capital gains, and profession. This post walks you through the process in under 600 words — efficiently, professionally, and with a human touch.
Understanding the Profile
Before we begin, here’s a quick summary of the taxpayer profile (Presumed):
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Age: Below 60 years
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Tax Regime: Opting for new tax regime
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Salary Income: ₹20,00,000
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Rental Income: ₹1,20,000
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Notional Housing Loan Interest (Self-Occupied): ₹2,50,000
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Medical Insurance Premium: ₹27,000
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Investment under Section 80C: ₹1,50,000 (not claimable under new regime)
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Interest on Term Deposit: ₹80,000
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Short Term Capital Gain (STCG): ₹20,000
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Long Term Capital Gain (LTCG): ₹1,25,000
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Professional Income: ₹3,00,000
Step-by-Step Guide to File ITR 3 for AY 2025-26
1. Login to Income Tax Portal
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Login using PAN, password
2. Select the Correct Form
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Choose ITR 3 for individuals having income from profession and capital gains.
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Opt for Online mode (recommended) for guided filing.
3. Select the Financial Year
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Choose Assessment Year 2025-26
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Opt for New Tax Regime under Section 115BAC (Check the declaration box).
4. Enter General Information
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Personal details will be auto-filled.
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Confirm employment type: Salaried + Professional
5. Add Income Details
a. Salary Income
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Input ₹20,00,000 under 'Income from Salary'
b. House Property
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Declare rental income ₹1,20,000 under ‘Let-out Property’
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Report Notional Interest on Housing Loan for self-occupied property – even though deduction is not allowed under the new tax regime, declaration is required.
c. Capital Gains
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Short Term Capital Gain: ₹20,000 under Section 111A
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Long Term Capital Gain: ₹1,25,000 under Section 112A
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₹1,00,000 exemption is applicable; only ₹25,000 is taxable
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d. Income from Other Sources
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Term Deposit Interest: ₹80,000 under 'Interest Income'
e. Professional Income
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Declare ₹3,00,000 under 'Income from Business/Profession'
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Use Presumptive Scheme (Section 44ADA i.e. 50% of Declared Income from Business/Profession) if no books maintained
6. Deductions (if under Old Regime Only)
However, it's good practice to still disclose them for future reference.
7. Verify Taxes Paid
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Ensure TDS (from Form 26AS/Annual Information Statement) is auto-filled.
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Add any advance tax or self-assessment tax if paid.
8. Tax Calculation and Verification
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Total Income: Approx ₹24,45,000
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Total Tax Payable: As per new tax slabs
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Pay any tax due via Challan 280 if applicable
9. Preview and Submit
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Preview the form thoroughly
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Submit and e-verify using Aadhaar OTP, net banking, or other methods
Expert Opinion
CA Ramesh Mathur, Chartered Accountant, says:
"The ITR 3 filing guide for AY 2025-26 under the new tax regime requires close attention to capital gains and professional income. Even if deductions are not applicable, they must be disclosed for financial accuracy."
Summary Checklist (Structured Bullet Points)
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✅ Select ITR 3 and New Tax Regime
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✅ Report all income types (Salary, Rental, Capital Gains, Professional)
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✅ Disclose but do not claim 80C and 80D deductions
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✅ Calculate LTCG exemption of ₹1,00,000 correctly
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✅ Match income with Form 26AS and AIS
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✅ Use Section 44ADA if applicable for profession
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✅ E-verify promptly to complete the process
Suggested Backlink
Read the full detailed breakdown and FAQs on:
👉 Focus360Blog: Step-by-Step ITR 3 Filing Guide
Disclaimer: This post is for informational
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