The Income Tax Return utility has introduced new codes under “Nature of Business/Profession” to better get data to analyse according to the business segment.

Some major additions include:

09029 – Commission agents – Kachcha Arahitya
16021 – Social Media Influencers
21009 – Speculative Trading
21010 – Futures and Options Trading
21011 – Buying and Selling Shares

More breakup wrt Equity and derivative transactions is incoporated in new ITR. Care should be taken to report the share and F&O transactions correctly as we have seen notices u/s 143 (2) were issued for AY 24-25 where F&O transactions were reported in many cases.