Schedule Nature of Business or Profession AY 2026-27
About the Schedule
‘Schedule – Nature of Business’ in the Income Tax Return (ITR) form is used to report the specific nature of the business or professional activity carried out by the taxpayer during the financial year.
This schedule is mandatory for all individuals, HUFs, firms, companies, etc., engaged in business or profession. The schedule requires selecting the appropriate business/profession code as specified by the Income Tax Department in the ITR utility. Taxpayers may report multiple business or professional activities by providing separate codes and corresponding descriptions.
This schedule applies to ITR-3, ITR-4, ITR-5 and ITR-6.