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India’s tax returns now tell a bigger story than just salaries. ClearTax’s “How India Filed in 2025” report shows Gen Z and millennials filing more complex ITRs. They blend jobs with business income, capital gains, F&O trading, and crypto too. No more simple salary-only forms yaar – this is the new normal!
ITR-3, ITR-2 Surge Signals Shift
ITR-3 filings for business and trading jumped 45.4% year-on-year. ITR-2 for capital gains rose 17%. Shockingly, 8 out of 10 ITR-3 filers also reported capital gains. Millennials aged 25-35 lead with 42.3% of ITR-3s. They dominate new and repeat traders by mixing office work with market plays.
Gen Z Starts Early, Boldly
Under-25 filers saw ITR-2 grow 18%. They catch investments alongside stipends or internships. Younger taxpayers enter markets earlier than past generations. Digital assets like crypto? Nearly 40% VDA filers are 25-35. Half use ITR-3 – serious traders pairing it with stocks and salary, not hobbyists.
Age-Wise Income Twist
Peak salaried earnings hit 40-50 age group. 38.1% earn above Rs 30 lakh annually. Younger lot diversifies early for wealth building. Unlike elders who saved slowly, they chase riches via trades alongside promotions. ClearTax data proves young India means business in markets!
