• Registered Users :
  • 160159
  • Current Active Users :
  • 101661

News INCOME TAX

  • Jan 02, 2021
  • Over 4.84 crore ITRs for 2019-20 filed till December 31

    Over 4.84 crore income tax returns (ITRs) for fiscal year 2019-20 have been filed till December 31, 2020, the Income Tax Department said on Friday. The government has extended the ITR filing deadline for individuals till January 10, and for companies till February 15.

    “Over 4.84 crore Income Tax Returns for AY 2020-21 have already been filed till 31st of December, 2020,” the Income Tax Department tweeted.

    The deadline for individuals to file ITRs for 2018-19 was August 31, 2019 and over 5.61 crore ITRs were filed.

    An analysis of the data showed that filing of tax returns by individuals for 2019-20 has slowed in the current year, while filing by businesses and trusts have increased.

    Over 2.65 crore ITR-1 have been filed till December 31, 2020, lower than the 3.09 crore filed till August 31, 2019.

    Over 1.08 crore ITR-4 have been filed till December 31 as compared to 1.28 crore filed till August 31, 2019.

    Returns in ITR-1 Sahaj are filed by individuals whose total income does not exceed Rs 50 lakh, while form ITR-4 Sugam is meant for individuals, Hindu Undivided Families (HUFs) and firms (other than Limited Liability Partnership ) having a total income of up to Rs 50 lakh and having presumptive income from business and profession.