Income Tax Returns: Over 5.27 crore ITRs filed for fiscal 2019-20 until Jan 7

Image Source : PTI Income Tax Returns: Over 5.27 crore ITRs filed for fiscal 2019-20 until Jan 7
More than 5.27 crore earnings tax returns (ITRs) for fiscal 12 months 2019-20 have been filed until January 7, the Income Tax Department mentioned on Friday. The authorities has prolonged the ITR submitting deadline for people until January 10, and for corporations until February 15.
“More than 5.27 crore Income Tax Returns for AY 2020-21 have already been filed till 07th of January, 2021,” the Income Tax Department mentioned in a tweet.
The deadline for people to file ITRs for 2018-19 was August 31, 2019 and over 5.63 crore ITRs have been filed.
About 2.8 crore ITR-1 returns have been filed until January 7, decrease than 3.1 crore filed until September 7, 2019.

With regard to ITR-4, it mentioned 1.23 crore returns have been filed until January 7 as in comparison with 1.29 crore filed until September 7, 2019.
Returns in ITR-1 Sahaj are filed by people whose whole earnings doesn’t exceed Rs 50 lakh, whereas type ITR-4 Sugam is supposed for people, Hindu Undivided Families (HUFs) and companies (apart from Limited Liability Partnerships) having a complete earnings of as much as Rs 50 lakh and having presumptive earnings from enterprise and career.
Over 40 lakh ITR-2 (filed by folks having earnings from residential property) have been filed until January 7, 2021.
ITR-5 (filed by LLPs and Association of Persons) filings stood at 8.93 lakh, whereas ITR-6 (by companies) filings have been at 4.30 lakh.
ITR-7 (filed by individuals having earnings derived from property held below belief) filings stood at 1.29 lakh until January 7.
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