ITR 2019-20: Over 5 crore revenue tax returns filed until January 4

Image Source : FILE PHOTO ITR 2019-20: Over 5 crore revenue tax returns filed until January 4
Over 5 crore revenue tax returns (ITRs) for fiscal 12 months 2019-20 have been filed until January 4, the Income Tax Department mentioned on Tuesday. The authorities has prolonged the ITR submitting deadline for people until January 10, and for corporations until February 15.
“Over 5.01 crore Income Tax Returns for AY 2020-21 have already been filed till 04th 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.
An evaluation of the information confirmed that submitting of tax returns by people for 2019-20 has slowed within the present 12 months, whereas submitting by companies and trusts have elevated.

Over 2.7 crore ITR-1 have been filed until January 4, decrease than 3.09 crore filed until September 4, 2019.
With regard to ITR-4, it mentioned, 1.04 crore returns have been filed until January 4 as in comparison with 1.28 crore filed until September 4, 2019.
Returns in ITR-1 Sahaj are filed by people whose complete revenue doesn’t exceed Rs 50 lakh, whereas type ITR-4 Sugam is supposed for people, Hindu Undivided Families (HUFs) and companies (aside from Limited Liability Partnership ) having a complete revenue of as much as Rs 50 lakh and having presumptive revenue from enterprise and occupation.
Over 38 lakh ITR-2 (filed by folks having revenue from residential property) have been filed until January 4, 2021. ITR-5 (filed by LLP and Association of Persons) filings stood at 8.30 lakh, whereas ITR-6 (by companies) filings have been at 4.03 lakh.
ITR-7 (filed by individuals having revenue derived from property held underneath belief) filings stood at 1.21 lakh until January 4, 2021.
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