Over 4.84 crore Income Tax Returns for 2019-20 filed till December 31

By: |
January 1, 2021 2:32 PM

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.

income tax returns filed this yearThe deadline for individuals to file ITRs for 2018-19 was August 31, 2019.

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.

Over 36.58 lakh ITR-2 (filed by people having income from residential property) were filed till December 31. ITR-5 (filed by LLP and Association of Persons) filings stood at 7.84 lakh, while ITR-6 (by businesses) filings were at 3.82 lakh.

ITR-7 (filed by persons having income derived from property held under trust) filings stood at 1.15 lakh till December 31, 2020.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1Budget 2021 Expectation: Exempt LTCG tax on equities to boost capital markets
2Income Tax raid: I-T dept detects Rs 450-crore black money after raids in Kolkata
3Budget 2021 Expectations: Taxpayers want the old income tax regime to continue