“Over 5.01 crore Income Tax Returns for AY 2020-21 have already been filed till 04th of January, 2021,” the Income Tax Department said in a tweet.
The deadline for individuals to file ITRs for 2018-19 was August 31, 2019 and over 5.63 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 2.7 crore ITR-1 have been filed till January 4, lower than 3.09 crore filed till September 4, 2019.
With regard to ITR-4, it said, 1.04 crore returns have been filed till January 4 as compared to 1.28 crore filed till September 4, 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 38 lakh ITR-2 (filed by people having income from residential property) were filed till January 4, 2021. ITR-5 (filed by LLP and Association of Persons) filings stood at 8.30 lakh, while ITR-6 (by businesses) filings were at 4.03 lakh.
ITR-7 (filed by persons having income derived from property held under trust) filings stood at 1.21 lakh till January 4, 2021.